Recent Feed Grains Analysis
Market Commentary: Dead Cat Bounce in Wheat; Soy Extends its Rally; EIA RVOs Still Pending
The CBOT was mostly higher at mid-week with soymeal and soybeans leading the way in a demand-fueled rally. Wheat traded sideways for the morning but eventually found some buying interest and rallied heading into the close to settle 12-14 cents higher. The wheat rally lacked any fundamental just...
Summary of Futures
Mar 23 Corn closed at $6.67/bushel, down $0.025 from yesterday's close. Mar 23 Wheat closed at $7.955/bushel, up $0.14 from yesterday's close. Jan 23 Soybeans closed at $14.695/bushel, up $0.1 from yesterday's close. Jan 23 Soymeal closed at $417.8/short ton, up $10.2 from yes...
Black Sea Regional Analysis
Russian Grain Markets: 21-25 November 2022 The feature of the week remains the same – extension of the UN humanitarian Black Sea corridor under UN auspices with Turkey being the guarantor of the transaction. While Ukrainians are complaining about terrible delays with Russian inspections a...
Market Commentary: Soy Rally Continues; Wheat, Corn Drift Lower; House Moves to Preempt Rail Strike
The CBOT largely continued its prior trends on Tuesday with soybeans adding to Monday’s rally despite a pullback in soyoil. Corn chopped sideways again and stayed within the range that has defined its trade for the past thirteen trading days. SRW wheat bounced higher as funds took a brief...
Summary of Futures
Mar 23 Corn closed at $6.695/bushel, down $0.0175 from yesterday's close. Mar 23 Wheat closed at $7.815/bushel, up $0.0075 from yesterday's close. Jan 23 Soybeans closed at $14.595/bushel, up $0.0225 from yesterday's close. Jan 23 Soymeal closed at $407.6/short ton, down $4.1...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Sri Lanka will benefit from a program by Thailand and the United Nations to supply quality maize seed to help with increasing food security – the maize will be used in the livestock industry when harvested...
Market Commentary: Argentina Creates New “Soy Dollar”; CBOT Soy Complex Rallies; Hog Selloff Intensifies
The CBOT started the day on a weak note with the protests in China and the government’s resulting crackdown creating widespread pressure on financial and commodity markets. The protests and the government’s response created worries about the Middle Kingdom’s demand for a myria...
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
Dec 22 Corn closed at $6.6875/bushel, up $0.0075 from yesterday's close. Mar 23 Wheat closed at $7.8075/bushel, down $0.1625 from yesterday's close. Jan 23 Soybeans closed at $14.5725/bushel, up $0.21 from yesterday's close. Jan 23 Soymeal closed at $411.7/short ton, up $5.4 f...
Mercosur Regional Analysis
Corn Brazil Finally, the first vessel loaded with Brazil corn and destined for China will leave the port of Santos this week. The vessel Mv Star Iris is set to load 68,000 MT of corn for COFCO. Many expected Brazil to start shipping corn in 2023, but others expected it to occur in December 2022...
Market Commentary: Export Sales Bolsters Corn Futures; Wheat Selloff Accelerates
Corn was the upside leader for the CBOT in a generally quiet day of post-Thanksgiving trading. The Export Sales report offered support for corn but did little for the other major ag commodities. Soybeans traded both sides of unchanged and ended slightly higher while wheat sold off sharply headi...
Summary of Futures
Dec 22 Corn closed at $6.68/bushel, up $0.0475 from yesterday's close. Mar 23 Wheat closed at $7.97/bushel, down $0.165 from yesterday's close. Jan 23 Soybeans closed at $14.3625/bushel, up $0.0025 from yesterday's close. Jan 23 Soymeal closed at $406.3/short ton, down $1.1 fr...
Market Commentary: Dead Cat Bounce in Wheat; Soy Extends its Rally; EIA RVOs Still Pending
The CBOT was mostly higher at mid-week with soymeal and soybeans leading the way in a demand-fueled rally. Wheat traded sideways for the morning but eventually found some buying interest and rallied heading into the close to settle 12-14 cents higher. The wheat rally lacked any fundamental just...
Summary of Futures
Mar 23 Corn closed at $6.67/bushel, down $0.025 from yesterday's close. Mar 23 Wheat closed at $7.955/bushel, up $0.14 from yesterday's close. Jan 23 Soybeans closed at $14.695/bushel, up $0.1 from yesterday's close. Jan 23 Soymeal closed at $417.8/short ton, up $10.2 from yes...
Black Sea Regional Analysis
Russian Grain Markets: 21-25 November 2022 The feature of the week remains the same – extension of the UN humanitarian Black Sea corridor under UN auspices with Turkey being the guarantor of the transaction. While Ukrainians are complaining about terrible delays with Russian inspections a...
Market Commentary: Soy Rally Continues; Wheat, Corn Drift Lower; House Moves to Preempt Rail Strike
The CBOT largely continued its prior trends on Tuesday with soybeans adding to Monday’s rally despite a pullback in soyoil. Corn chopped sideways again and stayed within the range that has defined its trade for the past thirteen trading days. SRW wheat bounced higher as funds took a brief...
Summary of Futures
Mar 23 Corn closed at $6.695/bushel, down $0.0175 from yesterday's close. Mar 23 Wheat closed at $7.815/bushel, up $0.0075 from yesterday's close. Jan 23 Soybeans closed at $14.595/bushel, up $0.0225 from yesterday's close. Jan 23 Soymeal closed at $407.6/short ton, down $4.1...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Sri Lanka will benefit from a program by Thailand and the United Nations to supply quality maize seed to help with increasing food security – the maize will be used in the livestock industry when harvested...
Market Commentary: Argentina Creates New “Soy Dollar”; CBOT Soy Complex Rallies; Hog Selloff Intensifies
The CBOT started the day on a weak note with the protests in China and the government’s resulting crackdown creating widespread pressure on financial and commodity markets. The protests and the government’s response created worries about the Middle Kingdom’s demand for a myria...
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
Dec 22 Corn closed at $6.6875/bushel, up $0.0075 from yesterday's close. Mar 23 Wheat closed at $7.8075/bushel, down $0.1625 from yesterday's close. Jan 23 Soybeans closed at $14.5725/bushel, up $0.21 from yesterday's close. Jan 23 Soymeal closed at $411.7/short ton, up $5.4 f...
Mercosur Regional Analysis
Corn Brazil Finally, the first vessel loaded with Brazil corn and destined for China will leave the port of Santos this week. The vessel Mv Star Iris is set to load 68,000 MT of corn for COFCO. Many expected Brazil to start shipping corn in 2023, but others expected it to occur in December 2022...
Market Commentary: Export Sales Bolsters Corn Futures; Wheat Selloff Accelerates
Corn was the upside leader for the CBOT in a generally quiet day of post-Thanksgiving trading. The Export Sales report offered support for corn but did little for the other major ag commodities. Soybeans traded both sides of unchanged and ended slightly higher while wheat sold off sharply headi...
Summary of Futures
Dec 22 Corn closed at $6.68/bushel, up $0.0475 from yesterday's close. Mar 23 Wheat closed at $7.97/bushel, down $0.165 from yesterday's close. Jan 23 Soybeans closed at $14.3625/bushel, up $0.0025 from yesterday's close. Jan 23 Soymeal closed at $406.3/short ton, down $1.1 fr...