Recent Feed Grains Analysis
PM Post: Trading Tomorrow's Expectations
THE OPEN May beans: 4 1/4 lower March meal: .20 lower March soyoil: 49 lower May corn: 1 1/2 lower May wheat: 5 lower The markets opened lower as called with March soyoil and oilshare trading lower. China continues to add stimulus to keep its economy going which is translating to better...
Technical Views - The Details
SPREADS May crush trades to 91.22c/bu, while oilshare is weaker, trading back below 34.0% to 33.87%. Corn spreads weaken with July/Dec trading out to 3c from 2 1/4c. March/May corn trades from 4 1/4c to 4 1/2c. July/Nov beans widen back out to 9 1/4c from 7c. March/May w...
AM Outlook - Mostly Sideways
GOOD MORNING, Futures are lower this morning led by soyoil, followed by wheat. Soyoil is lower following a sharp break in palm, as traders are concerned that the virus may lead to lower demand from China and India. Chicago corn and bean prices piggy-back off weaker Chinese and...
Market Commentary
Overnight news that Australia’s 2019/20 wheat crop will be smaller than expected set the stage for a sharp rally in the CBOT wheat markets. Morning calls were for wheat to open higher and pull corn along with it, which is exactly what happened. Few, if any, analysts, however, expected whe...
Summary of Futures
Mar 20 Corn closed at $3.83/bushel, up $0.0525 from yesterday's close. Mar 20 Wheat closed at $5.6675/bushel, up $0.24 from yesterday's close. Mar 20 Soybeans closed at $8.9225/bushel, down $0.015 from yesterday's close. Mar 20 Soymeal closed at $292.2/short ton, up $1.1 from...
China's Tariff Reductions
China announced this morning a list of 696 U.S. products for which importers may apply for a tariff exemption. Importers must apply for the exemption by 2 March, with a particular volume of imports specified in the application. Import volumes above the applied for amount will be subject to the...
PM Post: Notables
THE OPEN March beans: 2 lower March meal: .40 lower March soyoil: 2 higher March corn: 3 higher March wheat: 13 higher Prices opened as expected with the soy complex still lower against a higher grain market. Wheat continued to remain well supported by the...
Change in Major Philippine Crops
Philippine President Rodrigo Duterte is a controversial leader and some critics complain that he has hurt the country’s agriculture by allowing increased imports at the same time food prices are rising. The most notable and dramatic increase has been in rice imports. The population annual...
Technical Views: Wheat Higher, Corn Sideways, Soy Weaker
SPREADS Spread trade consumed most of the volume in the last session. March corn was down 36,104 contracts with May up 23,638 contracts. March open interest declines to 373,184 contracts with May at 489,438 contracts. March bean open interest declines by 21,013 contracts with May open int...
AM Outlook: Wheat Leading Grains Higher
GOOD MORNING, The board is mixed this morning with wheat leading grains higher and weaker soy values. Heading into this week, all eyes will be the January NOPA crush report, and the USDA’s Outlook Forum numbers on the 20th. Over the weekend China reported 1,886 new cases of coronavirus, w...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA COMMENTS Egypt has announced that the population of the country has just reached 100 million people. Egypt will set up its first commodity exchange by January 2021 – wheat, corn, rice and sugar are the initial commodities that will b...
Market Commentary
Note: CBOT and CME ag futures markets will be closed on Monday, 17 February for the U.S. President’s Day holiday. WPI offices will be closed as well. Enjoy the holiday! The CBOT opened on a stronger note with short covering again the feature of the morning. As the day wore on, howev...
PM Post: Trading Tomorrow's Expectations
THE OPEN May beans: 4 1/4 lower March meal: .20 lower March soyoil: 49 lower May corn: 1 1/2 lower May wheat: 5 lower The markets opened lower as called with March soyoil and oilshare trading lower. China continues to add stimulus to keep its economy going which is translating to better...
Technical Views - The Details
SPREADS May crush trades to 91.22c/bu, while oilshare is weaker, trading back below 34.0% to 33.87%. Corn spreads weaken with July/Dec trading out to 3c from 2 1/4c. March/May corn trades from 4 1/4c to 4 1/2c. July/Nov beans widen back out to 9 1/4c from 7c. March/May w...
AM Outlook - Mostly Sideways
GOOD MORNING, Futures are lower this morning led by soyoil, followed by wheat. Soyoil is lower following a sharp break in palm, as traders are concerned that the virus may lead to lower demand from China and India. Chicago corn and bean prices piggy-back off weaker Chinese and...
Market Commentary
Overnight news that Australia’s 2019/20 wheat crop will be smaller than expected set the stage for a sharp rally in the CBOT wheat markets. Morning calls were for wheat to open higher and pull corn along with it, which is exactly what happened. Few, if any, analysts, however, expected whe...
Summary of Futures
Mar 20 Corn closed at $3.83/bushel, up $0.0525 from yesterday's close. Mar 20 Wheat closed at $5.6675/bushel, up $0.24 from yesterday's close. Mar 20 Soybeans closed at $8.9225/bushel, down $0.015 from yesterday's close. Mar 20 Soymeal closed at $292.2/short ton, up $1.1 from...
China's Tariff Reductions
China announced this morning a list of 696 U.S. products for which importers may apply for a tariff exemption. Importers must apply for the exemption by 2 March, with a particular volume of imports specified in the application. Import volumes above the applied for amount will be subject to the...
PM Post: Notables
THE OPEN March beans: 2 lower March meal: .40 lower March soyoil: 2 higher March corn: 3 higher March wheat: 13 higher Prices opened as expected with the soy complex still lower against a higher grain market. Wheat continued to remain well supported by the...
Change in Major Philippine Crops
Philippine President Rodrigo Duterte is a controversial leader and some critics complain that he has hurt the country’s agriculture by allowing increased imports at the same time food prices are rising. The most notable and dramatic increase has been in rice imports. The population annual...
Technical Views: Wheat Higher, Corn Sideways, Soy Weaker
SPREADS Spread trade consumed most of the volume in the last session. March corn was down 36,104 contracts with May up 23,638 contracts. March open interest declines to 373,184 contracts with May at 489,438 contracts. March bean open interest declines by 21,013 contracts with May open int...
AM Outlook: Wheat Leading Grains Higher
GOOD MORNING, The board is mixed this morning with wheat leading grains higher and weaker soy values. Heading into this week, all eyes will be the January NOPA crush report, and the USDA’s Outlook Forum numbers on the 20th. Over the weekend China reported 1,886 new cases of coronavirus, w...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA COMMENTS Egypt has announced that the population of the country has just reached 100 million people. Egypt will set up its first commodity exchange by January 2021 – wheat, corn, rice and sugar are the initial commodities that will b...
Market Commentary
Note: CBOT and CME ag futures markets will be closed on Monday, 17 February for the U.S. President’s Day holiday. WPI offices will be closed as well. Enjoy the holiday! The CBOT opened on a stronger note with short covering again the feature of the morning. As the day wore on, howev...