Recent Livestock Analysis
Market Commentary
Note that the CBOT markets will be closed on Monday, 20 January 2020 for the Martin Luther King Jr. holiday. The CBOT traded another volatile day with corn erasing yesterday’s steep losses and wheat, soybeans, and soyoil all finishing higher as well. Rumors of Chinese corn and sorgh...
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 20 Corn closed at $3.8925/bushel, up $0.1375 from yesterday's close. Mar 20 Wheat closed at $5.705/bushel, up $0.0525 from yesterday's close. Mar 20 Soybeans closed at $9.2975/bushel, up $0.0575 from yesterday's close. Mar 20 Soymeal closed at $300.6/short ton, up $0 from...
Growing Chinese Dairy Market
Reflecting the rapid growth of China’s dairy import needs, albeit from a small base, the new economic agreement between Beijing and Washington includes market access requirements intended to grow the trade. As is common throughout the agreement, the U.S. commits to working on removing its...
Market Commentary
It was mostly a down day for the futures market and the most persistent rationale given is disappointment in the substance in the U.S. – China trade agreement. As can happen between Washington, New York and Chicago, there is somewhat of a disconnect between the policy wonks and the...
Summary of Futures
Mar 20 Corn closed at $3.755/bushel, down $0.12 from yesterday's close. Mar 20 Wheat closed at $5.6525/bushel, down $0.08 from yesterday's close. Mar 20 Soybeans closed at $9.24/bushel, down $0.0475 from yesterday's close. Mar 20 Soymeal closed at $300.6/short ton, up $0.5 fro...
Livestock Round Up
China Phase One Trade Deal and Proteins President Trump and Vice Premier He signed the Phase One China trade deal yesterday. As had been widely expected, China’s commitment is an aggregate marginal increase of $32 billion in total ag purchases over the next two years. This increase would...
Market Commentary
China was, of course, the focus for today’s trading but the CBOT opened with notable activity before the trade agreement was released. Wheat futures posted strong gains early in the trading day with buy wheat/sell corn trade. The soy complex was broadly weaker after palm oil futures and E...
Summary of Futures
Mar 20 Corn closed at $3.875/bushel, down $0.015 from yesterday's close. Mar 20 Wheat closed at $5.7325/bushel, up $0.0475 from yesterday's close. Mar 20 Soybeans closed at $9.2875/bushel, down $0.135 from yesterday's close. Mar 20 Soymeal closed at $300.1/short ton, down $1.9...
China In-Country Analysis
Livestock Rapid Rise in Live Hog Price Shows Beijing’s Myopic Ineptitude Newly released information from China’s National Bureau of Statistics reveals just how slow of a moving train wreck the rise in pork prices has been as a result of African Swine Fever (ASF). According to the da...
Market Commentary
The CBOT opened as called with wheat leading the way higher. Overnight news that the Russian ag ministry is considering adopting a policy that would permit the restriction of wheat exports (though WPI argues this is unlikely to be used this year) put a bid under the wheat market. Similarly, rum...
Summary of Futures
Mar 20 Corn closed at $3.89/bushel, down $0.005 from yesterday's close. Mar 20 Wheat closed at $5.685/bushel, up $0.0625 from yesterday's close. Mar 20 Soybeans closed at $9.4225/bushel, up $0 from yesterday's close. Mar 20 Soymeal closed at $302/short ton, down $1.8 from yest...
Market Commentary
Note that the CBOT markets will be closed on Monday, 20 January 2020 for the Martin Luther King Jr. holiday. The CBOT traded another volatile day with corn erasing yesterday’s steep losses and wheat, soybeans, and soyoil all finishing higher as well. Rumors of Chinese corn and sorgh...
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 20 Corn closed at $3.8925/bushel, up $0.1375 from yesterday's close. Mar 20 Wheat closed at $5.705/bushel, up $0.0525 from yesterday's close. Mar 20 Soybeans closed at $9.2975/bushel, up $0.0575 from yesterday's close. Mar 20 Soymeal closed at $300.6/short ton, up $0 from...
Growing Chinese Dairy Market
Reflecting the rapid growth of China’s dairy import needs, albeit from a small base, the new economic agreement between Beijing and Washington includes market access requirements intended to grow the trade. As is common throughout the agreement, the U.S. commits to working on removing its...
Market Commentary
It was mostly a down day for the futures market and the most persistent rationale given is disappointment in the substance in the U.S. – China trade agreement. As can happen between Washington, New York and Chicago, there is somewhat of a disconnect between the policy wonks and the...
Summary of Futures
Mar 20 Corn closed at $3.755/bushel, down $0.12 from yesterday's close. Mar 20 Wheat closed at $5.6525/bushel, down $0.08 from yesterday's close. Mar 20 Soybeans closed at $9.24/bushel, down $0.0475 from yesterday's close. Mar 20 Soymeal closed at $300.6/short ton, up $0.5 fro...
Livestock Round Up
China Phase One Trade Deal and Proteins President Trump and Vice Premier He signed the Phase One China trade deal yesterday. As had been widely expected, China’s commitment is an aggregate marginal increase of $32 billion in total ag purchases over the next two years. This increase would...
Market Commentary
China was, of course, the focus for today’s trading but the CBOT opened with notable activity before the trade agreement was released. Wheat futures posted strong gains early in the trading day with buy wheat/sell corn trade. The soy complex was broadly weaker after palm oil futures and E...
Summary of Futures
Mar 20 Corn closed at $3.875/bushel, down $0.015 from yesterday's close. Mar 20 Wheat closed at $5.7325/bushel, up $0.0475 from yesterday's close. Mar 20 Soybeans closed at $9.2875/bushel, down $0.135 from yesterday's close. Mar 20 Soymeal closed at $300.1/short ton, down $1.9...
China In-Country Analysis
Livestock Rapid Rise in Live Hog Price Shows Beijing’s Myopic Ineptitude Newly released information from China’s National Bureau of Statistics reveals just how slow of a moving train wreck the rise in pork prices has been as a result of African Swine Fever (ASF). According to the da...
Market Commentary
The CBOT opened as called with wheat leading the way higher. Overnight news that the Russian ag ministry is considering adopting a policy that would permit the restriction of wheat exports (though WPI argues this is unlikely to be used this year) put a bid under the wheat market. Similarly, rum...
Summary of Futures
Mar 20 Corn closed at $3.89/bushel, down $0.005 from yesterday's close. Mar 20 Wheat closed at $5.685/bushel, up $0.0625 from yesterday's close. Mar 20 Soybeans closed at $9.4225/bushel, up $0 from yesterday's close. Mar 20 Soymeal closed at $302/short ton, down $1.8 from yest...