PM Post: Trading Tomorrow's Expectations
THE OPEN May beans: 4 1/4 lower March meal: .20 lower March soyoil: 49 lower May corn: 1 1/2 lower May wheat: 5 lower The markets opened lower as called with March soyoil and oilshare trading lower. China continues to add stimulus to keep its economy going which is translating to better...
Technical Views - The Details
SPREADS May crush trades to 91.22c/bu, while oilshare is weaker, trading back below 34.0% to 33.87%. Corn spreads weaken with July/Dec trading out to 3c from 2 1/4c. March/May corn trades from 4 1/4c to 4 1/2c. July/Nov beans widen back out to 9 1/4c from 7c. March/May w...
AM Outlook - Mostly Sideways
GOOD MORNING, Futures are lower this morning led by soyoil, followed by wheat. Soyoil is lower following a sharp break in palm, as traders are concerned that the virus may lead to lower demand from China and India. Chicago corn and bean prices piggy-back off weaker Chinese and...
Market Commentary
Overnight news that Australia’s 2019/20 wheat crop will be smaller than expected set the stage for a sharp rally in the CBOT wheat markets. Morning calls were for wheat to open higher and pull corn along with it, which is exactly what happened. Few, if any, analysts, however, expected whe...
Summary of Futures
Mar 20 Corn closed at $3.83/bushel, up $0.0525 from yesterday's close. Mar 20 Wheat closed at $5.6675/bushel, up $0.24 from yesterday's close. Mar 20 Soybeans closed at $8.9225/bushel, down $0.015 from yesterday's close. Mar 20 Soymeal closed at $292.2/short ton, up $1.1 from...
China's Tariff Reductions
China announced this morning a list of 696 U.S. products for which importers may apply for a tariff exemption. Importers must apply for the exemption by 2 March, with a particular volume of imports specified in the application. Import volumes above the applied for amount will be subject to the...
Partial Analysis; WTO Repeated Error; China’s Virus Problem
Partial Analysis The EU undergoes a WTO trade policy review this week in Geneva and Maria Cipollina and Luca Salvatici write in the European Review of Agricultural Economics that the trading block’s tariffs have greatly redirected agricultural imports. The pair correctly note that agricul...
PM Post: Notables
THE OPEN March beans: 2 lower March meal: .40 lower March soyoil: 2 higher March corn: 3 higher March wheat: 13 higher Prices opened as expected with the soy complex still lower against a higher grain market. Wheat continued to remain well supported by the...
FOB Prices and Freight Rate App (Updated 18 February)
Update for 18 February 2020: New Data Added!! WPI has expanded the data offerings in this app to include DDGS, Sorghum, Soymeal, Corn Gluten Meal, Corn Gluent Feed Pellets, and additional FOB price indications for corn and soybeans. All other routes/offers updated through the day's close. ...
Interactive Ocean Freight Rates (Updated 18 February)
Data Updated Through: 18 February 2020 New Features: Added 6 month, 1 year, 2 year, YTD, and "All" data selectors for easier navigation within charts. Also added data going back 6 months for the baltic dry-bulk panamax indexes: P2A: Gulf/Atlantic-Japan P2A: PNW/Pacific-Japan...
Technical Views: Wheat Higher, Corn Sideways, Soy Weaker
SPREADS Spread trade consumed most of the volume in the last session. March corn was down 36,104 contracts with May up 23,638 contracts. March open interest declines to 373,184 contracts with May at 489,438 contracts. March bean open interest declines by 21,013 contracts with May open int...
AM Outlook: Wheat Leading Grains Higher
GOOD MORNING, The board is mixed this morning with wheat leading grains higher and weaker soy values. Heading into this week, all eyes will be the January NOPA crush report, and the USDA’s Outlook Forum numbers on the 20th. Over the weekend China reported 1,886 new cases of coronavirus, w...
PM Post: Trading Tomorrow's Expectations
THE OPEN May beans: 4 1/4 lower March meal: .20 lower March soyoil: 49 lower May corn: 1 1/2 lower May wheat: 5 lower The markets opened lower as called with March soyoil and oilshare trading lower. China continues to add stimulus to keep its economy going which is translating to better...
Technical Views - The Details
SPREADS May crush trades to 91.22c/bu, while oilshare is weaker, trading back below 34.0% to 33.87%. Corn spreads weaken with July/Dec trading out to 3c from 2 1/4c. March/May corn trades from 4 1/4c to 4 1/2c. July/Nov beans widen back out to 9 1/4c from 7c. March/May w...
AM Outlook - Mostly Sideways
GOOD MORNING, Futures are lower this morning led by soyoil, followed by wheat. Soyoil is lower following a sharp break in palm, as traders are concerned that the virus may lead to lower demand from China and India. Chicago corn and bean prices piggy-back off weaker Chinese and...
Market Commentary
Overnight news that Australia’s 2019/20 wheat crop will be smaller than expected set the stage for a sharp rally in the CBOT wheat markets. Morning calls were for wheat to open higher and pull corn along with it, which is exactly what happened. Few, if any, analysts, however, expected whe...
Summary of Futures
Mar 20 Corn closed at $3.83/bushel, up $0.0525 from yesterday's close. Mar 20 Wheat closed at $5.6675/bushel, up $0.24 from yesterday's close. Mar 20 Soybeans closed at $8.9225/bushel, down $0.015 from yesterday's close. Mar 20 Soymeal closed at $292.2/short ton, up $1.1 from...
China's Tariff Reductions
China announced this morning a list of 696 U.S. products for which importers may apply for a tariff exemption. Importers must apply for the exemption by 2 March, with a particular volume of imports specified in the application. Import volumes above the applied for amount will be subject to the...
Partial Analysis; WTO Repeated Error; China’s Virus Problem
Partial Analysis The EU undergoes a WTO trade policy review this week in Geneva and Maria Cipollina and Luca Salvatici write in the European Review of Agricultural Economics that the trading block’s tariffs have greatly redirected agricultural imports. The pair correctly note that agricul...
PM Post: Notables
THE OPEN March beans: 2 lower March meal: .40 lower March soyoil: 2 higher March corn: 3 higher March wheat: 13 higher Prices opened as expected with the soy complex still lower against a higher grain market. Wheat continued to remain well supported by the...
FOB Prices and Freight Rate App (Updated 18 February)
Update for 18 February 2020: New Data Added!! WPI has expanded the data offerings in this app to include DDGS, Sorghum, Soymeal, Corn Gluten Meal, Corn Gluent Feed Pellets, and additional FOB price indications for corn and soybeans. All other routes/offers updated through the day's close. ...
Interactive Ocean Freight Rates (Updated 18 February)
Data Updated Through: 18 February 2020 New Features: Added 6 month, 1 year, 2 year, YTD, and "All" data selectors for easier navigation within charts. Also added data going back 6 months for the baltic dry-bulk panamax indexes: P2A: Gulf/Atlantic-Japan P2A: PNW/Pacific-Japan...
Technical Views: Wheat Higher, Corn Sideways, Soy Weaker
SPREADS Spread trade consumed most of the volume in the last session. March corn was down 36,104 contracts with May up 23,638 contracts. March open interest declines to 373,184 contracts with May at 489,438 contracts. March bean open interest declines by 21,013 contracts with May open int...
AM Outlook: Wheat Leading Grains Higher
GOOD MORNING, The board is mixed this morning with wheat leading grains higher and weaker soy values. Heading into this week, all eyes will be the January NOPA crush report, and the USDA’s Outlook Forum numbers on the 20th. Over the weekend China reported 1,886 new cases of coronavirus, w...