Recent Livestock Analysis
Summary of Futures
Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close. Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close. Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close. Jan 21 Soymeal closed at $390.2/short ton, down $...
Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support
The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA An electrical fire at the main grain silo in Tartous Syria has meant that 35,000 MT of wheat had to be moved to other storage. The wheat was not damaged by the fire but there was some damage to the silos – total damage to the s...
Market Commentary: South American Rains Douse CBOT Rallies
Heavy weekend rains for parts of South America took away a pillar of bullish support and sparked aggressive selling at the CBOT on Monday. March corn posted a new contract high overnight but could not hold gains and soybeans were once again stymied at the $12.00 level. The day session saw soybe...
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 21 Corn closed at $4.26/bushel, down $0.0775 from yesterday's close. Mar 21 Wheat closed at $5.85/bushel, down $0.21 from yesterday's close. Jan 21 Soybeans closed at $11.685/bushel, down $0.2325 from yesterday's close. Jan 21 Soymeal closed at $390.5/short ton, down $5.8...
Summary of Futures
Mar 21 Corn closed at $4.3375/bushel, up $0.0625 from yesterday's close. Mar 21 Wheat closed at $6.06/bushel, up $0.095 from yesterday's close. Jan 21 Soybeans closed at $11.9175/bushel, up $0.0775 from yesterday's close. Jan 21 Soymeal closed at $396.3/short ton, up $0.4 from...
Market Commentary: Weak U. S. Dollar, Strong Export Sales Lift CBOT
The CBOT ended the U.S. Thanksgiving holiday week higher as strong export sales news, a weaker U.S. dollar, and continued dry weather in South America were supportive. Malaysian palm oil futures rallied sharply overnight, which aided CBOT soyoil in heading higher on Friday, thereby supporting s...
Market Commentary: CBOT Lower on Profit-Taking, Position-Liquidation; Brazil Enters Record Drought
CBOT markets traded higher overnight heading into the U.S. Thanksgiving holiday with soymeal posting new contract highs in the process. The day session, however, saw profit taking develop once again and selling pressure accelerated in wheat throughout the day. Soyoil and the livestock contracts...
China In-Country Analysis
Livestock Major Hog Producers Unveil Ambitious 2021 Goals One of the likely legacies of African Swine Fever (ASF) is the way it expedited a shift away from small farms to large integrated hog operations. When ASF hit, the process was already underway as a result of new environmental regulations...
Black Sea Regional Analysis
Russian Grain Markets: 16-20 November 2020 The Russian domestic wheat prices decreased in some regions (mainly southern) due to a decrease in export prices and CPT-port prices and a stronger ruble. In other regions the price increases slowed down. Barley and corn prices kept growing as they did...
Market Commentary: Strengthening La Nina Ends Early Profit-Taking at CBOT
CBOT markets opened sharply lower on Tuesday as profit taking and pre-holiday position evening/liquidation pressured markets. Rumors of China cancelling some of its soybean bookings from the U.S. further pressured values, as did thoughts that some U.S. February shipments could be switched to Br...
Summary of Futures
Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close. Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close. Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close. Jan 21 Soymeal closed at $390.2/short ton, down $...
Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support
The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA An electrical fire at the main grain silo in Tartous Syria has meant that 35,000 MT of wheat had to be moved to other storage. The wheat was not damaged by the fire but there was some damage to the silos – total damage to the s...
Market Commentary: South American Rains Douse CBOT Rallies
Heavy weekend rains for parts of South America took away a pillar of bullish support and sparked aggressive selling at the CBOT on Monday. March corn posted a new contract high overnight but could not hold gains and soybeans were once again stymied at the $12.00 level. The day session saw soybe...
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 21 Corn closed at $4.26/bushel, down $0.0775 from yesterday's close. Mar 21 Wheat closed at $5.85/bushel, down $0.21 from yesterday's close. Jan 21 Soybeans closed at $11.685/bushel, down $0.2325 from yesterday's close. Jan 21 Soymeal closed at $390.5/short ton, down $5.8...
Summary of Futures
Mar 21 Corn closed at $4.3375/bushel, up $0.0625 from yesterday's close. Mar 21 Wheat closed at $6.06/bushel, up $0.095 from yesterday's close. Jan 21 Soybeans closed at $11.9175/bushel, up $0.0775 from yesterday's close. Jan 21 Soymeal closed at $396.3/short ton, up $0.4 from...
Market Commentary: Weak U. S. Dollar, Strong Export Sales Lift CBOT
The CBOT ended the U.S. Thanksgiving holiday week higher as strong export sales news, a weaker U.S. dollar, and continued dry weather in South America were supportive. Malaysian palm oil futures rallied sharply overnight, which aided CBOT soyoil in heading higher on Friday, thereby supporting s...
Market Commentary: CBOT Lower on Profit-Taking, Position-Liquidation; Brazil Enters Record Drought
CBOT markets traded higher overnight heading into the U.S. Thanksgiving holiday with soymeal posting new contract highs in the process. The day session, however, saw profit taking develop once again and selling pressure accelerated in wheat throughout the day. Soyoil and the livestock contracts...
China In-Country Analysis
Livestock Major Hog Producers Unveil Ambitious 2021 Goals One of the likely legacies of African Swine Fever (ASF) is the way it expedited a shift away from small farms to large integrated hog operations. When ASF hit, the process was already underway as a result of new environmental regulations...
Black Sea Regional Analysis
Russian Grain Markets: 16-20 November 2020 The Russian domestic wheat prices decreased in some regions (mainly southern) due to a decrease in export prices and CPT-port prices and a stronger ruble. In other regions the price increases slowed down. Barley and corn prices kept growing as they did...
Market Commentary: Strengthening La Nina Ends Early Profit-Taking at CBOT
CBOT markets opened sharply lower on Tuesday as profit taking and pre-holiday position evening/liquidation pressured markets. Rumors of China cancelling some of its soybean bookings from the U.S. further pressured values, as did thoughts that some U.S. February shipments could be switched to Br...