Recent Feed Grains Analysis
Market Commentary: Wheat Falls Amid Weak Russian Prices; Soyoil Rises on Exports; Macro Markets Boost Cattle
Markets and traders were broadly enthusiastic following the U.S. Federal Reserve’s 50-bps cut to its target interest rate on Wednesday, but you wouldn’t know that from looking at the grain or oilseed markets. Wheat futures were sharply lower on Thursday amid pressure from French whe...
Export Sales
Export Sales and Shipments for September 6-12, 2024 Wheat: Net sales of 246,300 metric tons (MT) for 2024/2025 were down 48 percent from the previous week and 46 percent from the prior 4-week average. Export shipments of 642,100 MT--a marketing-year high--were up 18 percent from the previ...
Summary of Futures
Dec 24 Corn closed at $4.0575/bushel, down $0.07 from yesterday's close. Dec 24 Wheat closed at $5.655/bushel, down $0.1025 from yesterday's close. Nov 24 Soybeans closed at $10.1325/bushel, down $0.0075 from yesterday's close. Dec 24 Soymeal closed at $321.6/short ton, up $0...
Market Commentary: Soy Complex Rises on China Rumors, Brazil Drought; Hogs Extend Rally
Soybeans saw the liveliest action of the major grain/oilseed contracts on Wednesday with a strong, 18-cent overnight rally developing on rumors of Chinese export business. That rally fizzled, however, after the USDA did not report any daily “flash” export sales at 9 AM ET and the ma...
Summary of Futures
Dec 24 Corn closed at $4.1275/bushel, up $0.0025 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, up $0 from yesterday's close. Nov 24 Soybeans closed at $10.14/bushel, up $0.08 from yesterday's close. Dec 24 Soymeal closed at $321.4/short ton, down $0.1 from yes...
Black Sea Regional Analysis
Russian Grain Markets: 9–13 September 2024 Russian grain markets remained stable with only corn slightly bullish, possibly showing the first real signs of a lower crop this season. Farmers are playing a waiting game switching to sunflower seed trade which is showing bullish sentiments and...
Market Commentary: Grains Drift Sideways as Harvest Looms; Livestock Rally on Strong Cash Trade
The CBOT was mostly sideways on Tuesday with funds still paring back a few shorts in the corn and soy complex while resuming some light selling in wheat futures. There was little fresh news for the day, which contributed significantly to the lack of price action. Russian FOB offers continue to...
Summary of Futures
Dec 24 Corn closed at $4.125/bushel, up $0.0175 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, down $0.0275 from yesterday's close. Nov 24 Soybeans closed at $10.06/bushel, up $0.015 from yesterday's close. Dec 24 Soymeal closed at $321.5/short ton, down $2.3 f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s GASC is reported to have arranged a private purchase of 430,000 MT of Russian wheat at a price of $231 CIF. GASC has not confirmed this purchase. Egypt’s wheat imports, on a dollar basis,...
Market Commentary: Bears Win as CBOT Emerges from Post-WASDE Weekend
The CBOT emerged from the post-WASDE weekend with bears gaining the upper hand in a relatively light news day. Wheat was the big loser for the day as profit taking developed when futures neared the $6.00 mark that kicked values sharply lower. Corn and soybeans were in the red for the day as wel...
Summary of Futures
Dec 24 Corn closed at $4.1075/bushel, down $0.025 from yesterday's close. Dec 24 Wheat closed at $5.785/bushel, down $0.1625 from yesterday's close. Nov 24 Soybeans closed at $10.045/bushel, down $0.0175 from yesterday's close. Dec 24 Soymeal closed at $323.8/short ton, up $0...
WPI Crop Progress and Conditions App (Updated 16 September)
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...
Market Commentary: Wheat Falls Amid Weak Russian Prices; Soyoil Rises on Exports; Macro Markets Boost Cattle
Markets and traders were broadly enthusiastic following the U.S. Federal Reserve’s 50-bps cut to its target interest rate on Wednesday, but you wouldn’t know that from looking at the grain or oilseed markets. Wheat futures were sharply lower on Thursday amid pressure from French whe...
Export Sales
Export Sales and Shipments for September 6-12, 2024 Wheat: Net sales of 246,300 metric tons (MT) for 2024/2025 were down 48 percent from the previous week and 46 percent from the prior 4-week average. Export shipments of 642,100 MT--a marketing-year high--were up 18 percent from the previ...
Summary of Futures
Dec 24 Corn closed at $4.0575/bushel, down $0.07 from yesterday's close. Dec 24 Wheat closed at $5.655/bushel, down $0.1025 from yesterday's close. Nov 24 Soybeans closed at $10.1325/bushel, down $0.0075 from yesterday's close. Dec 24 Soymeal closed at $321.6/short ton, up $0...
Market Commentary: Soy Complex Rises on China Rumors, Brazil Drought; Hogs Extend Rally
Soybeans saw the liveliest action of the major grain/oilseed contracts on Wednesday with a strong, 18-cent overnight rally developing on rumors of Chinese export business. That rally fizzled, however, after the USDA did not report any daily “flash” export sales at 9 AM ET and the ma...
Summary of Futures
Dec 24 Corn closed at $4.1275/bushel, up $0.0025 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, up $0 from yesterday's close. Nov 24 Soybeans closed at $10.14/bushel, up $0.08 from yesterday's close. Dec 24 Soymeal closed at $321.4/short ton, down $0.1 from yes...
Black Sea Regional Analysis
Russian Grain Markets: 9–13 September 2024 Russian grain markets remained stable with only corn slightly bullish, possibly showing the first real signs of a lower crop this season. Farmers are playing a waiting game switching to sunflower seed trade which is showing bullish sentiments and...
Market Commentary: Grains Drift Sideways as Harvest Looms; Livestock Rally on Strong Cash Trade
The CBOT was mostly sideways on Tuesday with funds still paring back a few shorts in the corn and soy complex while resuming some light selling in wheat futures. There was little fresh news for the day, which contributed significantly to the lack of price action. Russian FOB offers continue to...
Summary of Futures
Dec 24 Corn closed at $4.125/bushel, up $0.0175 from yesterday's close. Dec 24 Wheat closed at $5.7575/bushel, down $0.0275 from yesterday's close. Nov 24 Soybeans closed at $10.06/bushel, up $0.015 from yesterday's close. Dec 24 Soymeal closed at $321.5/short ton, down $2.3 f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s GASC is reported to have arranged a private purchase of 430,000 MT of Russian wheat at a price of $231 CIF. GASC has not confirmed this purchase. Egypt’s wheat imports, on a dollar basis,...
Market Commentary: Bears Win as CBOT Emerges from Post-WASDE Weekend
The CBOT emerged from the post-WASDE weekend with bears gaining the upper hand in a relatively light news day. Wheat was the big loser for the day as profit taking developed when futures neared the $6.00 mark that kicked values sharply lower. Corn and soybeans were in the red for the day as wel...
Summary of Futures
Dec 24 Corn closed at $4.1075/bushel, down $0.025 from yesterday's close. Dec 24 Wheat closed at $5.785/bushel, down $0.1625 from yesterday's close. Nov 24 Soybeans closed at $10.045/bushel, down $0.0175 from yesterday's close. Dec 24 Soymeal closed at $323.8/short ton, up $0...
WPI Crop Progress and Conditions App (Updated 16 September)
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...