Recent Livestock Analysis
Market Commentary: Awaiting New Inputs
It was a modest day in the pits with wheat in the green and corn and soybeans in the red. After yesterday’s profit-taking there was leveling out today ahead of the weekend as traders await more actionable factors early next week. A U.S. – China bilateral consultation scheduled for t...
Farm Spending: $7 Billion Down, $43 Billion to Go
According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act...
Summary of Futures
Dec 20 Corn closed at $3.38/bushel, up $0.0375 from yesterday's close. Sep 20 Wheat closed at $5/bushel, down $0.0375 from yesterday's close. Nov 20 Soybeans closed at $8.9875/bushel, up $0.095 from yesterday's close. Dec 20 Soymeal closed at $298.5/short ton, up $0.3 from yes...
Market Commentary: Day of Regrets
Yesterday’s bump in the market was because USDA’s WASDE report was not as bearish as feared. Today’s jump is harder to explain - it seems miscalculated. Some say it was based on the prevented planting acres data, but the World Agricultural Outlook Board would have had those nu...
Livestock Round Up: COVID and Pork
Yesterday’s WASDE showed USDA’s red meat and broiler production forecast down slightly from last month’s forecasts with lower projected pork production offsetting increases in beef and broilers. Broiler production forecasts remain down the most from the pre-COVID March estimat...
Summary of Futures
Dec 20 Corn closed at $3.3875/bushel, up $0.115 from yesterday's close. Sep 20 Wheat closed at $4.9675/bushel, up $0.055 from yesterday's close. Nov 20 Soybeans closed at $8.995/bushel, up $0.165 from yesterday's close. Dec 20 Soymeal closed at $298.7/short ton, up $8.9 from y...
Market Commentary
The CBOT finished higher in the wake of a WASDE report that featured record large U.S. corn and soybean yields. The report was not quite as bearish as pre-report expectations suggested, with ending stocks figures for corn and soybeans remaining in-line with historic norms. Additional support ca...
Summary of Futures
Dec 20 Corn closed at $3.2725/bushel, up $0.0375 from yesterday's close. Sep 20 Wheat closed at $4.9125/bushel, down $0.0375 from yesterday's close. Nov 20 Soybeans closed at $8.83/bushel, up $0.095 from yesterday's close. Dec 20 Soymeal closed at $289.8/short ton, up $0.3 fro...
China In-Country Analysis
Macroeconomics Food Prices Up by 13.2 Percent in July For the second straight month, the cost of food in China was up year-on-year by double digits. Following a 11.1 percent increase in June, higher pork, vegetable, cooking oil, and dairy products pushed up food inflation to 13.2 percent, the l...
Market Commentary: Wind versus WASDE
Yesterday’s “derecho” weather event that brought hurricane-force winds to parts of Iowa, Illinois, Wisconsin, and Indiana likely caused 200-400 million bushels of lost corn production. Some estimates suggest the event may have lowered the U.S. national corn yield by as much as...
Summary of Futures
Dec 20 Corn closed at $3.235/bushel, up $0.005 from yesterday's close. Sep 20 Wheat closed at $4.95/bushel, up $0.04 from yesterday's close. Nov 20 Soybeans closed at $8.735/bushel, up $0.0025 from yesterday's close. Dec 20 Soymeal closed at $289.5/short ton, down $0.1 from ye...
Market Commentary
The CBOT was mixed with corn and soybeans higher on short-covering and fundamental support heading into Wednesday’s WASDE. End-users were net buyers in corn and funds covered some of their short position as well. Soybeans posted 4-6 cent gains as the market bounced from technical support...
Market Commentary: Awaiting New Inputs
It was a modest day in the pits with wheat in the green and corn and soybeans in the red. After yesterday’s profit-taking there was leveling out today ahead of the weekend as traders await more actionable factors early next week. A U.S. – China bilateral consultation scheduled for t...
Farm Spending: $7 Billion Down, $43 Billion to Go
According to the Monthly Treasury Statement issued by the Department of Treasury, USDA has spent about $149.53 billion so far this fiscal year. That means there is about $6 billion left in USDA’s regular budget checking account for the last two months of the fiscal year, and the CARES Act...
Summary of Futures
Dec 20 Corn closed at $3.38/bushel, up $0.0375 from yesterday's close. Sep 20 Wheat closed at $5/bushel, down $0.0375 from yesterday's close. Nov 20 Soybeans closed at $8.9875/bushel, up $0.095 from yesterday's close. Dec 20 Soymeal closed at $298.5/short ton, up $0.3 from yes...
Market Commentary: Day of Regrets
Yesterday’s bump in the market was because USDA’s WASDE report was not as bearish as feared. Today’s jump is harder to explain - it seems miscalculated. Some say it was based on the prevented planting acres data, but the World Agricultural Outlook Board would have had those nu...
Livestock Round Up: COVID and Pork
Yesterday’s WASDE showed USDA’s red meat and broiler production forecast down slightly from last month’s forecasts with lower projected pork production offsetting increases in beef and broilers. Broiler production forecasts remain down the most from the pre-COVID March estimat...
Summary of Futures
Dec 20 Corn closed at $3.3875/bushel, up $0.115 from yesterday's close. Sep 20 Wheat closed at $4.9675/bushel, up $0.055 from yesterday's close. Nov 20 Soybeans closed at $8.995/bushel, up $0.165 from yesterday's close. Dec 20 Soymeal closed at $298.7/short ton, up $8.9 from y...
Market Commentary
The CBOT finished higher in the wake of a WASDE report that featured record large U.S. corn and soybean yields. The report was not quite as bearish as pre-report expectations suggested, with ending stocks figures for corn and soybeans remaining in-line with historic norms. Additional support ca...
Summary of Futures
Dec 20 Corn closed at $3.2725/bushel, up $0.0375 from yesterday's close. Sep 20 Wheat closed at $4.9125/bushel, down $0.0375 from yesterday's close. Nov 20 Soybeans closed at $8.83/bushel, up $0.095 from yesterday's close. Dec 20 Soymeal closed at $289.8/short ton, up $0.3 fro...
China In-Country Analysis
Macroeconomics Food Prices Up by 13.2 Percent in July For the second straight month, the cost of food in China was up year-on-year by double digits. Following a 11.1 percent increase in June, higher pork, vegetable, cooking oil, and dairy products pushed up food inflation to 13.2 percent, the l...
Market Commentary: Wind versus WASDE
Yesterday’s “derecho” weather event that brought hurricane-force winds to parts of Iowa, Illinois, Wisconsin, and Indiana likely caused 200-400 million bushels of lost corn production. Some estimates suggest the event may have lowered the U.S. national corn yield by as much as...
Summary of Futures
Dec 20 Corn closed at $3.235/bushel, up $0.005 from yesterday's close. Sep 20 Wheat closed at $4.95/bushel, up $0.04 from yesterday's close. Nov 20 Soybeans closed at $8.735/bushel, up $0.0025 from yesterday's close. Dec 20 Soymeal closed at $289.5/short ton, down $0.1 from ye...
Market Commentary
The CBOT was mixed with corn and soybeans higher on short-covering and fundamental support heading into Wednesday’s WASDE. End-users were net buyers in corn and funds covered some of their short position as well. Soybeans posted 4-6 cent gains as the market bounced from technical support...