Recent Soy & Oilseeds Analysis
Export Sales
Export Sales and Shipments for April 5-11, 2024 Wheat: Net sales reductions of 93,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. Export shipments of 487,800 MT were down 22 percent from the previous week, but unchanged fro...
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
Summary of Futures
May 24 Corn closed at $4.2675/bushel, down $0.035 from yesterday's close. Jul 24 Wheat closed at $5.53/bushel, up $0.0075 from yesterday's close. May 24 Soybeans closed at $11.3425/bushel, down $0.1525 from yesterday's close. May 24 Soymeal closed at $338/short ton, down $0.7...
Market Commentary: Grains Fall while Oilseeds Gain; Oil Falls on U.S. Stocks, Chinese Economy
The CBOT was mixed on Wednesday with wheat futures dropping amid fund selling due to a stronger U.S. dollar and easing Russian FOB offers while corn drifted lower in lackluster, low-volume trade. While the grains were on the defensive, the soy complex found some support from technically related...
Summary of Futures
May 24 Corn closed at $4.3025/bushel, down $0.0075 from yesterday's close. May 24 Wheat closed at $5.37/bushel, down $0.1275 from yesterday's close. May 24 Soybeans closed at $11.495/bushel, up $0.045 from yesterday's close. May 24 Soymeal closed at $338.7/short ton, up $3.4 f...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
Market Commentary: Corn, Soybeans Fall on Planting Progress, Weather; NOPA Report Sinks Soyoil
The CBOT was mostly lower on Tuesday with broadly favorable weather in the U.S. and South America allowing timely planting and harvesting, respectively, of summer crops. Monday’s Crop Progress report from USDA indicated that U.S. farmers are making solid gains seeding the 2024 crops with...
Summary of Futures
May 24 Corn closed at $4.31/bushel, down $0.005 from yesterday's close. May 24 Wheat closed at $5.4975/bushel, down $0.02 from yesterday's close. May 24 Soybeans closed at $11.45/bushel, down $0.1325 from yesterday's close. May 24 Soymeal closed at $335.3/short ton, down $3.2...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Regional Updates Due to the Ramadan Eid El Fitr holidays ending, there is no grain news or information from the MENA region this week. SOUTHERN/EASTERN/WESTERN AFRICA Ghana’s government faces serious criticism f...
Market Commentary: CBOT Falls on Stronger Dollar, Technical Trade; NOPA Crush Sets Record
The CBOT was mostly lower to start the week with a rising U.S. dollar and favorable weather for the U.S. and South America pressuring values. Some jitters over the weekend developments in the Middle East also kept markets on the defensive, though crude oil prices slipped lower despite the incre...
WPI Crop Progress and Conditions App (Updated 15 April)
Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...
Summary of Futures
May 24 Corn closed at $4.315/bushel, down $0.04 from yesterday's close. May 24 Wheat closed at $5.5175/bushel, down $0.0425 from yesterday's close. May 24 Soybeans closed at $11.5825/bushel, down $0.1575 from yesterday's close. May 24 Soymeal closed at $338.5/short ton, down $...
Export Sales
Export Sales and Shipments for April 5-11, 2024 Wheat: Net sales reductions of 93,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week and from the prior 4-week average. Export shipments of 487,800 MT were down 22 percent from the previous week, but unchanged fro...
Market Commentary: Looking for Market Movers
The bearishness continues as South America crops loom and Northern Hemisphere weather is stable. The impending flood of Argentine soymeal and soyoil onto the market sent the May soyoil contract to a new low. There was nothing in today’s weekly USDA Export Sales report to alter the...
Summary of Futures
May 24 Corn closed at $4.2675/bushel, down $0.035 from yesterday's close. Jul 24 Wheat closed at $5.53/bushel, up $0.0075 from yesterday's close. May 24 Soybeans closed at $11.3425/bushel, down $0.1525 from yesterday's close. May 24 Soymeal closed at $338/short ton, down $0.7...
Market Commentary: Grains Fall while Oilseeds Gain; Oil Falls on U.S. Stocks, Chinese Economy
The CBOT was mixed on Wednesday with wheat futures dropping amid fund selling due to a stronger U.S. dollar and easing Russian FOB offers while corn drifted lower in lackluster, low-volume trade. While the grains were on the defensive, the soy complex found some support from technically related...
Summary of Futures
May 24 Corn closed at $4.3025/bushel, down $0.0075 from yesterday's close. May 24 Wheat closed at $5.37/bushel, down $0.1275 from yesterday's close. May 24 Soybeans closed at $11.495/bushel, up $0.045 from yesterday's close. May 24 Soymeal closed at $338.7/short ton, up $3.4 f...
Black Sea Regional Analysis
Russian Grain Markets: 8–12 April 2024 During the first week of April, the Russian domestic grain market remained quite volatile but predominantly stable and bearish. The exception was milling wheat going for export which triggered price improvements in the ports against a weaker RUB and...
Market Commentary: Corn, Soybeans Fall on Planting Progress, Weather; NOPA Report Sinks Soyoil
The CBOT was mostly lower on Tuesday with broadly favorable weather in the U.S. and South America allowing timely planting and harvesting, respectively, of summer crops. Monday’s Crop Progress report from USDA indicated that U.S. farmers are making solid gains seeding the 2024 crops with...
Summary of Futures
May 24 Corn closed at $4.31/bushel, down $0.005 from yesterday's close. May 24 Wheat closed at $5.4975/bushel, down $0.02 from yesterday's close. May 24 Soybeans closed at $11.45/bushel, down $0.1325 from yesterday's close. May 24 Soymeal closed at $335.3/short ton, down $3.2...
Middle East, Mediterranean and Africa Regional Analysis
MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Regional Updates Due to the Ramadan Eid El Fitr holidays ending, there is no grain news or information from the MENA region this week. SOUTHERN/EASTERN/WESTERN AFRICA Ghana’s government faces serious criticism f...
Market Commentary: CBOT Falls on Stronger Dollar, Technical Trade; NOPA Crush Sets Record
The CBOT was mostly lower to start the week with a rising U.S. dollar and favorable weather for the U.S. and South America pressuring values. Some jitters over the weekend developments in the Middle East also kept markets on the defensive, though crude oil prices slipped lower despite the incre...
WPI Crop Progress and Conditions App (Updated 15 April)
Update for 1 April 2024: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where ob...
Summary of Futures
May 24 Corn closed at $4.315/bushel, down $0.04 from yesterday's close. May 24 Wheat closed at $5.5175/bushel, down $0.0425 from yesterday's close. May 24 Soybeans closed at $11.5825/bushel, down $0.1575 from yesterday's close. May 24 Soymeal closed at $338.5/short ton, down $...