Recent Soy & Oilseeds Analysis
Summary of Futures
Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close. Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close. Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close. Jan 21 Soymeal closed at $390.2/short ton, down $...
Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support
The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...
PM Post - Weaker Trading Ranges
THE OPEN Jan beans: 2 lower Jan meal: .80 lower Jan soyoil: 5 higher March corn: 1/4 lower March wheat: 3/4 lower The markets opened tentatively for the soy complex and lower for wheat. Major reversal signals created weaker trade today, as the seasonal rally...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA An electrical fire at the main grain silo in Tartous Syria has meant that 35,000 MT of wheat had to be moved to other storage. The wheat was not damaged by the fire but there was some damage to the silos – total damage to the s...
AM Outlook - Higher but Cautious
GOOD MORNING, The markets broke heavily on Monday and are attempting a recovery trade today. The only question would be is this a dead-cat bounce after yesterday's aggressive selling? Many weaker longs were stopped out, and that could be the theme of December, where more trade...
Technical Views - Up at Resistance
SPREADS March crush trades to 97.71c/bu while oilshare trades to 32.40%. No deliveries find Dec/March corn narrowing into 6c from 6 1/2c, while the Dec/Dec inverse trades at 12c. Jan/March beans trade from 1/2c to 1 1/2c carry. Dec/March meal trades from $4.60 inverse to...
Market Commentary: South American Rains Douse CBOT Rallies
Heavy weekend rains for parts of South America took away a pillar of bullish support and sparked aggressive selling at the CBOT on Monday. March corn posted a new contract high overnight but could not hold gains and soybeans were once again stymied at the $12.00 level. The day session saw soybe...
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...
Summary of Futures
Mar 21 Corn closed at $4.26/bushel, down $0.0775 from yesterday's close. Mar 21 Wheat closed at $5.85/bushel, down $0.21 from yesterday's close. Jan 21 Soybeans closed at $11.685/bushel, down $0.2325 from yesterday's close. Jan 21 Soymeal closed at $390.5/short ton, down $5.8...
Mercosur Regional Analysis
Wheat Argentina’s wheat harvest is moving quickly and advanced 11 percent last week, reaching 31 percent total completion. The harvest is finished in the north with farmers posting the lowest yields in five years at 0.85 MT/ha. Further south, yields are still disappointing with the northe...
European Market Analysis
Regional News The current 7-day forecast for Europe favors widespread rainfall across the western and southeast regions, with heavy rain forecast for Italy and the Balkans. A high-pressure ridge exists over western and southern Russia that will prevent meaningful rainfall from developing...
PM Post - Negative Technicals
THE OPEN Jan beans: 11 lower Jan meal: 2.30 lower Jan soyoil: 60 lower March corn: 2 lower March wheat: 6 3/4 lower The market opened into weakness with more negative technical signals arising that led to a better round of long liquidation. Beans traded weake...
Summary of Futures
Mar 21 Corn closed at $4.2075/bushel, down $0.0525 from yesterday's close. Mar 21 Wheat closed at $5.7725/bushel, down $0.0775 from yesterday's close. Jan 21 Soybeans closed at $11.62/bushel, down $0.065 from yesterday's close. Jan 21 Soymeal closed at $390.2/short ton, down $...
Market Commentary: Wheat Selloff Continues; Corn Approaches Major Support
The CBOT attempted a dead-cat bounce overnight but turned lower during the day session. Wheat was the downside leader as weak technical conditions, and a large Australian crop are pressuring the price outlook. Wheat weakness pulled corn lower and the March futures contract slipped to major tren...
PM Post - Weaker Trading Ranges
THE OPEN Jan beans: 2 lower Jan meal: .80 lower Jan soyoil: 5 higher March corn: 1/4 lower March wheat: 3/4 lower The markets opened tentatively for the soy complex and lower for wheat. Major reversal signals created weaker trade today, as the seasonal rally...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA An electrical fire at the main grain silo in Tartous Syria has meant that 35,000 MT of wheat had to be moved to other storage. The wheat was not damaged by the fire but there was some damage to the silos – total damage to the s...
AM Outlook - Higher but Cautious
GOOD MORNING, The markets broke heavily on Monday and are attempting a recovery trade today. The only question would be is this a dead-cat bounce after yesterday's aggressive selling? Many weaker longs were stopped out, and that could be the theme of December, where more trade...
Technical Views - Up at Resistance
SPREADS March crush trades to 97.71c/bu while oilshare trades to 32.40%. No deliveries find Dec/March corn narrowing into 6c from 6 1/2c, while the Dec/Dec inverse trades at 12c. Jan/March beans trade from 1/2c to 1 1/2c carry. Dec/March meal trades from $4.60 inverse to...
Market Commentary: South American Rains Douse CBOT Rallies
Heavy weekend rains for parts of South America took away a pillar of bullish support and sparked aggressive selling at the CBOT on Monday. March corn posted a new contract high overnight but could not hold gains and soybeans were once again stymied at the $12.00 level. The day session saw soybe...
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...
Summary of Futures
Mar 21 Corn closed at $4.26/bushel, down $0.0775 from yesterday's close. Mar 21 Wheat closed at $5.85/bushel, down $0.21 from yesterday's close. Jan 21 Soybeans closed at $11.685/bushel, down $0.2325 from yesterday's close. Jan 21 Soymeal closed at $390.5/short ton, down $5.8...
Mercosur Regional Analysis
Wheat Argentina’s wheat harvest is moving quickly and advanced 11 percent last week, reaching 31 percent total completion. The harvest is finished in the north with farmers posting the lowest yields in five years at 0.85 MT/ha. Further south, yields are still disappointing with the northe...
European Market Analysis
Regional News The current 7-day forecast for Europe favors widespread rainfall across the western and southeast regions, with heavy rain forecast for Italy and the Balkans. A high-pressure ridge exists over western and southern Russia that will prevent meaningful rainfall from developing...
PM Post - Negative Technicals
THE OPEN Jan beans: 11 lower Jan meal: 2.30 lower Jan soyoil: 60 lower March corn: 2 lower March wheat: 6 3/4 lower The market opened into weakness with more negative technical signals arising that led to a better round of long liquidation. Beans traded weake...