World Perspectives

Livestock Recent Livestock Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Futures Scream Higher; Cash Markets Also on Fire

The CBOT continues to scream higher with Chinese buying of U.S. corn and soybeans underpinning prices. Managed money funds have been aggressive buyers as technical analysis has shown few, if any, reasons to be bearish or sell a long position. The rally is not isolated to the futures market eith...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.785/bushel, up $0.0325 from yesterday's close.  Dec 20 Wheat closed at $5.75/bushel, up $0.1875 from yesterday's close.  Nov 20 Soybeans closed at $10.435/bushel, up $0.15 from yesterday's close.  Dec 20 Soymeal closed at $342.1/short ton, up $6.8 from ye...

soy-oilseeds feed-grains wheat

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...

feed-grains soy-oilseeds wheat

Market Commentary: Gambling on China

The market has been on a tear and it is all based on current demand from China and speculation that it will continue. Current demand prompts news articles about U.S. infrastructure capacity to service it, prospective future demand has funds lined up to go longer. The fundamentals leave us quest...

livestock

Livestock Round Up: Dairy Market Still Searching for Balance

The final 2019 dairy utilization data from USDA released this week shows that per capita conumption of milk is at an historic high of 650 pounds. Annual dairy consumption increased by 12.4 percent from 2017 to 2109, while fluid milk, the highest priced use of milk dropped. The annual increase...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.7525/bushel, up $0.035 from yesterday's close.  Dec 20 Wheat closed at $5.5625/bushel, up $0.1425 from yesterday's close.  Nov 20 Soybeans closed at $10.285/bushel, up $0.1725 from yesterday's close.  Dec 20 Soymeal closed at $335.3/short ton, up $9.6 fro...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies on Chinese Buying (again); Historic Soybean Spreads

The CBOT drifted lower overnight with corn and soybeans testing technical support. That weakness was short-lived in soybeans, however, as rumors of Chinese purchases helped the market firm heading into the morning’s opening bell. The day session corn, soybeans and wheat jump higher at the...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.7175/bushel, up $0.0575 from yesterday's close.  Dec 20 Wheat closed at $5.42/bushel, up $0.0375 from yesterday's close.  Nov 20 Soybeans closed at $10.1125/bushel, up $0.1975 from yesterday's close.  Dec 20 Soymeal closed at $325.7/short ton, up $6.5 fro...

feed-grains soy-oilseeds wheat

China In-Country Analysis

Livestock China Furthers Stimulates Live Hog Production and Risks Grow China’s Ministry of Agriculture and Rural Affairs (MARA) recently announced an increase in the central government’s direct subsidy to major live hog production counties. The new policy will increase the annual am...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Turns Lower with Harvest Looming

Now halfway through the month of September, the CBOT is looking like the rally is ending, or at least on pause for a while. Row crops and wheat were lower as the focus turns to the large U.S. harvest and overbought technical conditions. The U.S. corn harvest is starting and early yield results...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.66/bushel, down $0.035 from yesterday's close.  Dec 20 Wheat closed at $5.3825/bushel, down $0.075 from yesterday's close.  Nov 20 Soybeans closed at $9.915/bushel, down $0.08 from yesterday's close.  Dec 20 Soymeal closed at $319.2/short ton, down $2.8 f...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies Again; WPI 2020 S&D; Beef Turning Bullish

The CBOT was mostly higher to start the week with soybeans and soyoil extending their rallies. Corn and wheat were firmer but posted a relatively lackluster day of trading. Soyoil reversed course and fell lower under pressure from long profit taking and bull soyoil/soymeal spreads. Cattle futur...

livestock

Pork Progress

China claims that its pig herd is now down 20 percent from before ASF decimated its stock, but USDA places the country's pork production down 33 percent. Pork meat imports over that same period are up 193 percent. China is subsidizing pig farmers both large and small, but it doesn’t help...

feed-grains soy-oilseeds wheat

Market Commentary: WASDE Neutral, Soybeans Rally Anyway; Hogs Explode Higher

The September WASDE failed to offer truly bullish surprises, but you wouldn’t know that from the CBOT’s reaction. The soy complex ended sharply higher for the day and November soybeans briefly challenged the $10.00 mark. Corn finished the day basically steady as pre-report gains wer...

biofuel livestock

SREs; WASDE Livestock; COVID Politics

Reports leaked out of the Administration this week that President Trump has directed EPA to deny all of the so-called gap year small refinery exemption petitions. As we reported previously, the Department of Energy (DOE) has made recommendations on the 58 gap year petitions that were received e...

livestock wheat soy-oilseeds

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...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.685/bushel, up $0.035 from yesterday's close.  Dec 20 Wheat closed at $5.42/bushel, down $0.0625 from yesterday's close.  Nov 20 Soybeans closed at $9.96/bushel, up $0.185 from yesterday's close.  Dec 20 Soymeal closed at $324.6/short ton, up $7.1 from ye...

