Recent Feed Grains Analysis
Crude Oil and Feedlot Rations
As Gary Blumenthal reported yesterday, efforts are afoot to put a safety net under global crude oil prices. President Trump is communicating with Saudi Arabia and Russia to coordinate a détente in their price and production war, and the so-called OPEC-Plus group, which includes OPEC memb...
Market Commentary
The CBOT was called mixed/lower to start today and it did just that. Corn and the soy complex were subject to fund selling and broke key technical support points while the wheat market strengthened on news of a Russian export quota. The livestock markets are in complete disarray and swung from...
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...
Summary of Futures
May 20 Corn closed at $3.3075/bushel, down $0.0275 from yesterday's close. May 20 Wheat closed at $5.4925/bushel, up $0.075 from yesterday's close. May 20 Soybeans closed at $8.5425/bushel, down $0.045 from yesterday's close. May 20 Soymeal closed at $303.2/short ton, down $5...
Dalian Futures Weekly Analysis
In our continuing efforts to provide you with pertinent market analysis, WPI is considering expanding our analysis and coverage of the Chinese commodity futures markets. The following is a sample. Tell us what you think – email Matt at mherrington@grilink.com and let us know your thoughts...
PM Post - New Lows
THE OPEN May beans: 2 1/2 higher May meal: .40 lower May soyoil: 21 higher May corn: 4 higher July wheat: 8 1/4 higher The market opened as called but funds sold more corn, bean, and meal sending prices to new trading range or contract lows. Wheat and soyoil...
Technical Views - Chasing Oil Higher
SPREADS July crush trades down to 1.06c/bu while oilshare is firmer, trading back over 30.0%. July/Dec corn trades out to 10 3/4c from 9 3/4c, while May/July trades from 4 3/4c to 5 1/2c. July/Dec meal inverse weakens to $1.80 from $2.60. July/Nov bean inverse weakens from 2 1...
AM Outlook - Chasing Petroleum
GOOD MORNING, Prices were mixed to lower this morning, with the board continuing to follow the path of crude. As prices neared the close, crude jumped to new highs taking Ag prices along for the ride, as the correlation between macros and ags continues. If energies continue to rally...
Market Commentary
Today was mildly volatile in the market with closing gains limited to soyoil and ethanol, purportedly due to their relationship to elevated petroleum prices. But that is a loose association in a market where overall demand has practically collapsed. Higher petroleum prices can be helpful in ord...
Summary of Futures
May 20 Corn closed at $3.335/bushel, down $0.0125 from yesterday's close. May 20 Wheat closed at $5.4175/bushel, down $0.085 from yesterday's close. May 20 Soybeans closed at $8.5875/bushel, down $0.04 from yesterday's close. May 20 Soymeal closed at $309.1/short ton, down $5...
PM Post - Volatile, Mostly Lower
THE OPEN May beans: 4 1/2 lower May meal: 1.20 lower May soyoil: 3 higher May corn: 1 1/2 higher July wheat: 8 lower Prices opened as expected but more selling pressure was noted across the board as funds continued to put on sales with early morning technical weakn...
Export Sales
Wheat: Net sales of 72,900 metric tons for 2019/2020--a marketing-year low--were down 90 percent from the previous week and 86 percent from the prior 4-week average. Corn: Net sales of 1,075,400 MT for 2019/2020 were down 41 percent from the previous we...
Crude Oil and Feedlot Rations
As Gary Blumenthal reported yesterday, efforts are afoot to put a safety net under global crude oil prices. President Trump is communicating with Saudi Arabia and Russia to coordinate a détente in their price and production war, and the so-called OPEC-Plus group, which includes OPEC memb...
Market Commentary
The CBOT was called mixed/lower to start today and it did just that. Corn and the soy complex were subject to fund selling and broke key technical support points while the wheat market strengthened on news of a Russian export quota. The livestock markets are in complete disarray and swung from...
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...
Summary of Futures
May 20 Corn closed at $3.3075/bushel, down $0.0275 from yesterday's close. May 20 Wheat closed at $5.4925/bushel, up $0.075 from yesterday's close. May 20 Soybeans closed at $8.5425/bushel, down $0.045 from yesterday's close. May 20 Soymeal closed at $303.2/short ton, down $5...
Dalian Futures Weekly Analysis
In our continuing efforts to provide you with pertinent market analysis, WPI is considering expanding our analysis and coverage of the Chinese commodity futures markets. The following is a sample. Tell us what you think – email Matt at mherrington@grilink.com and let us know your thoughts...
PM Post - New Lows
THE OPEN May beans: 2 1/2 higher May meal: .40 lower May soyoil: 21 higher May corn: 4 higher July wheat: 8 1/4 higher The market opened as called but funds sold more corn, bean, and meal sending prices to new trading range or contract lows. Wheat and soyoil...
Technical Views - Chasing Oil Higher
SPREADS July crush trades down to 1.06c/bu while oilshare is firmer, trading back over 30.0%. July/Dec corn trades out to 10 3/4c from 9 3/4c, while May/July trades from 4 3/4c to 5 1/2c. July/Dec meal inverse weakens to $1.80 from $2.60. July/Nov bean inverse weakens from 2 1...
AM Outlook - Chasing Petroleum
GOOD MORNING, Prices were mixed to lower this morning, with the board continuing to follow the path of crude. As prices neared the close, crude jumped to new highs taking Ag prices along for the ride, as the correlation between macros and ags continues. If energies continue to rally...
Market Commentary
Today was mildly volatile in the market with closing gains limited to soyoil and ethanol, purportedly due to their relationship to elevated petroleum prices. But that is a loose association in a market where overall demand has practically collapsed. Higher petroleum prices can be helpful in ord...
Summary of Futures
May 20 Corn closed at $3.335/bushel, down $0.0125 from yesterday's close. May 20 Wheat closed at $5.4175/bushel, down $0.085 from yesterday's close. May 20 Soybeans closed at $8.5875/bushel, down $0.04 from yesterday's close. May 20 Soymeal closed at $309.1/short ton, down $5...
PM Post - Volatile, Mostly Lower
THE OPEN May beans: 4 1/2 lower May meal: 1.20 lower May soyoil: 3 higher May corn: 1 1/2 higher July wheat: 8 lower Prices opened as expected but more selling pressure was noted across the board as funds continued to put on sales with early morning technical weakn...
Export Sales
Wheat: Net sales of 72,900 metric tons for 2019/2020--a marketing-year low--were down 90 percent from the previous week and 86 percent from the prior 4-week average. Corn: Net sales of 1,075,400 MT for 2019/2020 were down 41 percent from the previous we...