Recent Feed Grains Analysis
Market Commentary
Soybeans quickly moved into the green during overnight trading and extended those gains early this morning. November soybeans finished that session 9.75 cents higher, which lent modest support to corn (up 1.75 cents) and wheat (September SRW up 2.25) futures as well. The day session featured st...
Feeding the World
The current global population is estimated to total around 7.5 billion. By most measures, the world creates or produces enough food to feed them all. In theory, the world’s food security has never been higher. Nevertheless, it is estimated that around 800 million people – more than...
Summary of Futures
Dec 19 Corn closed at $4.3575/bushel, up $0.06 from yesterday's close. Sep 19 Wheat closed at $5.025/bushel, up $0.09 from yesterday's close. Nov 19 Soybeans closed at $9.1925/bushel, up $0.2025 from yesterday's close. Dec 19 Soymeal closed at $317.5/short ton, up $4.7 from ye...
PM Post - Technical Covering Following a Bearish Week
THE OPEN November beans: 9 3/4 higher December meal: 2.40 higher December soyoil: 13 higher December corn: 2 1/2 higher September wheat: 4 1/4 higher Prices worked higher as the setback this week has been hefty. Shorts were covering with some also picking bo...
Realistic Expectations
China’s economic growth and now the trade war have rewritten the demand scenario much as the Black Sea region has rewritten the supply side. The Russians have prided themselves on the latter, and a new announcement that at first sounds like a doubling down is a reasonable ambition after f...
Technical Views - Contraseasonal Due to Weather
SPREADS Sep crush trades to 96c/bu while oilshare weakens to 30.95%. Corn spreads are slightly wider with Dec/March trading out to 8 1/2c while Sep/Dec trades out to 5 1/4c from 5c. The Dec/Dec corn inverse trades from 16c down to 13c after rebounding into the 20's last week. ...
AM Outlook: Healthy Dose of Housecleaning
GOOD MORNING, Topping formations and slightly improved forecasts for next week shook the weaker corn bull out this week on a healthy dose of housecleaning activity. Topping formation charts and scattered rainfall over the Midwest created long liquidation in grains, while beans found...
Market Commentary
It was mostly a risk-off day as the prospects for better Midwest weather combined with continued technical selling sent prices lower. It may not be the bottom, but there may be hesitancy to get too far out ahead of the “real” prevented planting number. Moreover, it is still hot, and...
Summary of Futures
Dec 19 Corn closed at $4.2975/bushel, down $0.1175 from yesterday's close. Sep 19 Wheat closed at $4.935/bushel, down $0.12 from yesterday's close. Nov 19 Soybeans closed at $8.99/bushel, down $0.015 from yesterday's close. Dec 19 Soymeal closed at $312.8/short ton, down $0.8...
Risk-off Day
THE OPEN: Nov beans: 3 3/4 lower Dec meal: 1.10 lower Dec soyoil: 2 higher Dec corn: 7 lower Sep wheat: 6 3/4 lower A combination of slightly improved forecasts and technical selling sent prices to new lows for the recent move down (which actually started Mo...
Export Sales
Wheat: Net sales of 347,300 metric tons for 2019/2020 were up 22 percent from the previous week and 2 percent from the prior 4-week average. Corn: Net sales of 200,000 MT for 2018/2019 were down 60 percent from the previous week and 21 percent from the prior 4-week average.&nb...
Watching Nov Beans and Sep Wheat
SPREADS Sep crush is firmer at 98c/bu while oilshare firms back over 30% to trade to 31.10% as meal dips against a firmer soyoil market. Corn spreads are slightly weaker with Dec/March trading from 7 1/4c to 7 3/4c. Dec/Dec inverse falls from a 21 3/4c high to 15c. Sep/Dec mea...
Market Commentary
Soybeans quickly moved into the green during overnight trading and extended those gains early this morning. November soybeans finished that session 9.75 cents higher, which lent modest support to corn (up 1.75 cents) and wheat (September SRW up 2.25) futures as well. The day session featured st...
Feeding the World
The current global population is estimated to total around 7.5 billion. By most measures, the world creates or produces enough food to feed them all. In theory, the world’s food security has never been higher. Nevertheless, it is estimated that around 800 million people – more than...
Summary of Futures
Dec 19 Corn closed at $4.3575/bushel, up $0.06 from yesterday's close. Sep 19 Wheat closed at $5.025/bushel, up $0.09 from yesterday's close. Nov 19 Soybeans closed at $9.1925/bushel, up $0.2025 from yesterday's close. Dec 19 Soymeal closed at $317.5/short ton, up $4.7 from ye...
PM Post - Technical Covering Following a Bearish Week
THE OPEN November beans: 9 3/4 higher December meal: 2.40 higher December soyoil: 13 higher December corn: 2 1/2 higher September wheat: 4 1/4 higher Prices worked higher as the setback this week has been hefty. Shorts were covering with some also picking bo...
Realistic Expectations
China’s economic growth and now the trade war have rewritten the demand scenario much as the Black Sea region has rewritten the supply side. The Russians have prided themselves on the latter, and a new announcement that at first sounds like a doubling down is a reasonable ambition after f...
Technical Views - Contraseasonal Due to Weather
SPREADS Sep crush trades to 96c/bu while oilshare weakens to 30.95%. Corn spreads are slightly wider with Dec/March trading out to 8 1/2c while Sep/Dec trades out to 5 1/4c from 5c. The Dec/Dec corn inverse trades from 16c down to 13c after rebounding into the 20's last week. ...
AM Outlook: Healthy Dose of Housecleaning
GOOD MORNING, Topping formations and slightly improved forecasts for next week shook the weaker corn bull out this week on a healthy dose of housecleaning activity. Topping formation charts and scattered rainfall over the Midwest created long liquidation in grains, while beans found...
Market Commentary
It was mostly a risk-off day as the prospects for better Midwest weather combined with continued technical selling sent prices lower. It may not be the bottom, but there may be hesitancy to get too far out ahead of the “real” prevented planting number. Moreover, it is still hot, and...
Summary of Futures
Dec 19 Corn closed at $4.2975/bushel, down $0.1175 from yesterday's close. Sep 19 Wheat closed at $4.935/bushel, down $0.12 from yesterday's close. Nov 19 Soybeans closed at $8.99/bushel, down $0.015 from yesterday's close. Dec 19 Soymeal closed at $312.8/short ton, down $0.8...
Risk-off Day
THE OPEN: Nov beans: 3 3/4 lower Dec meal: 1.10 lower Dec soyoil: 2 higher Dec corn: 7 lower Sep wheat: 6 3/4 lower A combination of slightly improved forecasts and technical selling sent prices to new lows for the recent move down (which actually started Mo...
Export Sales
Wheat: Net sales of 347,300 metric tons for 2019/2020 were up 22 percent from the previous week and 2 percent from the prior 4-week average. Corn: Net sales of 200,000 MT for 2018/2019 were down 60 percent from the previous week and 21 percent from the prior 4-week average.&nb...
Watching Nov Beans and Sep Wheat
SPREADS Sep crush is firmer at 98c/bu while oilshare firms back over 30% to trade to 31.10% as meal dips against a firmer soyoil market. Corn spreads are slightly weaker with Dec/March trading from 7 1/4c to 7 3/4c. Dec/Dec inverse falls from a 21 3/4c high to 15c. Sep/Dec mea...