Recent Feed Grains Analysis
Market Commentary: Awaiting New Inputs
It was a modest day in the pits with wheat in the green and corn and soybeans in the red. After yesterday’s profit-taking there was leveling out today ahead of the weekend as traders await more actionable factors early next week. A U.S. – China bilateral consultation scheduled for t...
Farm Spending: $7 Billion Down, $43 Billion to Go
According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act...
Summary of Futures
Dec 20 Corn closed at $3.38/bushel, up $0.0375 from yesterday's close. Sep 20 Wheat closed at $5/bushel, down $0.0375 from yesterday's close. Nov 20 Soybeans closed at $8.9875/bushel, up $0.095 from yesterday's close. Dec 20 Soymeal closed at $298.5/short ton, up $0.3 from yes...
Crops Being Made
July is a critical month for corn and soybeans are made in August so short of freak events like last week’s derecho, this year’s crops are nearly past any troubles. Next week’s U.S. Midwest weather brings below normal temperatures and less precipitation, which is better than h...
PM Post - All Things Factored In
THE OPEN November beans: 3 3/4 lower December meal: 1.20 lower December soyoil: 8 lower December corn: 1 1/2 lower September wheat: 1 1/2 higher The markets opened as called with continued price congestion. Inter-market spread trade saw some unwinding a...
Technical Views - Going Down
SPREADS Oct. crush trades to 92.80c/bu while oilshare declines to 34.88%. Corn spreads are slightly weaker with Dec/Dec trading from 33 1/4c out to 34 3/4c. Dec/March corn trades from 11c to 11 3/4c. Sep/Dec wheat trades from 1.72c up to 1.75c. Sep/Dec meal traded...
AM Outlook - Back in Trading Ranges
GOOD MORNING, Prices are settling back in trading ranges with some profit-taking and hedge selling on this week's corn, bean, and meal rally. Wheat remains largely ignored, while the winner of best volume for this week went to beans. The short-covering was noted in the meal m...
Market Commentary: Day of Regrets
Yesterday’s bump in the market was because USDA’s WASDE report was not as bearish as feared. Today’s jump is harder to explain - it seems miscalculated. Some say it was based on the prevented planting acres data, but the World Agricultural Outlook Board would have had those nu...
Summary of Futures
Dec 20 Corn closed at $3.3875/bushel, up $0.115 from yesterday's close. Sep 20 Wheat closed at $4.9675/bushel, up $0.055 from yesterday's close. Nov 20 Soybeans closed at $8.995/bushel, up $0.165 from yesterday's close. Dec 20 Soymeal closed at $298.7/short ton, up $8.9 from y...
PM Post - Testing New Tops
THE OPEN Nov beans: 12 higher Dec meal: 5.00 higher Dec soyoil: 2 higher Dec corn: 6 higher Sep wheat: 1/2 lower The markets opened strongly as called except for wheat, which has become the sell leg of inter-market spreads. Oilshare struggled as traders booke...
Export Sales
Wheat: Net sales of 367,900 metric tons (MT) for 2020/2021 were down 39 percent from the previous week and 45 percent from the prior 4-week average. Corn: Net sales of 377,200 MT for 2019/2020 were up noticeably from the previous week and up 18 percent from the pri...
Thoughts from the August WASDE
Last week we asked the rhetorical question “how big is big” as it applies to the U.S. and world grain and soybean supply and demand estimates for 2019/20 and 2020/21. Yesterday, USDA and NASS provided their latest answers when the August WASDE was released. To summarize their answer...
Market Commentary: Awaiting New Inputs
It was a modest day in the pits with wheat in the green and corn and soybeans in the red. After yesterday’s profit-taking there was leveling out today ahead of the weekend as traders await more actionable factors early next week. A U.S. – China bilateral consultation scheduled for t...
Farm Spending: $7 Billion Down, $43 Billion to Go
According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act...
Summary of Futures
Dec 20 Corn closed at $3.38/bushel, up $0.0375 from yesterday's close. Sep 20 Wheat closed at $5/bushel, down $0.0375 from yesterday's close. Nov 20 Soybeans closed at $8.9875/bushel, up $0.095 from yesterday's close. Dec 20 Soymeal closed at $298.5/short ton, up $0.3 from yes...
Crops Being Made
July is a critical month for corn and soybeans are made in August so short of freak events like last week’s derecho, this year’s crops are nearly past any troubles. Next week’s U.S. Midwest weather brings below normal temperatures and less precipitation, which is better than h...
PM Post - All Things Factored In
THE OPEN November beans: 3 3/4 lower December meal: 1.20 lower December soyoil: 8 lower December corn: 1 1/2 lower September wheat: 1 1/2 higher The markets opened as called with continued price congestion. Inter-market spread trade saw some unwinding a...
Technical Views - Going Down
SPREADS Oct. crush trades to 92.80c/bu while oilshare declines to 34.88%. Corn spreads are slightly weaker with Dec/Dec trading from 33 1/4c out to 34 3/4c. Dec/March corn trades from 11c to 11 3/4c. Sep/Dec wheat trades from 1.72c up to 1.75c. Sep/Dec meal traded...
AM Outlook - Back in Trading Ranges
GOOD MORNING, Prices are settling back in trading ranges with some profit-taking and hedge selling on this week's corn, bean, and meal rally. Wheat remains largely ignored, while the winner of best volume for this week went to beans. The short-covering was noted in the meal m...
Market Commentary: Day of Regrets
Yesterday’s bump in the market was because USDA’s WASDE report was not as bearish as feared. Today’s jump is harder to explain - it seems miscalculated. Some say it was based on the prevented planting acres data, but the World Agricultural Outlook Board would have had those nu...
Summary of Futures
Dec 20 Corn closed at $3.3875/bushel, up $0.115 from yesterday's close. Sep 20 Wheat closed at $4.9675/bushel, up $0.055 from yesterday's close. Nov 20 Soybeans closed at $8.995/bushel, up $0.165 from yesterday's close. Dec 20 Soymeal closed at $298.7/short ton, up $8.9 from y...
PM Post - Testing New Tops
THE OPEN Nov beans: 12 higher Dec meal: 5.00 higher Dec soyoil: 2 higher Dec corn: 6 higher Sep wheat: 1/2 lower The markets opened strongly as called except for wheat, which has become the sell leg of inter-market spreads. Oilshare struggled as traders booke...
Export Sales
Wheat: Net sales of 367,900 metric tons (MT) for 2020/2021 were down 39 percent from the previous week and 45 percent from the prior 4-week average. Corn: Net sales of 377,200 MT for 2019/2020 were up noticeably from the previous week and up 18 percent from the pri...
Thoughts from the August WASDE
Last week we asked the rhetorical question “how big is big” as it applies to the U.S. and world grain and soybean supply and demand estimates for 2019/20 and 2020/21. Yesterday, USDA and NASS provided their latest answers when the August WASDE was released. To summarize their answer...