Recent Feed Grains Analysis
Market Commentary: Hogs Crumble; EPA Mandate Rumors Support Corn, Pressure Soy Complex
Corn and wheat turned higher on Tuesday while the soy complex sold off despite strength in palm oil futures. Rumors that the EPA will soon announce its biofuels mandates, including a report from Reuters citing unnamed sources, helped support corn and ethanol demand expectations while painting a...
Summary of Futures
Mar 22 Corn closed at $5.86/bushel, up $0.025 from yesterday's close. Mar 22 Wheat closed at $8.085/bushel, up $0.0225 from yesterday's close. Jan 22 Soybeans closed at $12.5025/bushel, down $0.1125 from yesterday's close. Jan 22 Soymeal closed at $349.7/short ton, down $2.9 f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Pakistan has agreed that the transportation of 50,000 MT wheat from India to Afghanistan, via Pakistan, can be done using Afghan trucks. India had wanted to use Indian trucks and refused to agree to Pakistan trucks. Hopefully Afghan...
Summary of Futures
Mar 22 Corn closed at $5.835/bushel, down $0.005 from yesterday's close. Mar 22 Wheat closed at $8.0625/bushel, up $0.025 from yesterday's close. Jan 22 Soybeans closed at $12.615/bushel, down $0.0575 from yesterday's close. Jan 22 Soymeal closed at $352.6/short ton, down $6 f...
Market Commentary: CBOT Chops Sideways; Wheat Firmer on Russian Troop Movement; Hogs Fall on Weak Cash Prices
The CBOT traded mostly lower to start the week with soymeal dragging soybeans lower, despite a slight rise in soyoil futures. Corn rebounded from the day’s lows and settled just ½-cent lower and held to its recent trading range. Political uncertainty regarding Russia’s troop...
Growing Threat to Trade
Russia is positioning to invade Ukraine if it wants, and China is seeking to put a military base on the Atlantic in Equatorial Guinea. Then there is China’s threats to Taiwan and Iran’s potential abandonment of the nuclear agreement. One of the above could limit grain exports out of...
European Market Analysis
Regional News Russia continues to build its troop presence on the border with Ukraine and has mobilized some 170,000 troops to the region. That is 70,000 more troops than were on the border during last year’s spring build-up. Presidents Putin and Biden are expected to talk Tuesday,...
Mercosur Regional Analysis
Wheat Argentina’s wheat harvest continues at high speed with 12 percent harvested this week. The total has now reached 45 percent of the planted area. Surprises are coming from the nucleus regions with yields above estimates, bringing an additional 430,000 MT to the area. Per Rosari...
Market Commentary: Corn, Soy Rally on South American Forecast; Wheat Falls on Russia Export Rumors
Summer row crops rallied on the CBOT Friday while wheat futures turned lower on expectations that near-term Russian exports will increase substantially. Rumors that Russia may implement a wheat export quota starting in February led to speculation that the country’s exporters will try to f...
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
Mar 22 Corn closed at $5.84/bushel, up $0.0725 from yesterday's close. Mar 22 Wheat closed at $8.0375/bushel, down $0.1125 from yesterday's close. Jan 22 Soybeans closed at $12.6725/bushel, up $0.23 from yesterday's close. Jan 22 Soymeal closed at $358.6/short ton, up $9.8 fro...
Market Commentary: Omicron Correction
It was a risk off day as investors shook off earlier Omicron concerns and bought back part of what they’d given up in the past few days. With indications that this version of the virus is not deadlier, that it may even follow the evolutionary trend of viruses getting weaker over time, and...
Market Commentary: Hogs Crumble; EPA Mandate Rumors Support Corn, Pressure Soy Complex
Corn and wheat turned higher on Tuesday while the soy complex sold off despite strength in palm oil futures. Rumors that the EPA will soon announce its biofuels mandates, including a report from Reuters citing unnamed sources, helped support corn and ethanol demand expectations while painting a...
Summary of Futures
Mar 22 Corn closed at $5.86/bushel, up $0.025 from yesterday's close. Mar 22 Wheat closed at $8.085/bushel, up $0.0225 from yesterday's close. Jan 22 Soybeans closed at $12.5025/bushel, down $0.1125 from yesterday's close. Jan 22 Soymeal closed at $349.7/short ton, down $2.9 f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Pakistan has agreed that the transportation of 50,000 MT wheat from India to Afghanistan, via Pakistan, can be done using Afghan trucks. India had wanted to use Indian trucks and refused to agree to Pakistan trucks. Hopefully Afghan...
Summary of Futures
Mar 22 Corn closed at $5.835/bushel, down $0.005 from yesterday's close. Mar 22 Wheat closed at $8.0625/bushel, up $0.025 from yesterday's close. Jan 22 Soybeans closed at $12.615/bushel, down $0.0575 from yesterday's close. Jan 22 Soymeal closed at $352.6/short ton, down $6 f...
Market Commentary: CBOT Chops Sideways; Wheat Firmer on Russian Troop Movement; Hogs Fall on Weak Cash Prices
The CBOT traded mostly lower to start the week with soymeal dragging soybeans lower, despite a slight rise in soyoil futures. Corn rebounded from the day’s lows and settled just ½-cent lower and held to its recent trading range. Political uncertainty regarding Russia’s troop...
Growing Threat to Trade
Russia is positioning to invade Ukraine if it wants, and China is seeking to put a military base on the Atlantic in Equatorial Guinea. Then there is China’s threats to Taiwan and Iran’s potential abandonment of the nuclear agreement. One of the above could limit grain exports out of...
European Market Analysis
Regional News Russia continues to build its troop presence on the border with Ukraine and has mobilized some 170,000 troops to the region. That is 70,000 more troops than were on the border during last year’s spring build-up. Presidents Putin and Biden are expected to talk Tuesday,...
Mercosur Regional Analysis
Wheat Argentina’s wheat harvest continues at high speed with 12 percent harvested this week. The total has now reached 45 percent of the planted area. Surprises are coming from the nucleus regions with yields above estimates, bringing an additional 430,000 MT to the area. Per Rosari...
Market Commentary: Corn, Soy Rally on South American Forecast; Wheat Falls on Russia Export Rumors
Summer row crops rallied on the CBOT Friday while wheat futures turned lower on expectations that near-term Russian exports will increase substantially. Rumors that Russia may implement a wheat export quota starting in February led to speculation that the country’s exporters will try to f...
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
Mar 22 Corn closed at $5.84/bushel, up $0.0725 from yesterday's close. Mar 22 Wheat closed at $8.0375/bushel, down $0.1125 from yesterday's close. Jan 22 Soybeans closed at $12.6725/bushel, up $0.23 from yesterday's close. Jan 22 Soymeal closed at $358.6/short ton, up $9.8 fro...
Market Commentary: Omicron Correction
It was a risk off day as investors shook off earlier Omicron concerns and bought back part of what they’d given up in the past few days. With indications that this version of the virus is not deadlier, that it may even follow the evolutionary trend of viruses getting weaker over time, and...