Recent Livestock 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...
China In-Country Analysis
Public Health COVID Restrictions Eased in Some Key Cities, Tension Lingers The recent public protests in Shanghai and Beijing marked a level of civil unrest not normally seen in China, since the landmark event of Tiananmen Square in 1989. This is not to say that protests or outrage over governm...
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...
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...
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...
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: CBOT Firms in Pre-Holiday Trade; AMLO Softens Stance on GMOs
The CBOT was mostly higher in quiet, pre-holiday trade and the theme of the day was position liquidation and risk-off heading into what is practically a four-day weekend. Corn and soybeans found fundamental strength from higher ethanol output and export sales to China, respectively. That helped...
Summary of Futures
Dec 22 Corn closed at $6.6325/bushel, up $0.065 from yesterday's close. Mar 23 Wheat closed at $8.135/bushel, up $0.03 from yesterday's close. Jan 23 Soybeans closed at $14.36/bushel, up $0.0625 from yesterday's close. Dec 22 Soymeal closed at $409.7/short ton, up $1.1 from ye...
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...
China In-Country Analysis
Public Health COVID Restrictions Eased in Some Key Cities, Tension Lingers The recent public protests in Shanghai and Beijing marked a level of civil unrest not normally seen in China, since the landmark event of Tiananmen Square in 1989. This is not to say that protests or outrage over governm...
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...
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...
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...
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: CBOT Firms in Pre-Holiday Trade; AMLO Softens Stance on GMOs
The CBOT was mostly higher in quiet, pre-holiday trade and the theme of the day was position liquidation and risk-off heading into what is practically a four-day weekend. Corn and soybeans found fundamental strength from higher ethanol output and export sales to China, respectively. That helped...
Summary of Futures
Dec 22 Corn closed at $6.6325/bushel, up $0.065 from yesterday's close. Mar 23 Wheat closed at $8.135/bushel, up $0.03 from yesterday's close. Jan 23 Soybeans closed at $14.36/bushel, up $0.0625 from yesterday's close. Dec 22 Soymeal closed at $409.7/short ton, up $1.1 from ye...