Recent Soy & Oilseeds Analysis
Summary of Futures
Mar 19 Corn closed at $3.8175/bushel, up $0.0175 from yesterday's close. Mar 19 Wheat closed at $5.1775/bushel, up $0 from yesterday's close. Mar 19 Soybeans closed at $9.1675/bushel, up $0.09 from yesterday's close. Mar 19 Soymeal closed at $315.1/short ton, up $2.9 from yest...
Market Commentary
Markets had some follow-through overnight from yesterday’s good gains. Wheat and soybeans were up 3-4 cents with corn fractionally higher. None of that enthusiasm was present today in either of those markets, though. Meanwhile, soybean futures made a run at double-digit gains before closi...
Indian Subcontinent Regional Analysis
Rabi Sowing Down As of 18 January 2019, the total rabi planted area was down 4.8 percent versus 2017/18. While wheat is among the crops affected, pulses and coarse cereals, most especially pearl millet, are down significantly (see table below). The overal oilseed area has been good, however, as...
Market Commentary
Grain and soy prices were mildly firmer overnight, based mostly on forecasts that the adverse South American weather conditions would persist at least through January. Otherwise, inputs were lacking, however, and trading was uninspired. The overnight trade gave no hint of the rally that took of...
South American Soybeans and Weather
In these days of the USDA blackout, the soybean market is left to focus on the prospects from U.S. China trade negotiations and South American weather. Of course, this situation would not change much if USDA were back in business as those would remain the key issues, but its final U.S. soybean...
Oilseed Highlights: Malaysian Biodiesel; Soymeal and DDGS; Argentine Soy Crushers; Pakistan and Cargill
Malaysia to Double Use of Palm-Based Biodiesel The glut and low prices of palm oil have caused the government of Malaysia to double the blending requirement for biodiesel with diesel from the current 10 percent to 20 percent by 2020, according to Minister of Primary Industries Teresa Kok. Oil W...
Summary of Futures
Mar 19 Corn closed at $3.8/bushel, up $0.06 from yesterday's close. Mar 19 Wheat closed at $5.1775/bushel, up $0.0525 from yesterday's close. Mar 19 Soybeans closed at $9.0775/bushel, up $0.1325 from yesterday's close. Mar 19 Soymeal closed at $312.2/short ton, up $2.1 from ye...
Closing Bell Wrap-Up: CBOT Starts Slow, Scrambles to Exciting Finish
Morning price action at the CBOT was firm but mostly boring. That all changed around midday, however, as rumors of export sales, combined with headlines that Argentina’s soybean crop will be smaller than expected, sparked a large (by today’s standards) rally in the grains. Soybeans...
Market Commentary
The missing USDA reports due to the government shutdown receive all of the attention, but the Commodity Futures Trading Commission’s (CFTC’s) weekly Commitment of Traders (COT) report is among the missing as well. The last one was issued on 21 December with futures position data of...
Black Sea Regional Analysis
Russian Grain Markets: 8-11 January 2019 All domestic grain prices (except for milling rye) rose in RUB expression, but the growth in USD expression was significant due to the strengthening ruble. Meanwhile, the average milling wheat export price increased $2/MT to $240/MT FOB Black Sea, while...
Summary of Futures
Mar 19 Corn closed at $3.74/bushel, up $0.0275 from yesterday's close. Mar 19 Wheat closed at $5.125/bushel, up $0.015 from yesterday's close. Mar 19 Soybeans closed at $8.945/bushel, up $0.0125 from yesterday's close. Mar 19 Soymeal closed at $310.1/short ton, up $0.8 from ye...
Closing Bell Wrap-Up: Hogs Crash and Burn, Cattle Rally
CBOT prices were higher today after yesterday’s selloff. There was little fundamental reason for the move, except that traders must have sold what they wanted yesterday, leaving buyers to gain a slight advantage. Commercial purchases of “cheap” corn and soybeans was notable, a...
