Recent Soy & Oilseeds Analysis
Market Commentary: Major Markets Bullish for Different Reasons
The CBOT was mostly higher for the day with each of the major markets rallying based on different sets of fundamental reasons. Corn was the decided upside leader as the 14-day forecast remains hot and dry for the central and Eastern Corn Belt. The shift towards persistent dry weather is c...
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
Jul 23 Corn closed at $6.09/bushel, up $0.165 from yesterday's close. Jul 23 Wheat closed at $6.19/bushel, up $0.0825 from yesterday's close. Jul 23 Soybeans closed at $13.525/bushel, up $0.23 from yesterday's close. Jul 23 Soymeal closed at $397.8/short ton, down $3.6 from ye...
Oilseed Highlights – Whether the Weather
The Market There were notable price movements the past few days despite it being a holiday abbreviated trading week. November soybeans gained 37.25 cents in just the past two days and the July soybean contract added 15.25 cents for the week despite taking a sharp loss on Tuesday. Soyoil lost it...
Export Sales
Export Sales and Shipments for May 12-18, 2023 Wheat: Net sales reductions of 45,100 metric tons (MT) for 2022/2023--a marketing-year low--were up 7 percent from the previous week, but down noticeably from the prior 4-week average. Export shipments of 386,300 MT were up 78 percent f...
Market Commentary: Weather Market
Thursday’s release of USDA’s weekly Drought Monitor report reinforced that new crops in the ground could begin to feel some stress. The report showed abnormally dry conditions throughout most of the U.S. production zone. The early season dryness could really impact corn, whic...
Summary of Futures
Jul 23 Corn closed at $5.925/bushel, down $0.015 from yesterday's close. Jul 23 Wheat closed at $6.1075/bushel, up $0.165 from yesterday's close. Jul 23 Soybeans closed at $13.295/bushel, up $0.2975 from yesterday's close. Jul 23 Soymeal closed at $401.4/short ton, up $8 from...
Market Commentary: Old Crop Futures Hit Decision Point
The CBOT traded a volatile day with overnight weakness leading to a selling spike as the day session started. That weakness, however, was quickly met with end-user buying, bottom-picking, and short-covering that boosted spot corn and soy complex futures while adding strength to wheat markets mo...
China In-Country Analysis
Livestock Financials Reports Show Major Hog Companies Awash in Debt On 30 May, Ao Nong Biotechnology Co., Ltd., the fifth largest hog farming company in China based on 2022 sales, announced an emergency cash injection from its founder. Mr. Youlin Wu, the company’s head and controlling own...
Summary of Futures
Jul 23 Corn closed at $5.94/bushel, up $0 from yesterday's close. Jul 23 Wheat closed at $5.9425/bushel, up $0.0325 from yesterday's close. Jul 23 Soybeans closed at $12.9975/bushel, up $0.0325 from yesterday's close. Jul 23 Soymeal closed at $393.4/short ton, up $0.8 from yes...
Black Sea Regional Analysis
Russian Grain Markets: 22 – 26 May 2023 Russian farmers continue their spring planting campaign. The Minister of Agriculture reports that around 33.2 Mha have been planted out of the 57 Mha scheduled. Also, 93 percent of winter crops are in good condition but in certain areas winter...
Market Commentary: CBOT Trade Reflects Long Term Bearish Outlook
The CBOT started the week on a bearish note with expectations for strong planting progress across the U.S. and sluggish demand weighing on markets. Friday’s CFTC report that showed continued fund short selling in major ag commodities also helped keep markets on the defensive to start the...
Market Commentary: Major Markets Bullish for Different Reasons
The CBOT was mostly higher for the day with each of the major markets rallying based on different sets of fundamental reasons. Corn was the decided upside leader as the 14-day forecast remains hot and dry for the central and Eastern Corn Belt. The shift towards persistent dry weather is c...
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
Jul 23 Corn closed at $6.09/bushel, up $0.165 from yesterday's close. Jul 23 Wheat closed at $6.19/bushel, up $0.0825 from yesterday's close. Jul 23 Soybeans closed at $13.525/bushel, up $0.23 from yesterday's close. Jul 23 Soymeal closed at $397.8/short ton, down $3.6 from ye...
Oilseed Highlights – Whether the Weather
The Market There were notable price movements the past few days despite it being a holiday abbreviated trading week. November soybeans gained 37.25 cents in just the past two days and the July soybean contract added 15.25 cents for the week despite taking a sharp loss on Tuesday. Soyoil lost it...
Export Sales
Export Sales and Shipments for May 12-18, 2023 Wheat: Net sales reductions of 45,100 metric tons (MT) for 2022/2023--a marketing-year low--were up 7 percent from the previous week, but down noticeably from the prior 4-week average. Export shipments of 386,300 MT were up 78 percent f...
Market Commentary: Weather Market
Thursday’s release of USDA’s weekly Drought Monitor report reinforced that new crops in the ground could begin to feel some stress. The report showed abnormally dry conditions throughout most of the U.S. production zone. The early season dryness could really impact corn, whic...
Summary of Futures
Jul 23 Corn closed at $5.925/bushel, down $0.015 from yesterday's close. Jul 23 Wheat closed at $6.1075/bushel, up $0.165 from yesterday's close. Jul 23 Soybeans closed at $13.295/bushel, up $0.2975 from yesterday's close. Jul 23 Soymeal closed at $401.4/short ton, up $8 from...
Market Commentary: Old Crop Futures Hit Decision Point
The CBOT traded a volatile day with overnight weakness leading to a selling spike as the day session started. That weakness, however, was quickly met with end-user buying, bottom-picking, and short-covering that boosted spot corn and soy complex futures while adding strength to wheat markets mo...
China In-Country Analysis
Livestock Financials Reports Show Major Hog Companies Awash in Debt On 30 May, Ao Nong Biotechnology Co., Ltd., the fifth largest hog farming company in China based on 2022 sales, announced an emergency cash injection from its founder. Mr. Youlin Wu, the company’s head and controlling own...
Summary of Futures
Jul 23 Corn closed at $5.94/bushel, up $0 from yesterday's close. Jul 23 Wheat closed at $5.9425/bushel, up $0.0325 from yesterday's close. Jul 23 Soybeans closed at $12.9975/bushel, up $0.0325 from yesterday's close. Jul 23 Soymeal closed at $393.4/short ton, up $0.8 from yes...
Black Sea Regional Analysis
Russian Grain Markets: 22 – 26 May 2023 Russian farmers continue their spring planting campaign. The Minister of Agriculture reports that around 33.2 Mha have been planted out of the 57 Mha scheduled. Also, 93 percent of winter crops are in good condition but in certain areas winter...
Market Commentary: CBOT Trade Reflects Long Term Bearish Outlook
The CBOT started the week on a bearish note with expectations for strong planting progress across the U.S. and sluggish demand weighing on markets. Friday’s CFTC report that showed continued fund short selling in major ag commodities also helped keep markets on the defensive to start the...