livestock

Livestock Round Up: Already Low Hog Prices Moving into Seasonal Low-Price Period

The July monthly export data show both beef and pork down from year-ago levels but up from June. Compared to June, beef exports were up 36 percent in volume and 9 percent below July 2019. Pork exports were up 7 percent over June but 5 percent below year-ago levels. July was the lowest month sin...

feed-grains soy-oilseeds wheat

Market Commentary: Big Bets on Tomorrow

The market is frothy. Tomorrow’s USDA WASDE report could affirm today’s relatively bullish sentiment, or it could break it on fundamentals. The question is whether USDA’s corrections in yield, production and stocks go as far as current guesses. In all likelihood, there will be...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.65/bushel, up $0.0475 from yesterday's close.  Dec 20 Wheat closed at $5.4825/bushel, up $0.045 from yesterday's close.  Nov 20 Soybeans closed at $9.775/bushel, down $0.0125 from yesterday's close.  Dec 20 Soymeal closed at $317.5/short ton, down $0.6 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Hogs and Soybeans Rally, Grains Consolidate

The CBOT traded a relatively quiet day with corn consolidating and wheat attempting to turn lower before support entered on a break below key moving averages. Soybeans rallied once again on news of fresh export sales to China and soymeal followed suite. Funds were net buyers in soybean and soym...

feed-grains soy-oilseeds wheat

China In-Country Analysis

Macroeconomic Trends Food Inflation Falls in August, Remains Above 10 Percent Following a 2.2 percent increase in July, food prices fell in August to an annualized growth rate of 11.2 percent. That marked the 13th consecutive month that the cost of food in China has risen year-on-year by 10 per...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.6025/bushel, down $0.015 from yesterday's close.  Dec 20 Wheat closed at $5.4375/bushel, down $0.005 from yesterday's close.  Nov 20 Soybeans closed at $9.7875/bushel, up $0.0575 from yesterday's close.  Dec 20 Soymeal closed at $318.1/short ton, up $3.5...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Mostly Higher; WPI 2020 Corn, Soybean Forecasts

The CBOT opened on a mixed note with early selling pressure developing in the soy complex. By the afternoon, however, continued demand corn and soybeans pushed those markets higher while wheat futures were lower. Wheat was pressured by higher Australian production estimates as well as bear spre...

feed-grains soy-oilseeds wheat

Market Commentary: Futures Scream Higher; Cash Markets Also on Fire

The CBOT continues to scream higher with Chinese buying of U.S. corn and soybeans underpinning prices. Managed money funds have been aggressive buyers as technical analysis has shown few, if any, reasons to be bearish or sell a long position. The rally is not isolated to the futures market eith...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.785/bushel, up $0.0325 from yesterday's close.  Dec 20 Wheat closed at $5.75/bushel, up $0.1875 from yesterday's close.  Nov 20 Soybeans closed at $10.435/bushel, up $0.15 from yesterday's close.  Dec 20 Soymeal closed at $342.1/short ton, up $6.8 from ye...

soy-oilseeds feed-grains wheat

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...

feed-grains soy-oilseeds wheat

Market Commentary: Gambling on China

The market has been on a tear and it is all based on current demand from China and speculation that it will continue. Current demand prompts news articles about U.S. infrastructure capacity to service it, prospective future demand has funds lined up to go longer. The fundamentals leave us quest...

livestock

Livestock Round Up: Dairy Market Still Searching for Balance

The final 2019 dairy utilization data from USDA released this week shows that per capita conumption of milk is at an historic high of 650 pounds. Annual dairy consumption increased by 12.4 percent from 2017 to 2109, while fluid milk, the highest priced use of milk dropped. The annual increase...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.7525/bushel, up $0.035 from yesterday's close.  Dec 20 Wheat closed at $5.5625/bushel, up $0.1425 from yesterday's close.  Nov 20 Soybeans closed at $10.285/bushel, up $0.1725 from yesterday's close.  Dec 20 Soymeal closed at $335.3/short ton, up $9.6 fro...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies on Chinese Buying (again); Historic Soybean Spreads

The CBOT drifted lower overnight with corn and soybeans testing technical support. That weakness was short-lived in soybeans, however, as rumors of Chinese purchases helped the market firm heading into the morning’s opening bell. The day session corn, soybeans and wheat jump higher at the...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.7175/bushel, up $0.0575 from yesterday's close.  Dec 20 Wheat closed at $5.42/bushel, up $0.0375 from yesterday's close.  Nov 20 Soybeans closed at $10.1125/bushel, up $0.1975 from yesterday's close.  Dec 20 Soymeal closed at $325.7/short ton, up $6.5 fro...

