Recent Soy & Oilseeds Analysis
Market Commentary: CBOT Consolidates Amid Argentine Dryness, Slow Export News
The CBOT was mostly lower in decidedly consolidative trade on Wednesday. Ag futures seem to be bumping up against key support levels where end-users are extending purchases. Short sellers seem to be mostly absent the market amid South American weather concerns and expectations that USDA will of...
Summary of Futures
May 21 Corn closed at $5.3525/bushel, down $0.0975 from yesterday's close. May 21 Wheat closed at $6.56/bushel, down $0.1025 from yesterday's close. May 21 Soybeans closed at $14.075/bushel, down $0.05 from yesterday's close. May 21 Soymeal closed at $418.8/short ton, down $2...
China In-Country Analysis
Note to Readers Coronavirus Hits Home Despite our best efforts to practice social distancing and good hygiene, including the wearing of masks in public, our staff was impacted by COVID-19 in February. One of our writer/editor’s and family members were hit pretty severely with the disease,...
Sourcing Changes; Prices Attractive
U.S. export sales are seasonally slowing, which is impacting CBOT futures. American farmers have nonetheless had a good run. The value of the dollar is up 1.6 percent from its low at the start of the year, which further adds competitive pressure. After nearly a four-month run of U.S...
PM Post - Breaking Not Broken
THE OPEN May beans: 11 lower May meal: 5.00 lower May soyoil: 22 lower May corn: 7 1/2 lower May wheat: 11 1/4 lower Prices opened lower and continued to slide throughout the session, triggering sell-stops. Funds were selling what they purchased yesterday.&nb...
Black Sea Regional Analysis
Russian Grain Markets: 22-26 February 2021 Russian domestic grain prices followed the pattern of the previous week. Meanwhile, export milling wheat average price grew to $289/MT FOB Black Sea. The average purchase price amounted to RUB 14,600/MT CPT-port Black Sea. Feed barley average export pr...
AM Outlook - Swirl of Crops and Weather
GOOD MORNING, Prices continue to identify trading ranges that make sense heading into the March 9 WASDE. For the day, most of the markets are lower with the exception of firmer oilshare. Traders continue to buy soyoil on tight supply and sell meal on more emerging African Swine Feve...
Technical Views - Lower Side
SPREADS May crush continues to weaken trading down to 62.64c/bu while oilshare strengthens again to 37.26%. July/Nov beans trades higher from 1.66 3/4c to 1.73c, while May/July inverse strengthens to 16c from 14c. July/Dec inverse trades from $40.40 down to $38.60. ...
Market Commentary: CBOT Rallies on South American Weather, Poor U.S. Wheat Conditions
CBOT market dipped lower overnight, only to find end-user demand and some speculative buying. Any end-of-the-month selling pressure is now over, as is most of the rolling of March positions froward, which is helping futures stabilize. The South American weather forecast is worrisome for the cor...
Summary of Futures
May 21 Corn closed at $5.45/bushel, up $0.0675 from yesterday's close. May 21 Wheat closed at $6.6625/bushel, up $0.16 from yesterday's close. May 21 Soybeans closed at $14.125/bushel, up $0.2125 from yesterday's close. May 21 Soymeal closed at $421.7/short ton, up $3.4 from y...
PM Post - Own, Price or Cover
THE OPEN May beans: 1 lower May meal: .80 lower May soyoil: 8 higher May corn: 1/2 lower May weather: 8 1/2 higher The markets opened as expected with inverses recovering from a recent sell-off and prices popping off fresh lows. Buy bean/sell corn and buy soy...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Wheat farmers in parts of Pakistan are complaining that government set wheat prices are going to lead to greatly increased smuggling and shortages of wheat supplies in some areas. There is a lot of confusion about prices with areas l...
Market Commentary: CBOT Consolidates Amid Argentine Dryness, Slow Export News
The CBOT was mostly lower in decidedly consolidative trade on Wednesday. Ag futures seem to be bumping up against key support levels where end-users are extending purchases. Short sellers seem to be mostly absent the market amid South American weather concerns and expectations that USDA will of...
Summary of Futures
May 21 Corn closed at $5.3525/bushel, down $0.0975 from yesterday's close. May 21 Wheat closed at $6.56/bushel, down $0.1025 from yesterday's close. May 21 Soybeans closed at $14.075/bushel, down $0.05 from yesterday's close. May 21 Soymeal closed at $418.8/short ton, down $2...
China In-Country Analysis
Note to Readers Coronavirus Hits Home Despite our best efforts to practice social distancing and good hygiene, including the wearing of masks in public, our staff was impacted by COVID-19 in February. One of our writer/editor’s and family members were hit pretty severely with the disease,...
Sourcing Changes; Prices Attractive
U.S. export sales are seasonally slowing, which is impacting CBOT futures. American farmers have nonetheless had a good run. The value of the dollar is up 1.6 percent from its low at the start of the year, which further adds competitive pressure. After nearly a four-month run of U.S...
PM Post - Breaking Not Broken
THE OPEN May beans: 11 lower May meal: 5.00 lower May soyoil: 22 lower May corn: 7 1/2 lower May wheat: 11 1/4 lower Prices opened lower and continued to slide throughout the session, triggering sell-stops. Funds were selling what they purchased yesterday.&nb...
Black Sea Regional Analysis
Russian Grain Markets: 22-26 February 2021 Russian domestic grain prices followed the pattern of the previous week. Meanwhile, export milling wheat average price grew to $289/MT FOB Black Sea. The average purchase price amounted to RUB 14,600/MT CPT-port Black Sea. Feed barley average export pr...
AM Outlook - Swirl of Crops and Weather
GOOD MORNING, Prices continue to identify trading ranges that make sense heading into the March 9 WASDE. For the day, most of the markets are lower with the exception of firmer oilshare. Traders continue to buy soyoil on tight supply and sell meal on more emerging African Swine Feve...
Technical Views - Lower Side
SPREADS May crush continues to weaken trading down to 62.64c/bu while oilshare strengthens again to 37.26%. July/Nov beans trades higher from 1.66 3/4c to 1.73c, while May/July inverse strengthens to 16c from 14c. July/Dec inverse trades from $40.40 down to $38.60. ...
Market Commentary: CBOT Rallies on South American Weather, Poor U.S. Wheat Conditions
CBOT market dipped lower overnight, only to find end-user demand and some speculative buying. Any end-of-the-month selling pressure is now over, as is most of the rolling of March positions froward, which is helping futures stabilize. The South American weather forecast is worrisome for the cor...
Summary of Futures
May 21 Corn closed at $5.45/bushel, up $0.0675 from yesterday's close. May 21 Wheat closed at $6.6625/bushel, up $0.16 from yesterday's close. May 21 Soybeans closed at $14.125/bushel, up $0.2125 from yesterday's close. May 21 Soymeal closed at $421.7/short ton, up $3.4 from y...
PM Post - Own, Price or Cover
THE OPEN May beans: 1 lower May meal: .80 lower May soyoil: 8 higher May corn: 1/2 lower May weather: 8 1/2 higher The markets opened as expected with inverses recovering from a recent sell-off and prices popping off fresh lows. Buy bean/sell corn and buy soy...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA Wheat farmers in parts of Pakistan are complaining that government set wheat prices are going to lead to greatly increased smuggling and shortages of wheat supplies in some areas. There is a lot of confusion about prices with areas l...