Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
FOB Prices and Freight Rate App (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Interactive Ocean Freight Rates (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Market Commentary: Soymeal, KCBT Wheat Lead Tuesday Rallies; Acreage and Stocks Reports Loom
The CBOT was mostly higher on Tuesday with traders increasingly preparing and positioning for the coming acreage and Grain Stocks reports. The soy complex was the upside leader for the day with turnaround in soymeal and soybeans gaining steam and attracting more technical buying interest. There...
Mercosur Regional Analysis
Corn Rain fell over the past few days and helped stop the deterioration of the corn crop, but this does not mean the estimate of between 35 and 36 MMT won't fall further. The harvest is complete across approximately 5 percent of the area with an average yield of 3.45 MT/ha. Everyone was expecti...
Market Commentary: Wheat Rallies on Export Ban Rumors; Corn Rises on China Buying, Brazil Weather
The CBOT was sharply higher for the day with wheat leading the day’s rallies. Wheat futures jumped higher on news that Russia might ban wheat and sunflower oil exports to support local prices. In addition to possibly banning wheat and sunflower oil exports, Russian officials indicated the...
Market Commentary: Liquidation Week
Funds continued to abandon commodities today. Corn, soymeal, and SRW wheat followed the overnight session with a higher open but then collapsed. Non-commercials speculate with their money and analysts speculate about what such funds are thinking. Given the timing, there was guessing that it is...
Livestock Roundup: U.S. Pork, Brazilian Beef Exports Resume to China
With Easter retail orders mostly complete, the pork cutout, especially hams, is under pressure. From the beginning of March, the ham primal has dropped 16 percent; the only other cut with a bigger drop is the belly. Through last week, hog slaughter was up 1.6 percent over the same 10 wee...
Market Commentary: Corn Survives Otherwise Bearish Day; Soy Complex Falls on Weaker Chinese Markets
The CBOT was mostly on the defensive at mid-week with funds and bears remaining in control of futures markets. Wheat was the downside leader with a wave of selling hitting all three markets after the morning opening. That pressure helped push corn lower initially, though old crop futures manage...
Market Commentary: Wheat, Soyoil Lead CBOT Lower; Cattle Rally from Technical Support
The CBOT was red nearly across the board on Tuesday as favorable weather for the U.S. and Europe as well as the renewed Black Sea export corridor agreement put funds in a selling mood. Grain futures tried to rally in early trade but were quickly pushed back by strong managed money and even some...
Mercosur Regional Analysis
Wheat Wheat is still super boring in Argentina as the market dynamics repeat themselves day after day. There is no farmer selling, millers are buying slowly to cover their spot needs, and only from time to time will exporters come out to sell part of their wheat. Consequently, prices in the loc...
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
FOB Prices and Freight Rate App (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Interactive Ocean Freight Rates (Updated 30 Mar.)
Ocean Freight Comments - 30 March 2023 By Jay O'Neil Commodity Consulting Dry-bulk ocean freight markets were fairly quiet and dull this week and moved mostly sideways. Vessel owners continue to look for improved cargo demand, and finding none, must settle for holding rates steady and not losin...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Market Commentary: Soymeal, KCBT Wheat Lead Tuesday Rallies; Acreage and Stocks Reports Loom
The CBOT was mostly higher on Tuesday with traders increasingly preparing and positioning for the coming acreage and Grain Stocks reports. The soy complex was the upside leader for the day with turnaround in soymeal and soybeans gaining steam and attracting more technical buying interest. There...
Mercosur Regional Analysis
Corn Rain fell over the past few days and helped stop the deterioration of the corn crop, but this does not mean the estimate of between 35 and 36 MMT won't fall further. The harvest is complete across approximately 5 percent of the area with an average yield of 3.45 MT/ha. Everyone was expecti...
Market Commentary: Wheat Rallies on Export Ban Rumors; Corn Rises on China Buying, Brazil Weather
The CBOT was sharply higher for the day with wheat leading the day’s rallies. Wheat futures jumped higher on news that Russia might ban wheat and sunflower oil exports to support local prices. In addition to possibly banning wheat and sunflower oil exports, Russian officials indicated the...
Market Commentary: Liquidation Week
Funds continued to abandon commodities today. Corn, soymeal, and SRW wheat followed the overnight session with a higher open but then collapsed. Non-commercials speculate with their money and analysts speculate about what such funds are thinking. Given the timing, there was guessing that it is...
Livestock Roundup: U.S. Pork, Brazilian Beef Exports Resume to China
With Easter retail orders mostly complete, the pork cutout, especially hams, is under pressure. From the beginning of March, the ham primal has dropped 16 percent; the only other cut with a bigger drop is the belly. Through last week, hog slaughter was up 1.6 percent over the same 10 wee...
Market Commentary: Corn Survives Otherwise Bearish Day; Soy Complex Falls on Weaker Chinese Markets
The CBOT was mostly on the defensive at mid-week with funds and bears remaining in control of futures markets. Wheat was the downside leader with a wave of selling hitting all three markets after the morning opening. That pressure helped push corn lower initially, though old crop futures manage...
Market Commentary: Wheat, Soyoil Lead CBOT Lower; Cattle Rally from Technical Support
The CBOT was red nearly across the board on Tuesday as favorable weather for the U.S. and Europe as well as the renewed Black Sea export corridor agreement put funds in a selling mood. Grain futures tried to rally in early trade but were quickly pushed back by strong managed money and even some...
Mercosur Regional Analysis
Wheat Wheat is still super boring in Argentina as the market dynamics repeat themselves day after day. There is no farmer selling, millers are buying slowly to cover their spot needs, and only from time to time will exporters come out to sell part of their wheat. Consequently, prices in the loc...