Recent Soy & Oilseeds Analysis
Summary of Futures
Dec 21 Corn closed at $5.43/bushel, down $0.1825 from yesterday's close. Sep 21 Wheat closed at $6.84/bushel, down $0.0825 from yesterday's close. Nov 21 Soybeans closed at $13.5175/bushel, down $0.105 from yesterday's close. Dec 21 Soymeal closed at $356.2/short ton, down $9...
Market Commentary: Grains Fall on Weather, Weak Technicals; Livestock Markets Digest New Data
The CBOT pulled back again on Friday with weak technical conditions in corn and soybeans contributing to early declines. U.S. weather forecasts are mostly hot and dry still, but recent European model runs show greater precipitation for the central U.S. That put a bearish bias in the CBOT today...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
PM Post - Bailing Out for the Weekend
THE OPEN November beans: 5 lower December meal: 3.80 lower December soyoil: 90 higher December corn: 1 1/4 lower December wheat: 3 3/4 higher The markets opened as expected with more profit-taking as funds remain long and the weaker technical picture, lower demand...
AM Outlook - Unwinding
GOOD MORNING, Prices are mixed this morning with higher oilshare and soyoil and firm wheat, vs. weaker beans, meal, and corn. Traders were busy unwinding previous oilshare values this week on the back of the Administration's delay to defining biofuel mandates, but that correction se...
Technical Views - Still Sideways
SPREADS We continue to see positive crush margins in the US, with August at 99c/bu and Sep. at 1.31c/bu. August oilshare trades to 47.70% and Sep. is at 47.25%. Sep/Dec meal trades from $3.40 carry out to $3.90. August/Nov bean inverse trades from a low of 49 1/4c up to 54 1/4...
Market Commentary: Weather Whiplash
While the gyrations in the equities market are based on things like earnings and risks from inflation or COVID, agricultural commodities are all about the weather. It is the known unknown and there will not be any clarity for a while yet. In a brief reflection of diversity (different commoditie...
Summary of Futures
Dec 21 Corn closed at $5.6125/bushel, down $0.0725 from yesterday's close. Sep 21 Wheat closed at $6.9225/bushel, down $0.185 from yesterday's close. Nov 21 Soybeans closed at $13.6225/bushel, down $0.275 from yesterday's close. Dec 21 Soymeal closed at $366/short ton, down $8...
Oilseed Highlights: U.S. Soy Sales; China Buys Argentine Soy; EU Soy Imports; Brazil Soy
U.S. Soy Export Sales Down Last Week The week ending 15 July was not a good one for export sales of U.S. soybeans, soymeal, and soyoil. Apparently, it will be quite a while before sales begin to substantially increase. Net export sales of U.S. soybeans last week totaled only 62,000 MT for the c...
PM Post - Weather or Not
THE OPEN November beans: 25 lower December meal: 5.60 lower December soyoil: 130 pts lower December corn: 13 lower December wheat: 14 lower Prices opened lower as values overall remain in large sideways patterns. End-users sought coverage as weather still remains questio...
Export Sales
Wheat: Net sales of 473,200 metric tons (MT) for 2021/2022 were up 11 percent from the previous week and 44 percent from the prior 4-week average. Corn: Net sales reductions of 88,500 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average.&nbs...
AM Outlook - Weathered Downward
GOOD MORNING, Prices took a turn lower as selling surfaced in Minneapolis wheat as rains crossed areas of Canada and the Great Lakes region. Minneapolis Sep. wheat travels 60c off the highs on Monday. Canola futures are lower as well, taking soyoil prices down with it. P...
Summary of Futures
Dec 21 Corn closed at $5.43/bushel, down $0.1825 from yesterday's close. Sep 21 Wheat closed at $6.84/bushel, down $0.0825 from yesterday's close. Nov 21 Soybeans closed at $13.5175/bushel, down $0.105 from yesterday's close. Dec 21 Soymeal closed at $356.2/short ton, down $9...
Market Commentary: Grains Fall on Weather, Weak Technicals; Livestock Markets Digest New Data
The CBOT pulled back again on Friday with weak technical conditions in corn and soybeans contributing to early declines. U.S. weather forecasts are mostly hot and dry still, but recent European model runs show greater precipitation for the central U.S. That put a bearish bias in the CBOT today...
CFTC COT Report Analysis
The attached PDF offers graphical depiction and seasonal analysis of managed money and commercial traders' net position in key agricultural commodity markets. The data is, of course, taken from the CFTC's weekly Commitment of Traders report, using the futures only data. WPI recently completed a...
PM Post - Bailing Out for the Weekend
THE OPEN November beans: 5 lower December meal: 3.80 lower December soyoil: 90 higher December corn: 1 1/4 lower December wheat: 3 3/4 higher The markets opened as expected with more profit-taking as funds remain long and the weaker technical picture, lower demand...
AM Outlook - Unwinding
GOOD MORNING, Prices are mixed this morning with higher oilshare and soyoil and firm wheat, vs. weaker beans, meal, and corn. Traders were busy unwinding previous oilshare values this week on the back of the Administration's delay to defining biofuel mandates, but that correction se...
Technical Views - Still Sideways
SPREADS We continue to see positive crush margins in the US, with August at 99c/bu and Sep. at 1.31c/bu. August oilshare trades to 47.70% and Sep. is at 47.25%. Sep/Dec meal trades from $3.40 carry out to $3.90. August/Nov bean inverse trades from a low of 49 1/4c up to 54 1/4...
Market Commentary: Weather Whiplash
While the gyrations in the equities market are based on things like earnings and risks from inflation or COVID, agricultural commodities are all about the weather. It is the known unknown and there will not be any clarity for a while yet. In a brief reflection of diversity (different commoditie...
Summary of Futures
Dec 21 Corn closed at $5.6125/bushel, down $0.0725 from yesterday's close. Sep 21 Wheat closed at $6.9225/bushel, down $0.185 from yesterday's close. Nov 21 Soybeans closed at $13.6225/bushel, down $0.275 from yesterday's close. Dec 21 Soymeal closed at $366/short ton, down $8...
Oilseed Highlights: U.S. Soy Sales; China Buys Argentine Soy; EU Soy Imports; Brazil Soy
U.S. Soy Export Sales Down Last Week The week ending 15 July was not a good one for export sales of U.S. soybeans, soymeal, and soyoil. Apparently, it will be quite a while before sales begin to substantially increase. Net export sales of U.S. soybeans last week totaled only 62,000 MT for the c...
PM Post - Weather or Not
THE OPEN November beans: 25 lower December meal: 5.60 lower December soyoil: 130 pts lower December corn: 13 lower December wheat: 14 lower Prices opened lower as values overall remain in large sideways patterns. End-users sought coverage as weather still remains questio...
Export Sales
Wheat: Net sales of 473,200 metric tons (MT) for 2021/2022 were up 11 percent from the previous week and 44 percent from the prior 4-week average. Corn: Net sales reductions of 88,500 MT for 2020/2021 were down noticeably from the previous week and from the prior 4-week average.&nbs...
AM Outlook - Weathered Downward
GOOD MORNING, Prices took a turn lower as selling surfaced in Minneapolis wheat as rains crossed areas of Canada and the Great Lakes region. Minneapolis Sep. wheat travels 60c off the highs on Monday. Canola futures are lower as well, taking soyoil prices down with it. P...