Recent Soy & Oilseeds Analysis
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...
Market Commentary
The market was called to open higher with traders adjusting positions ahead of next week’s Planting Intentions report. The CBOT opened mostly in-line with expectations but quickly turned mixed with profit taking in soymeal creating two-sided trade in soyoil. Spread trading was light and w...
Summary of Futures
May 20 Corn closed at $3.46/bushel, down $0.0275 from yesterday's close. May 20 Wheat closed at $5.7125/bushel, up $0.0225 from yesterday's close. May 20 Soybeans closed at $8.815/bushel, up $0.0125 from yesterday's close. May 20 Soymeal closed at $323.1/short ton, up $0.2 fro...
PM Post - Mixed Day
THE OPEN May beans: 3 higher May meal: 3.80 higher May Soyoil: 2 lower May corn: 1 1/2 lower May wheat: 9 1/4 higher The market opened in line with trade expectations, as traders cleaned up positions into the weekend and report day next week. The markets were...
Technical Views - Buy Wheat; Sell Corn/Soyoil
SPREADS July crush trades at 1.17c/bu, still a very good margin, with oilshare firming slightly to 29.58%. The July/Nov bean inverse continues to consolidate from 6 3/4c to 5 1/2c. May/July beans trades from 4 1/2c to 4 3/4c. July/Dec corn trades from 13 1/4c to 14c carry.&nbs...
AM Outlook - Prepositioning
GOOD MORNING, Prices are mixed this morning as the focus of the next two trading sessions will be setting up for the March 31 Planting Intentions report and Quarterly Stocks number. Wheat is higher as Russia's Ag Ministry said they have proposed grain export quotas, with the initial propo...
Oilseed Highlights: U.S. Soy Export Sales; Argentine Problems; U.S. Soy Plantings
Large U.S. Soy Export Sales Last Week The week was a good one for exporters of U.S. soybeans, soymeal and soyoil according to today’s USDA export sales report. The large sales included what appears to be three cargoes of soybeans to China. Net soybean export sales last week totaled 904,30...
Summary of Futures
May 20 Corn closed at $3.4875/bushel, up $0.0025 from yesterday's close. May 20 Wheat closed at $5.69/bushel, down $0.11 from yesterday's close. May 20 Soybeans closed at $8.8025/bushel, down $0.0125 from yesterday's close. May 20 Soymeal closed at $322.9/short ton, up $1.2 fr...
Market Commentary
The market opened the day mixed as called and with some profit-taking; it ended the day mostly lower but with some interesting twists and turns. Volume: Volume was relatively low except for the Euronext wheat contract and feeder cattle. Red Hogs: There were higher bids for most...
PM Post - Unwinding Inter-market Spreads
THE OPEN May beans: 1/2 higher May meal: 4.20 higher May soyoil: 12 lower May corn: 1 1/2 lower May wheat: 3 higher The markets were mixed with the major theme that of unwinding of inter-market spreads. Oilshare was trading weaker as traders return to buy mea...
Export Sales
Wheat: Net sales of 740,000 metric tons for 2019/2020 were up noticeably from the previous week and up 73 percent from the prior 4-week average. Corn: Net sales of 1,814,300 MT for 2019/2020--a marketing-year high--were up noticeably from the previous week and up 81 percent from the...
Technical Views - Back and Forth
SPREADS July crush trades to 1.15c/bu, while oilshare weakens to 29.42% as traders buy meal/sell soyoil this morning. July/Dec corn weakens back out to 15c from 13 1/2c, while May/July trades from 5 1/4c out to 6c. May/July wheat trades to a new high inverse at 14 1/2c from 10 1/2c,...
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...
Market Commentary
The market was called to open higher with traders adjusting positions ahead of next week’s Planting Intentions report. The CBOT opened mostly in-line with expectations but quickly turned mixed with profit taking in soymeal creating two-sided trade in soyoil. Spread trading was light and w...
Summary of Futures
May 20 Corn closed at $3.46/bushel, down $0.0275 from yesterday's close. May 20 Wheat closed at $5.7125/bushel, up $0.0225 from yesterday's close. May 20 Soybeans closed at $8.815/bushel, up $0.0125 from yesterday's close. May 20 Soymeal closed at $323.1/short ton, up $0.2 fro...
PM Post - Mixed Day
THE OPEN May beans: 3 higher May meal: 3.80 higher May Soyoil: 2 lower May corn: 1 1/2 lower May wheat: 9 1/4 higher The market opened in line with trade expectations, as traders cleaned up positions into the weekend and report day next week. The markets were...
Technical Views - Buy Wheat; Sell Corn/Soyoil
SPREADS July crush trades at 1.17c/bu, still a very good margin, with oilshare firming slightly to 29.58%. The July/Nov bean inverse continues to consolidate from 6 3/4c to 5 1/2c. May/July beans trades from 4 1/2c to 4 3/4c. July/Dec corn trades from 13 1/4c to 14c carry.&nbs...
AM Outlook - Prepositioning
GOOD MORNING, Prices are mixed this morning as the focus of the next two trading sessions will be setting up for the March 31 Planting Intentions report and Quarterly Stocks number. Wheat is higher as Russia's Ag Ministry said they have proposed grain export quotas, with the initial propo...
Oilseed Highlights: U.S. Soy Export Sales; Argentine Problems; U.S. Soy Plantings
Large U.S. Soy Export Sales Last Week The week was a good one for exporters of U.S. soybeans, soymeal and soyoil according to today’s USDA export sales report. The large sales included what appears to be three cargoes of soybeans to China. Net soybean export sales last week totaled 904,30...
Summary of Futures
May 20 Corn closed at $3.4875/bushel, up $0.0025 from yesterday's close. May 20 Wheat closed at $5.69/bushel, down $0.11 from yesterday's close. May 20 Soybeans closed at $8.8025/bushel, down $0.0125 from yesterday's close. May 20 Soymeal closed at $322.9/short ton, up $1.2 fr...
Market Commentary
The market opened the day mixed as called and with some profit-taking; it ended the day mostly lower but with some interesting twists and turns. Volume: Volume was relatively low except for the Euronext wheat contract and feeder cattle. Red Hogs: There were higher bids for most...
PM Post - Unwinding Inter-market Spreads
THE OPEN May beans: 1/2 higher May meal: 4.20 higher May soyoil: 12 lower May corn: 1 1/2 lower May wheat: 3 higher The markets were mixed with the major theme that of unwinding of inter-market spreads. Oilshare was trading weaker as traders return to buy mea...
Export Sales
Wheat: Net sales of 740,000 metric tons for 2019/2020 were up noticeably from the previous week and up 73 percent from the prior 4-week average. Corn: Net sales of 1,814,300 MT for 2019/2020--a marketing-year high--were up noticeably from the previous week and up 81 percent from the...
Technical Views - Back and Forth
SPREADS July crush trades to 1.15c/bu, while oilshare weakens to 29.42% as traders buy meal/sell soyoil this morning. July/Dec corn weakens back out to 15c from 13 1/2c, while May/July trades from 5 1/4c out to 6c. May/July wheat trades to a new high inverse at 14 1/2c from 10 1/2c,...