World Perspectives

Market Commentary: Grains Fall on Weather, Weak Technicals; Livestock Markets Digest New Data

The CBOT pulled back again on Friday with weak technical conditions in corn and soybeans contributing to early declines. U.S. weather forecasts are mostly hot and dry still, but recent European model runs show greater precipitation for the central U.S. That put a bearish bias in the CBOT today...

Today’s Top insights
feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.43/bushel, down $0.1825 from yesterday's close.  Sep 21 Wheat closed at $6.84/bushel, down $0.0825 from yesterday's close.  Nov 21 Soybeans closed at $13.5175/bushel, down $0.105 from yesterday's close.  Dec 21 Soymeal closed at $356.2/short ton, down $9...

wheat livestock soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

Tilting at Windmills; Floored Prices; Greenwashing Sustainability

Tilting at Windmills China is being chided in the financial press for trying to limit commodity prices. In addition to scrutinizing pricing platforms, Beijing is auctioning stockpiles and warning against speculation. This approach ignores the real impacts of underlying demand, which the governm...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 21 Corn closed at $5.43/bushel, down $0.1825 from yesterday's close.  Sep 21 Wheat closed at $6.84/bushel, down $0.0825 from yesterday's close.  Nov 21 Soybeans closed at $13.5175/bushel, down $0.105 from yesterday's close.  Dec 21 Soymeal closed at $356.2/short ton, down $9...

wheat livestock soy-oilseeds

CFTC COT Report Analysis

The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...

Tilting at Windmills; Floored Prices; Greenwashing Sustainability

Tilting at Windmills China is being chided in the financial press for trying to limit commodity prices. In addition to scrutinizing pricing platforms, Beijing is auctioning stockpiles and warning against speculation. This approach ignores the real impacts of underlying demand, which the governm...

Different Value-Added

USDA/FAS reports that excessive rains hit Chile earlier this year and damaged a wide swath of that country’s grape crop. What is notable is the concentration of global grape trade by some of the world’s smaller producers of grapes. Six countries (Chile, Peru, South Africa, United St...

Cattle Supply Continuing to Contract in Line with Expectations

USDA’s semi-annual Cattle Inventory report was released this afternoon. All cattle and calves in the United States on 1 July totaled 101 million head, 99 percent of July 2020 – in line with pre-report expectations. Of that inventory, all cows and heifers that have calved totaled 40...

Different Value-Added

USDA/FAS reports that excessive rains hit Chile earlier this year and damaged a wide swath of that country’s grape crop. What is notable is the concentration of global grape trade by some of the world’s smaller producers of grapes. Six countries (Chile, Peru, South Africa, United St...

feed-grains soy-oilseeds wheat

PM Post - Bailing Out for the Weekend

THE OPEN November beans:  5 lower December meal:  3.80 lower December soyoil:  90 higher December corn:  1 1/4 lower December wheat:  3 3/4 higher The markets opened as expected with more profit-taking as funds remain long and the weaker technical picture, lower demand...

feed-grains soy-oilseeds wheat

AM Outlook - Unwinding

GOOD MORNING, Prices are mixed this morning with higher oilshare and soyoil and firm wheat, vs. weaker beans, meal, and corn.   Traders were busy unwinding previous oilshare values this week on the back of the Administration's delay to defining biofuel mandates, but that correction se...

feed-grains soy-oilseeds wheat

Technical Views - Still Sideways

SPREADS We continue to see positive crush margins in the US, with August at 99c/bu and Sep. at 1.31c/bu.  August oilshare trades to 47.70% and Sep. is at 47.25%.  Sep/Dec meal trades from $3.40 carry out to $3.90.  August/Nov bean inverse trades from a low of 49 1/4c up to 54 1/4...

feed-grains soy-oilseeds wheat

Market Commentary: Weather Whiplash

While the gyrations in the equities market are based on things like earnings and risks from inflation or COVID, agricultural commodities are all about the weather. It is the known unknown and there will not be any clarity for a while yet. In a brief reflection of diversity (different commoditie...

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