Market Commentary: Corn, Soy Complex Pause Rallies while Technical Buying Lifts Wheat
When markets opened on Monday there were just nine trading sessions before the quarterly Grain Stocks and Acreage Intentions reports from USDA, which meant that traders were focused on adjusting positions and forecasts ahead of those numbers. Beyond that, the weather is the market’s prima...
Brazil’s Meat Opportunity
Brazil has famously surpassed the U.S. as the world’s largest producer and exporter of soybeans, and it could become a more consistent top exporter of corn. However, its livestock production lags. Brazil’s soybean production has been expanding at an average 5.5 percent per year, and...
Mercosur Regional Analysis
Corn Intense rains have fallen over practically all of Argentina’s agricultural region in the last few days, delaying the corn harvest. The reported weekly progress was only 1 percent, and the total harvested area stands at only 3.2 percent. Several days of good weather will be nece...
Market Commentary: Technical Trade Dominates on Quiet Fundamentals
The CBOT was mixed to end the week with scant, fresh fundamental news leading to more technically-oriented trade over the past few weeks. Wheat futures were the downside leader as deteriorating chart conditions and China’s recent cancellations of U.S. SRW export bookings weighed on trader...
FOB Prices and Freight Rate App (Updated 15 March)
Ocean Freight Comments - 15 March 2024 By Matt Herrington Freight markets were mostly higher this week with higher cargo demand from the East Coast of South America pushing Panamax and Supramax rates higher. Freight forward agreements (FFAs) for Panamax vessels are also rising with the average...
Interactive Ocean Freight Rates (Updated 15 March)
Ocean Freight Comments - 15 March 2024 By Matt Herrington Freight markets were mostly higher this week with higher cargo demand from the East Coast of South America pushing Panamax and Supramax rates higher. Freight forward agreements (FFAs) for Panamax vessels are also rising with the average...
Mercosur Regional Analysis
Corn Argentina’s early corn harvest has begun in various regions of the country with good yields, although it's too early to draw conclusions as the harvested area has only reached 2 percent of the total area. While one should expect the harvest to pick up speed in the coming days, the fo...
WASDE Soybeans
Soybeans: USDA’s March estimate is that U.S. soybean supply and use for 2023/24 is unchanged from February. The U.S. season-average soybean price and the soybean meal price forecasts are unchanged for 2023/24. The soybean oil price is reduced 2 cents to 49 cents per pound. Glo...
WASDE Corn
Corn: USDA’s March estimate is that 2023/24 U.S. corn outlook is unchanged from February. The season-average corn price received by producers is lowered to $4.75 per bushel based on observed prices to date. Global corn ending stocks are down 2.4 million to 319.6 million tons...
WASDE Wheat
Wheat: USDA’s March estimate is that U.S. ending stocks are increased 673 million bushels and are 18 percent higher than last year. The season-average U.S. farm price is reduced $0.05 per bushel to $7.15. The global wheat ending stocks are lowered 0.6 million tons to 258.8 million,...
Market Commentary: Interesting Trade Despite Few WASDE Changes
The CBOT posted interesting developments on Friday, even while the March WASDE report failed to offer the same intrigue. The USDA’s latest look at U.S. and world supply and demand fundamentals was largely a “steady as she goes” affair with few significant changes. Despite the...
Market Commentary: Markets Move Ahead of March WASDE
With the exception of SRW, markets generally closed above overnight levels as short-covering progressed ahead of tomorrow’s USDA March WASDE. There was solid volume pushing corn, soybeans, and soyoil higher, but there was also high volume selling SRW. Tomorrow will see the release...
Market Commentary: Corn, Soy Complex Pause Rallies while Technical Buying Lifts Wheat
When markets opened on Monday there were just nine trading sessions before the quarterly Grain Stocks and Acreage Intentions reports from USDA, which meant that traders were focused on adjusting positions and forecasts ahead of those numbers. Beyond that, the weather is the market’s prima...
Brazil’s Meat Opportunity
Brazil has famously surpassed the U.S. as the world’s largest producer and exporter of soybeans, and it could become a more consistent top exporter of corn. However, its livestock production lags. Brazil’s soybean production has been expanding at an average 5.5 percent per year, and...
Mercosur Regional Analysis
Corn Intense rains have fallen over practically all of Argentina’s agricultural region in the last few days, delaying the corn harvest. The reported weekly progress was only 1 percent, and the total harvested area stands at only 3.2 percent. Several days of good weather will be nece...
Market Commentary: Technical Trade Dominates on Quiet Fundamentals
The CBOT was mixed to end the week with scant, fresh fundamental news leading to more technically-oriented trade over the past few weeks. Wheat futures were the downside leader as deteriorating chart conditions and China’s recent cancellations of U.S. SRW export bookings weighed on trader...
FOB Prices and Freight Rate App (Updated 15 March)
Ocean Freight Comments - 15 March 2024 By Matt Herrington Freight markets were mostly higher this week with higher cargo demand from the East Coast of South America pushing Panamax and Supramax rates higher. Freight forward agreements (FFAs) for Panamax vessels are also rising with the average...
Interactive Ocean Freight Rates (Updated 15 March)
Ocean Freight Comments - 15 March 2024 By Matt Herrington Freight markets were mostly higher this week with higher cargo demand from the East Coast of South America pushing Panamax and Supramax rates higher. Freight forward agreements (FFAs) for Panamax vessels are also rising with the average...
Mercosur Regional Analysis
Corn Argentina’s early corn harvest has begun in various regions of the country with good yields, although it's too early to draw conclusions as the harvested area has only reached 2 percent of the total area. While one should expect the harvest to pick up speed in the coming days, the fo...
WASDE Soybeans
Soybeans: USDA’s March estimate is that U.S. soybean supply and use for 2023/24 is unchanged from February. The U.S. season-average soybean price and the soybean meal price forecasts are unchanged for 2023/24. The soybean oil price is reduced 2 cents to 49 cents per pound. Glo...
WASDE Corn
Corn: USDA’s March estimate is that 2023/24 U.S. corn outlook is unchanged from February. The season-average corn price received by producers is lowered to $4.75 per bushel based on observed prices to date. Global corn ending stocks are down 2.4 million to 319.6 million tons...
WASDE Wheat
Wheat: USDA’s March estimate is that U.S. ending stocks are increased 673 million bushels and are 18 percent higher than last year. The season-average U.S. farm price is reduced $0.05 per bushel to $7.15. The global wheat ending stocks are lowered 0.6 million tons to 258.8 million,...
Market Commentary: Interesting Trade Despite Few WASDE Changes
The CBOT posted interesting developments on Friday, even while the March WASDE report failed to offer the same intrigue. The USDA’s latest look at U.S. and world supply and demand fundamentals was largely a “steady as she goes” affair with few significant changes. Despite the...
Market Commentary: Markets Move Ahead of March WASDE
With the exception of SRW, markets generally closed above overnight levels as short-covering progressed ahead of tomorrow’s USDA March WASDE. There was solid volume pushing corn, soybeans, and soyoil higher, but there was also high volume selling SRW. Tomorrow will see the release...