Recent Soy & Oilseeds Analysis
A Break from the Weather: Technical Analysis of the Markets
Unless you’ve been living under a rock (or possibly in Arizona where you might not have noticed), you know that the spring weather across the Midwest has been terrible - too cold, too wet, too snowy. Adding add insult to injury, it all started after the New England Patriots won the most b...
Summary of Futures
Jul 19 Corn closed at $3.9425/bushel, up $0.0525 from yesterday's close. Jul 19 Wheat closed at $4.7875/bushel, up $0.005 from yesterday's close. Jul 19 Soybeans closed at $8.22/bushel, down $0.0975 from yesterday's close. Jul 19 Soymeal closed at $295.3/short ton, down $2 fro...
Market Commentary
Active overnight trade pushed the CBOT higher with corn up 6.75 cents, soybeans up 7.75 cents and Chicago wheat up 8.5 cents before the morning session’s open. The catalyst for this was, of course, USDA’s confirmation yesterday afternoon that the current corn crop is the most delaye...
Oilseed Highlights: China’s Soybean Purchases; Southeast Asia’s Concerns; South American Soy Updates
China Deciding What to Do with Unshipped U.S. Soybean Purchases Now that trade negotiations with the U.S. have broken down, the Chinese government is apparently now deciding what to do with the more than 7 MMT of unshipped soybeans it has purchased from the U.S. Unconfirmed reports indicate Chi...
Market Commentary
The U.S. Corn Belt and much of the northern Plains had a very wet and cold weekend, and there is more rain on the way (see five-day precipitation forecast map below). We stated last Friday that markets would be going higher if the wet forecasts were confirmed, and that is what they did today...
More Things to Keep You Up at Night
The U.S. 2019 planting season is grim, and there is little or no relief in sight based on the latest weather forecasts. The Corn Belt and northern Plains will stay wet and cool for the foreseeable future. Most of the market chatter has been about the potential reduction in U.S. corn planted acr...
Mercosur Regional Analysis
Soybeans Market Overview The U.S. trade war has been leading the soybean market for several months, but the latest developments (for the worse) have certainly enhanced the market’s focus on it. The Chinese decided to move on Brazilian soybeans last week and secured some Argentine origin a...
Summary of Futures
Jul 19 Corn closed at $3.89/bushel, up $0.0575 from yesterday's close. Jul 19 Wheat closed at $4.7825/bushel, up $0.1325 from yesterday's close. Jul 19 Soybeans closed at $8.3175/bushel, up $0.1 from yesterday's close. Jul 19 Soymeal closed at $297.3/short ton, up $3 from yest...
Southeast Europe Regional Analysis
Milling Wheat The Black Sea market was firmer last week in sympathy with the CBOT and Matif futures. Russia has exported about 33.8 MMT thus far in the current campaign against an expected total of 34.5-35 MMT. The weather in that country and Ukraine may not be perfect everywhere for wheat deve...
Market Commentary
Corn and wheat futures maintained their winning ways today on more wet weather across the Corn Belt. 1-2 inches of rainfall were common across Iowa today, and there is a great deal of heavy rain in the five-day forecast. NOAA released its updated long-lead forecasts, which show June and July wi...
Summary of Futures
Jul 19 Corn closed at $3.8325/bushel, up $0.0425 from yesterday's close. Jul 19 Wheat closed at $4.65/bushel, down $0.02 from yesterday's close. Jul 19 Soybeans closed at $8.2175/bushel, down $0.18 from yesterday's close. Jul 19 Soymeal closed at $294.3/short ton, down $7.6 fr...
Fish or Cut Bait
The extremely slow pace of corn planting in the U.S. was previously discussed in the 13 May analysis (click here). The eastern Corn Belt is especially affected, and the soybean planting pace is equally slow. The markets hadn’t responded to this problem up until last Monday’s crop pr...
A Break from the Weather: Technical Analysis of the Markets
Unless you’ve been living under a rock (or possibly in Arizona where you might not have noticed), you know that the spring weather across the Midwest has been terrible - too cold, too wet, too snowy. Adding add insult to injury, it all started after the New England Patriots won the most b...
Summary of Futures
Jul 19 Corn closed at $3.9425/bushel, up $0.0525 from yesterday's close. Jul 19 Wheat closed at $4.7875/bushel, up $0.005 from yesterday's close. Jul 19 Soybeans closed at $8.22/bushel, down $0.0975 from yesterday's close. Jul 19 Soymeal closed at $295.3/short ton, down $2 fro...
Market Commentary
Active overnight trade pushed the CBOT higher with corn up 6.75 cents, soybeans up 7.75 cents and Chicago wheat up 8.5 cents before the morning session’s open. The catalyst for this was, of course, USDA’s confirmation yesterday afternoon that the current corn crop is the most delaye...
Oilseed Highlights: China’s Soybean Purchases; Southeast Asia’s Concerns; South American Soy Updates
China Deciding What to Do with Unshipped U.S. Soybean Purchases Now that trade negotiations with the U.S. have broken down, the Chinese government is apparently now deciding what to do with the more than 7 MMT of unshipped soybeans it has purchased from the U.S. Unconfirmed reports indicate Chi...
Market Commentary
The U.S. Corn Belt and much of the northern Plains had a very wet and cold weekend, and there is more rain on the way (see five-day precipitation forecast map below). We stated last Friday that markets would be going higher if the wet forecasts were confirmed, and that is what they did today...
More Things to Keep You Up at Night
The U.S. 2019 planting season is grim, and there is little or no relief in sight based on the latest weather forecasts. The Corn Belt and northern Plains will stay wet and cool for the foreseeable future. Most of the market chatter has been about the potential reduction in U.S. corn planted acr...
Mercosur Regional Analysis
Soybeans Market Overview The U.S. trade war has been leading the soybean market for several months, but the latest developments (for the worse) have certainly enhanced the market’s focus on it. The Chinese decided to move on Brazilian soybeans last week and secured some Argentine origin a...
Summary of Futures
Jul 19 Corn closed at $3.89/bushel, up $0.0575 from yesterday's close. Jul 19 Wheat closed at $4.7825/bushel, up $0.1325 from yesterday's close. Jul 19 Soybeans closed at $8.3175/bushel, up $0.1 from yesterday's close. Jul 19 Soymeal closed at $297.3/short ton, up $3 from yest...
Southeast Europe Regional Analysis
Milling Wheat The Black Sea market was firmer last week in sympathy with the CBOT and Matif futures. Russia has exported about 33.8 MMT thus far in the current campaign against an expected total of 34.5-35 MMT. The weather in that country and Ukraine may not be perfect everywhere for wheat deve...
Market Commentary
Corn and wheat futures maintained their winning ways today on more wet weather across the Corn Belt. 1-2 inches of rainfall were common across Iowa today, and there is a great deal of heavy rain in the five-day forecast. NOAA released its updated long-lead forecasts, which show June and July wi...
Summary of Futures
Jul 19 Corn closed at $3.8325/bushel, up $0.0425 from yesterday's close. Jul 19 Wheat closed at $4.65/bushel, down $0.02 from yesterday's close. Jul 19 Soybeans closed at $8.2175/bushel, down $0.18 from yesterday's close. Jul 19 Soymeal closed at $294.3/short ton, down $7.6 fr...
Fish or Cut Bait
The extremely slow pace of corn planting in the U.S. was previously discussed in the 13 May analysis (click here). The eastern Corn Belt is especially affected, and the soybean planting pace is equally slow. The markets hadn’t responded to this problem up until last Monday’s crop pr...