feed-grains soy-oilseeds wheat

China In-Country Analysis

Livestock China Furthers Stimulates Live Hog Production and Risks Grow China’s Ministry of Agriculture and Rural Affairs (MARA) recently announced an increase in the central government’s direct subsidy to major live hog production counties. The new policy will increase the annual am...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Turns Lower with Harvest Looming

Now halfway through the month of September, the CBOT is looking like the rally is ending, or at least on pause for a while. Row crops and wheat were lower as the focus turns to the large U.S. harvest and overbought technical conditions. The U.S. corn harvest is starting and early yield results...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.66/bushel, down $0.035 from yesterday's close.  Dec 20 Wheat closed at $5.3825/bushel, down $0.075 from yesterday's close.  Nov 20 Soybeans closed at $9.915/bushel, down $0.08 from yesterday's close.  Dec 20 Soymeal closed at $319.2/short ton, down $2.8 f...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies Again; WPI 2020 S&D; Beef Turning Bullish

The CBOT was mostly higher to start the week with soybeans and soyoil extending their rallies. Corn and wheat were firmer but posted a relatively lackluster day of trading. Soyoil reversed course and fell lower under pressure from long profit taking and bull soyoil/soymeal spreads. Cattle futur...

livestock

Pork Progress

China claims that its pig herd is now down 20 percent from before ASF decimated its stock, but USDA places the country's pork production down 33 percent. Pork meat imports over that same period are up 193 percent. China is subsidizing pig farmers both large and small, but it doesn’t help...

feed-grains soy-oilseeds wheat

Market Commentary: WASDE Neutral, Soybeans Rally Anyway; Hogs Explode Higher

The September WASDE failed to offer truly bullish surprises, but you wouldn’t know that from the CBOT’s reaction. The soy complex ended sharply higher for the day and November soybeans briefly challenged the $10.00 mark. Corn finished the day basically steady as pre-report gains wer...

biofuel livestock

SREs; WASDE Livestock; COVID Politics

Reports leaked out of the Administration this week that President Trump has directed EPA to deny all of the so-called gap year small refinery exemption petitions. As we reported previously, the Department of Energy (DOE) has made recommendations on the 58 gap year petitions that were received e...

livestock wheat soy-oilseeds

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...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.685/bushel, up $0.035 from yesterday's close.  Dec 20 Wheat closed at $5.42/bushel, down $0.0625 from yesterday's close.  Nov 20 Soybeans closed at $9.96/bushel, up $0.185 from yesterday's close.  Dec 20 Soymeal closed at $324.6/short ton, up $7.1 from ye...

livestock

Livestock Round Up: Already Low Hog Prices Moving into Seasonal Low-Price Period

The July monthly export data show both beef and pork down from year-ago levels but up from June. Compared to June, beef exports were up 36 percent in volume and 9 percent below July 2019. Pork exports were up 7 percent over June but 5 percent below year-ago levels. July was the lowest month sin...

feed-grains soy-oilseeds wheat

Market Commentary: Big Bets on Tomorrow

The market is frothy. Tomorrow’s USDA WASDE report could affirm today’s relatively bullish sentiment, or it could break it on fundamentals. The question is whether USDA’s corrections in yield, production and stocks go as far as current guesses. In all likelihood, there will be...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.65/bushel, up $0.0475 from yesterday's close.  Dec 20 Wheat closed at $5.4825/bushel, up $0.045 from yesterday's close.  Nov 20 Soybeans closed at $9.775/bushel, down $0.0125 from yesterday's close.  Dec 20 Soymeal closed at $317.5/short ton, down $0.6 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Hogs and Soybeans Rally, Grains Consolidate

The CBOT traded a relatively quiet day with corn consolidating and wheat attempting to turn lower before support entered on a break below key moving averages. Soybeans rallied once again on news of fresh export sales to China and soymeal followed suite. Funds were net buyers in soybean and soym...

feed-grains soy-oilseeds wheat

China In-Country Analysis

Macroeconomic Trends Food Inflation Falls in August, Remains Above 10 Percent Following a 2.2 percent increase in July, food prices fell in August to an annualized growth rate of 11.2 percent. That marked the 13th consecutive month that the cost of food in China has risen year-on-year by 10 per...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.6025/bushel, down $0.015 from yesterday's close.  Dec 20 Wheat closed at $5.4375/bushel, down $0.005 from yesterday's close.  Nov 20 Soybeans closed at $9.7875/bushel, up $0.0575 from yesterday's close.  Dec 20 Soymeal closed at $318.1/short ton, up $3.5...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Mostly Higher; WPI 2020 Corn, Soybean Forecasts

The CBOT opened on a mixed note with early selling pressure developing in the soy complex. By the afternoon, however, continued demand corn and soybeans pushed those markets higher while wheat futures were lower. Wheat was pressured by higher Australian production estimates as well as bear spre...

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