Recent Soy & Oilseeds Analysis
Market Commentary
Spread trade was the biggest feature of the day with traders rolling out of December contracts and into deferred contracts. December options expired this afternoon and there was a solid round of positioning/rolling contracts around that fact. Wheat futures were higher with no deliveries yet reg...
Summary of Futures
Dec 19 Corn closed at $3.6875/bushel, up $0.0025 from yesterday's close. Mar 20 Wheat closed at $5.1875/bushel, up $0.0675 from yesterday's close. Jan 20 Soybeans closed at $8.97/bushel, down $0.04 from yesterday's close. Dec 19 Soymeal closed at $299/short ton, down $2 from y...
Policy Round Up
India Trade The Ministry of Commerce and Industry is reporting that progress is being made in trade negotiations with the U.S. and details could be forthcoming within a couple of weeks. In fact, India is stepping up their trade agenda across the board. India moved this week on a tra...
PM Post - Expirations and Rolls
THE OPEN Jan beans: 1/4 lower Jan meal: .40 lower Jan soyoil: 25 higher March corn: 1 lower March wheat: 2 higher The markets opened as called with grains firmer against beans and meal. Wheat prices are firmer as they were well bid before the open and are con...
Technical Views - Lows Begetting New Lows
SPREADS Crush margins continue to firm with March trading to 1.02c/bu. Oilshare trades back up to 34.0%. Jan/March beans trade to ctr lows at 14 1/4c. Dec/March corn trades from 10 1/4c to 10 1/2c, while Dec 19/Dec 20 trades from 25 1/2c to 26c. Dec wheat/corn trad...
AM Outlook - Caution About Oilshare
GOOD MORNING, Funds continue to make adjustments into the end of the month and into the Thanksgiving holiday. Volumes are going to probably dwindle from here. Jan beans break $9.00, ignoring more of the bullish fundamentals such as a good round of export sales and crush demand. ...
Market Commentary
Solid export sales, especially for pork, and higher basis in South America is bullish for U.S. futures. So should be the fact that 17 percent of the corn crop is still in the fields and getting very damp but the rains in South America make the whole situation neutral at best. Instead, the marke...
Summary of Futures
Dec 19 Corn closed at $3.685/bushel, up $0.0175 from yesterday's close. Dec 19 Wheat closed at $5.09/bushel, down $0.065 from yesterday's close. Jan 20 Soybeans closed at $9.01/bushel, down $0.04 from yesterday's close. Dec 19 Soymeal closed at $301/short ton, up $1.2 from yes...
PM Post - Position-evening for Profit
THE OPEN Jan beans: up 3 3/4 Dec meal: up 1.50 Dec soyoil: down 18 Dec corn: up 1 1/4 Dec wheat; up 3 1/2 Prices opened as called with many traders unwinding previous spread trade. More position - evening was noted after the bell, as traders unwound previous buy be...
Oilseed Highlights: Egypt's Soybean Production, DDGS Exports to Australia and New Zealand
Egypt Wants to Double Soybean Production The government of Egypt has announced its plan to more than double its production of soybeans to reduce its dependence on vegoil imports. The government says the country produced 59,000 MT of soybeans in 2018/19 from 14,800 hectares. Its goal is to plant...
Technical Views - Its about Spreads
SPREADS Major trends include higher oilshare and crush, and heavy volumes in Dec spreads. Yesterday, the Dec/March corn spread accounted for about 70% of the total volume and trades into 10c after trading out to 11 1/2c yesterday. First notice day for Dec contracts is one week from...
Export Sales
Wheat: Net sales of 437,700 metric tons for 2019/2020 were up 83 percent from the previous week and 29 percent from the prior 4-week average. Corn: Net sales of 788,000 metric tons for 2019/2020 were up 36 percent from the previous week and 49 percent from the prior 4-week ave...
Market Commentary
Spread trade was the biggest feature of the day with traders rolling out of December contracts and into deferred contracts. December options expired this afternoon and there was a solid round of positioning/rolling contracts around that fact. Wheat futures were higher with no deliveries yet reg...
Summary of Futures
Dec 19 Corn closed at $3.6875/bushel, up $0.0025 from yesterday's close. Mar 20 Wheat closed at $5.1875/bushel, up $0.0675 from yesterday's close. Jan 20 Soybeans closed at $8.97/bushel, down $0.04 from yesterday's close. Dec 19 Soymeal closed at $299/short ton, down $2 from y...
Policy Round Up
India Trade The Ministry of Commerce and Industry is reporting that progress is being made in trade negotiations with the U.S. and details could be forthcoming within a couple of weeks. In fact, India is stepping up their trade agenda across the board. India moved this week on a tra...
PM Post - Expirations and Rolls
THE OPEN Jan beans: 1/4 lower Jan meal: .40 lower Jan soyoil: 25 higher March corn: 1 lower March wheat: 2 higher The markets opened as called with grains firmer against beans and meal. Wheat prices are firmer as they were well bid before the open and are con...
Technical Views - Lows Begetting New Lows
SPREADS Crush margins continue to firm with March trading to 1.02c/bu. Oilshare trades back up to 34.0%. Jan/March beans trade to ctr lows at 14 1/4c. Dec/March corn trades from 10 1/4c to 10 1/2c, while Dec 19/Dec 20 trades from 25 1/2c to 26c. Dec wheat/corn trad...
AM Outlook - Caution About Oilshare
GOOD MORNING, Funds continue to make adjustments into the end of the month and into the Thanksgiving holiday. Volumes are going to probably dwindle from here. Jan beans break $9.00, ignoring more of the bullish fundamentals such as a good round of export sales and crush demand. ...
Market Commentary
Solid export sales, especially for pork, and higher basis in South America is bullish for U.S. futures. So should be the fact that 17 percent of the corn crop is still in the fields and getting very damp but the rains in South America make the whole situation neutral at best. Instead, the marke...
Summary of Futures
Dec 19 Corn closed at $3.685/bushel, up $0.0175 from yesterday's close. Dec 19 Wheat closed at $5.09/bushel, down $0.065 from yesterday's close. Jan 20 Soybeans closed at $9.01/bushel, down $0.04 from yesterday's close. Dec 19 Soymeal closed at $301/short ton, up $1.2 from yes...
PM Post - Position-evening for Profit
THE OPEN Jan beans: up 3 3/4 Dec meal: up 1.50 Dec soyoil: down 18 Dec corn: up 1 1/4 Dec wheat; up 3 1/2 Prices opened as called with many traders unwinding previous spread trade. More position - evening was noted after the bell, as traders unwound previous buy be...
Oilseed Highlights: Egypt's Soybean Production, DDGS Exports to Australia and New Zealand
Egypt Wants to Double Soybean Production The government of Egypt has announced its plan to more than double its production of soybeans to reduce its dependence on vegoil imports. The government says the country produced 59,000 MT of soybeans in 2018/19 from 14,800 hectares. Its goal is to plant...
Technical Views - Its about Spreads
SPREADS Major trends include higher oilshare and crush, and heavy volumes in Dec spreads. Yesterday, the Dec/March corn spread accounted for about 70% of the total volume and trades into 10c after trading out to 11 1/2c yesterday. First notice day for Dec contracts is one week from...
Export Sales
Wheat: Net sales of 437,700 metric tons for 2019/2020 were up 83 percent from the previous week and 29 percent from the prior 4-week average. Corn: Net sales of 788,000 metric tons for 2019/2020 were up 36 percent from the previous week and 49 percent from the prior 4-week ave...