World Perspectives
soy-oilseeds

Oilseed Highlights – Down Trend or Bottom?

The Market The May soybean contract experienced its lowest close of 2023 today. At 1476.5, it is now below the 100-day moving average. With a record number of speculative longs pouring into May soymeal futures, it was vulnerable to a pullback and that is what happened this week. It lost $19.90/ST. May soyoil held onto a net gain this week of .85 cents and is valued at 57.46/pound, but some believe it will climb further. There are always diverse viewpoints but it is particularly true this time of year.  The CFTC again delayed its usual Friday issuance of the Commitment of Traders report. However, noncommercial speculators remained net long in soybeans as of 7 March. Noncommercial net-longs in soymeal were record large, which likely...

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feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for February 16-22, 2024. Wheat:  Net sales of 327,300 metric tons (MT) for 2023/2024 were up 40 percent from the previous week and 2 percent from the prior 4-week average. Export shipments of 538,700 MT were up 44 percent from the previous week and 58 percent fr...

feed-grains soy-oilseeds wheat

Market Commentary: Corn Extends Rally; Soybeans, Wheat Continue Consolidation

The CBOT was mixed on Wednesday with corn futures rising and hitting their third straight daily gain while wheat futures pulled back amid weaker global markets. The soy complex was caught somewhere in the middle with less-ideal weather for South America offering support while the large crop exp...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.285/bushel, up $0.05 from yesterday's close.  May 24 Wheat closed at $5.7475/bushel, down $0.095 from yesterday's close.  May 24 Soybeans closed at $11.4525/bushel, up $0.045 from yesterday's close.  May 24 Soymeal closed at $327.5/short ton, up $2.6 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales and Shipments for February 16-22, 2024. Wheat:  Net sales of 327,300 metric tons (MT) for 2023/2024 were up 40 percent from the previous week and 2 percent from the prior 4-week average. Export shipments of 538,700 MT were up 44 percent from the previous week and 58 percent fr...

feed-grains soy-oilseeds wheat

Market Commentary: Corn Extends Rally; Soybeans, Wheat Continue Consolidation

The CBOT was mixed on Wednesday with corn futures rising and hitting their third straight daily gain while wheat futures pulled back amid weaker global markets. The soy complex was caught somewhere in the middle with less-ideal weather for South America offering support while the large crop exp...

feed-grains soy-oilseeds wheat

Summary of Futures

May 24 Corn closed at $4.285/bushel, up $0.05 from yesterday's close.  May 24 Wheat closed at $5.7475/bushel, down $0.095 from yesterday's close.  May 24 Soybeans closed at $11.4525/bushel, up $0.045 from yesterday's close.  May 24 Soymeal closed at $327.5/short ton, up $2.6 from...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 19–23 February 2024 As expected, the Russian grain market remained stable and slightly bearish. Export demand will do the trick in the future unless there are major developments with the Russian domestic currency market or export duties. The government continues tax...

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