Summary of Futures
Mar 19 Corn closed at $3.8175/bushel, up $0.0175 from yesterday's close. Mar 19 Wheat closed at $5.1775/bushel, up $0 from yesterday's close. Mar 19 Soybeans closed at $9.1675/bushel, up $0.09 from yesterday's close. Mar 19 Soymeal closed at $315.1/short ton, up $2.9 from yest...
Market Commentary
Markets had some follow-through overnight from yesterday’s good gains. Wheat and soybeans were up 3-4 cents with corn fractionally higher. None of that enthusiasm was present today in either of those markets, though. Meanwhile, soybean futures made a run at double-digit gains before closi...
Indian Subcontinent Regional Analysis
Rabi Sowing Down As of 18 January 2019, the total rabi planted area was down 4.8 percent versus 2017/18. While wheat is among the crops affected, pulses and coarse cereals, most especially pearl millet, are down significantly (see table below). The overal oilseed area has been good, however, as...
Market Commentary
Grain and soy prices were mildly firmer overnight, based mostly on forecasts that the adverse South American weather conditions would persist at least through January. Otherwise, inputs were lacking, however, and trading was uninspired. The overnight trade gave no hint of the rally that took of...
South American Soybeans and Weather
In these days of the USDA blackout, the soybean market is left to focus on the prospects from U.S. China trade negotiations and South American weather. Of course, this situation would not change much if USDA were back in business as those would remain the key issues, but its final U.S. soybean...
Oilseed Highlights: Malaysian Biodiesel; Soymeal and DDGS; Argentine Soy Crushers; Pakistan and Cargill
Malaysia to Double Use of Palm-Based Biodiesel The glut and low prices of palm oil have caused the government of Malaysia to double the blending requirement for biodiesel with diesel from the current 10 percent to 20 percent by 2020, according to Minister of Primary Industries Teresa Kok. Oil W...
Summary of Futures
Mar 19 Corn closed at $3.8/bushel, up $0.06 from yesterday's close. Mar 19 Wheat closed at $5.1775/bushel, up $0.0525 from yesterday's close. Mar 19 Soybeans closed at $9.0775/bushel, up $0.1325 from yesterday's close. Mar 19 Soymeal closed at $312.2/short ton, up $2.1 from ye...
Closing Bell Wrap-Up: CBOT Starts Slow, Scrambles to Exciting Finish
Morning price action at the CBOT was firm but mostly boring. That all changed around midday, however, as rumors of export sales, combined with headlines that Argentina’s soybean crop will be smaller than expected, sparked a large (by today’s standards) rally in the grains. Soybeans...
Market Commentary
The missing USDA reports due to the government shutdown receive all of the attention, but the Commodity Futures Trading Commission’s (CFTC’s) weekly Commitment of Traders (COT) report is among the missing as well. The last one was issued on 21 December with futures position data of...
Black Sea Regional Analysis
Russian Grain Markets: 8-11 January 2019 All domestic grain prices (except for milling rye) rose in RUB expression, but the growth in USD expression was significant due to the strengthening ruble. Meanwhile, the average milling wheat export price increased $2/MT to $240/MT FOB Black Sea, while...
Summary of Futures
Mar 19 Corn closed at $3.74/bushel, up $0.0275 from yesterday's close. Mar 19 Wheat closed at $5.125/bushel, up $0.015 from yesterday's close. Mar 19 Soybeans closed at $8.945/bushel, up $0.0125 from yesterday's close. Mar 19 Soymeal closed at $310.1/short ton, up $0.8 from ye...
Closing Bell Wrap-Up: Hogs Crash and Burn, Cattle Rally
CBOT prices were higher today after yesterday’s selloff. There was little fundamental reason for the move, except that traders must have sold what they wanted yesterday, leaving buyers to gain a slight advantage. Commercial purchases of “cheap” corn and soybeans was notable, a...