Recent Soy & Oilseeds Analysis
Market Commentary: CBOT Mixed as Shutdown End Begins
The CBOT was mixed with Monday’s strength in various markets fading quickly and giving way to a “turnaround Tuesday”. Corn and soyoil were the two holdouts from the turnaround pattern as both markets saw demand-side factors boost values to modest gains. Beyond that, traders we...
Summary of Futures
Dec 25 Corn closed at $4.32/bushel, up $0.0225 from yesterday's close. Dec 25 Wheat closed at $5.36/bushel, up $0.0025 from yesterday's close. Jan 26 Soybeans closed at $11.2725/bushel, down $0.0275 from yesterday's close. Dec 25 Soymeal closed at $316.9/short ton, down $3.1 f...
Market Commentary: Markets Rally as Shutdown Starts to End
CBOT markets rode a wave of enthusiasm Monday with the winds of a partial reopening of the U.S. government, China trade optimism, and USDA’s upcoming WASDE report driving the sentiment. The Senate broke the filibuster late Sunday night as several Democrats joined Republicans in passing th...
Summary of Futures
Dec 25 Corn closed at $4.2975/bushel, up $0.025 from yesterday's close. Dec 25 Wheat closed at $5.3575/bushel, up $0.08 from yesterday's close. Jan 26 Soybeans closed at $11.3/bushel, up $0.13 from yesterday's close. Dec 25 Soymeal closed at $320/short ton, up $2.9 from yester...
Mercosur Regional Analysis
Wheat Harvesting is gaining momentum, including in the higher-yielding areas of Córdoba. Yields are good and some are described as impressive - as high as 8 MT/ha. Optimism is high, and for some, the estimates of 22–23 MMT are starting to look conservative. However, there are still...
European Market Analysis
Regional News France is preparing to block a free trade agreement between the EU and Southern Common Market (Mercosur) trade block. French ag minister Annie Genevard said her country would not sign the deal that “condemns its farmers”. Poland confirmed it will continue its ban...
Daily Estimate of Managed Money Positioning in Ag Futures
Amid the ongoing U.S. government shutdown, WPI presents the following estimates of managed money traders’ positioning in key agricultural futures markets. WPI’s estimates are based on econometric and signal processing methods that use futures price, volume, and open interest informa...
Market Commentary: Pre-Weekend Bounce on a Mixed Week
Outside markets continued their downbeat on Friday but ag futures had a few recoveries from yesterday’s trouncing. Corn closed lower for the day and the week. The soy complex closed optimistically for the day but had a mixed week. Winter wheat closed lower on the day and the...
Summary of Futures
Dec 25 Corn closed at $4.2725/bushel, down $0.015 from yesterday's close. Dec 25 Wheat closed at $5.2775/bushel, down $0.0775 from yesterday's close. Jan 26 Soybeans closed at $11.17/bushel, up $0.095 from yesterday's close. Dec 25 Soymeal closed at $317.1/short ton, up $4.4 f...
WPI Crop Balance Sheet Forecasts
Ahead of next week’s USDA’s Crop Production and WASDE reports, WPI offers our latest projections for the corn, soybean, and wheat balance sheets. The key findings from this effort are that corn and soybean supplies are set to expand on upward yield revisions. Too, demand for corn an...
Summary of Futures
Dec 25 Corn closed at $4.2875/bushel, down $0.065 from yesterday's close. Dec 25 Wheat closed at $5.355/bushel, down $0.1925 from yesterday's close. Jan 26 Soybeans closed at $11.075/bushel, down $0.2675 from yesterday's close. Dec 25 Soymeal closed at $312.7/short ton, down $...
Market Commentary: Corrections Lower, and Maybe Yet Lower
There was a “show me the money” attitude in today’s trading as caution replaced yesterday’s enthusiasm in both ag markets and on Wall Street. Let’s count the many sources of hesitation. Soybeans, meal, and wheat have all been overbought with high RSI’s. ...
Market Commentary: CBOT Mixed as Shutdown End Begins
The CBOT was mixed with Monday’s strength in various markets fading quickly and giving way to a “turnaround Tuesday”. Corn and soyoil were the two holdouts from the turnaround pattern as both markets saw demand-side factors boost values to modest gains. Beyond that, traders we...
Summary of Futures
Dec 25 Corn closed at $4.32/bushel, up $0.0225 from yesterday's close. Dec 25 Wheat closed at $5.36/bushel, up $0.0025 from yesterday's close. Jan 26 Soybeans closed at $11.2725/bushel, down $0.0275 from yesterday's close. Dec 25 Soymeal closed at $316.9/short ton, down $3.1 f...
Market Commentary: Markets Rally as Shutdown Starts to End
CBOT markets rode a wave of enthusiasm Monday with the winds of a partial reopening of the U.S. government, China trade optimism, and USDA’s upcoming WASDE report driving the sentiment. The Senate broke the filibuster late Sunday night as several Democrats joined Republicans in passing th...
Summary of Futures
Dec 25 Corn closed at $4.2975/bushel, up $0.025 from yesterday's close. Dec 25 Wheat closed at $5.3575/bushel, up $0.08 from yesterday's close. Jan 26 Soybeans closed at $11.3/bushel, up $0.13 from yesterday's close. Dec 25 Soymeal closed at $320/short ton, up $2.9 from yester...
Mercosur Regional Analysis
Wheat Harvesting is gaining momentum, including in the higher-yielding areas of Córdoba. Yields are good and some are described as impressive - as high as 8 MT/ha. Optimism is high, and for some, the estimates of 22–23 MMT are starting to look conservative. However, there are still...
European Market Analysis
Regional News France is preparing to block a free trade agreement between the EU and Southern Common Market (Mercosur) trade block. French ag minister Annie Genevard said her country would not sign the deal that “condemns its farmers”. Poland confirmed it will continue its ban...
Daily Estimate of Managed Money Positioning in Ag Futures
Amid the ongoing U.S. government shutdown, WPI presents the following estimates of managed money traders’ positioning in key agricultural futures markets. WPI’s estimates are based on econometric and signal processing methods that use futures price, volume, and open interest informa...
Market Commentary: Pre-Weekend Bounce on a Mixed Week
Outside markets continued their downbeat on Friday but ag futures had a few recoveries from yesterday’s trouncing. Corn closed lower for the day and the week. The soy complex closed optimistically for the day but had a mixed week. Winter wheat closed lower on the day and the...
Summary of Futures
Dec 25 Corn closed at $4.2725/bushel, down $0.015 from yesterday's close. Dec 25 Wheat closed at $5.2775/bushel, down $0.0775 from yesterday's close. Jan 26 Soybeans closed at $11.17/bushel, up $0.095 from yesterday's close. Dec 25 Soymeal closed at $317.1/short ton, up $4.4 f...
WPI Crop Balance Sheet Forecasts
Ahead of next week’s USDA’s Crop Production and WASDE reports, WPI offers our latest projections for the corn, soybean, and wheat balance sheets. The key findings from this effort are that corn and soybean supplies are set to expand on upward yield revisions. Too, demand for corn an...
Summary of Futures
Dec 25 Corn closed at $4.2875/bushel, down $0.065 from yesterday's close. Dec 25 Wheat closed at $5.355/bushel, down $0.1925 from yesterday's close. Jan 26 Soybeans closed at $11.075/bushel, down $0.2675 from yesterday's close. Dec 25 Soymeal closed at $312.7/short ton, down $...
Market Commentary: Corrections Lower, and Maybe Yet Lower
There was a “show me the money” attitude in today’s trading as caution replaced yesterday’s enthusiasm in both ag markets and on Wall Street. Let’s count the many sources of hesitation. Soybeans, meal, and wheat have all been overbought with high RSI’s. ...