Recent Soy & Oilseeds Analysis
Market Commentary: Futures Scream Higher; Cash Markets Also on Fire
The CBOT continues to scream higher with Chinese buying of U.S. corn and soybeans underpinning prices. Managed money funds have been aggressive buyers as technical analysis has shown few, if any, reasons to be bearish or sell a long position. The rally is not isolated to the futures market eith...
Summary of Futures
Dec 20 Corn closed at $3.785/bushel, up $0.0325 from yesterday's close. Dec 20 Wheat closed at $5.75/bushel, up $0.1875 from yesterday's close. Nov 20 Soybeans closed at $10.435/bushel, up $0.15 from yesterday's close. Dec 20 Soymeal closed at $342.1/short ton, up $6.8 from ye...
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...
PM Post - Profit-taking
THE OPEN November beans: 9 higher December meal: 3.50 higher December soyoil: 7 higher December corn: 1 higher December wheat: 2 1/4 higher Prices opened as expected with soyoil futures trading into the red at the start of the day and overbought charts prompting ea...
AM Outlook - Buying the Open
GOOD MORNING, The charts continue to throw off bullish technical signals, so the funds are buying the open and running with it. The continuing reports of Chinese business has its corollary year based in 2016, also a very big bean buying year that saw the bean/corn ratio strengthen through...
Technical Views - Technically Higher
SPREADS Dec crush trades to 92.15c/bu while oilshare trades to 34.24%. Dec/March corn trades to 8 1/4c from 8 3/4c, while Dec/Dec narrows to 11 1/2c from 15c. Nov/Jan beans trades back into 2 3/4c from 3 3/4c, while Jan/March inverts to 9 1/2c from 7c. Dec wheat/corn trades fr...
Market Commentary: Gambling on China
The market has been on a tear and it is all based on current demand from China and speculation that it will continue. Current demand prompts news articles about U.S. infrastructure capacity to service it, prospective future demand has funds lined up to go longer. The fundamentals leave us quest...
Summary of Futures
Dec 20 Corn closed at $3.7525/bushel, up $0.035 from yesterday's close. Dec 20 Wheat closed at $5.5625/bushel, up $0.1425 from yesterday's close. Nov 20 Soybeans closed at $10.285/bushel, up $0.1725 from yesterday's close. Dec 20 Soymeal closed at $335.3/short ton, up $9.6 fro...
Oilseed Highlights: Changing China’s Planting Priorities; August Soy Crush Report; U.S. Soy Sales
China Urged to Prioritize Corn, Wheat and Rice Production Over Soybean Production Speakers at this year’s China Soybean Industry International Summit Forum urged the government of China to stop prioritizing the plantings of soybeans to supply the animal food market and instead allow more...
PM Post - Still No Reversal
THE OPEN November beans: 2 1/4 lower December meal: .40 lower December soyoil: 3 lower December corn: 1 14/ lower December wheat: 1 3/4 lower The markets opened as called and jumped either side of even with beans and corn supported by good export sales and more bus...
Export Sales
Wheat: Net sales of 335,700 metric tons (MT) for 2020/2021 were down 31 percent from the previous week and 42 percent from the prior 4-week average. Corn: Net sales of 1,609,200 MT for 2020/2021 were primarily for unknown destinations (360,200 MT), China (359,700 MT, including 140,0...
AM Outlook - Lower Open on Profit-taking
GOOD MORNING, Prices were stronger with beans rallying higher as more rumors of Chinese business hit the wires. The outlook for China's bean and corn imports continues to be friendly for prices, particularly since China's production outlook was lowered due to multiple typhoons impacting c...
Market Commentary: Futures Scream Higher; Cash Markets Also on Fire
The CBOT continues to scream higher with Chinese buying of U.S. corn and soybeans underpinning prices. Managed money funds have been aggressive buyers as technical analysis has shown few, if any, reasons to be bearish or sell a long position. The rally is not isolated to the futures market eith...
Summary of Futures
Dec 20 Corn closed at $3.785/bushel, up $0.0325 from yesterday's close. Dec 20 Wheat closed at $5.75/bushel, up $0.1875 from yesterday's close. Nov 20 Soybeans closed at $10.435/bushel, up $0.15 from yesterday's close. Dec 20 Soymeal closed at $342.1/short ton, up $6.8 from ye...
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...
PM Post - Profit-taking
THE OPEN November beans: 9 higher December meal: 3.50 higher December soyoil: 7 higher December corn: 1 higher December wheat: 2 1/4 higher Prices opened as expected with soyoil futures trading into the red at the start of the day and overbought charts prompting ea...
AM Outlook - Buying the Open
GOOD MORNING, The charts continue to throw off bullish technical signals, so the funds are buying the open and running with it. The continuing reports of Chinese business has its corollary year based in 2016, also a very big bean buying year that saw the bean/corn ratio strengthen through...
Technical Views - Technically Higher
SPREADS Dec crush trades to 92.15c/bu while oilshare trades to 34.24%. Dec/March corn trades to 8 1/4c from 8 3/4c, while Dec/Dec narrows to 11 1/2c from 15c. Nov/Jan beans trades back into 2 3/4c from 3 3/4c, while Jan/March inverts to 9 1/2c from 7c. Dec wheat/corn trades fr...
Market Commentary: Gambling on China
The market has been on a tear and it is all based on current demand from China and speculation that it will continue. Current demand prompts news articles about U.S. infrastructure capacity to service it, prospective future demand has funds lined up to go longer. The fundamentals leave us quest...
Summary of Futures
Dec 20 Corn closed at $3.7525/bushel, up $0.035 from yesterday's close. Dec 20 Wheat closed at $5.5625/bushel, up $0.1425 from yesterday's close. Nov 20 Soybeans closed at $10.285/bushel, up $0.1725 from yesterday's close. Dec 20 Soymeal closed at $335.3/short ton, up $9.6 fro...
Oilseed Highlights: Changing China’s Planting Priorities; August Soy Crush Report; U.S. Soy Sales
China Urged to Prioritize Corn, Wheat and Rice Production Over Soybean Production Speakers at this year’s China Soybean Industry International Summit Forum urged the government of China to stop prioritizing the plantings of soybeans to supply the animal food market and instead allow more...
PM Post - Still No Reversal
THE OPEN November beans: 2 1/4 lower December meal: .40 lower December soyoil: 3 lower December corn: 1 14/ lower December wheat: 1 3/4 lower The markets opened as called and jumped either side of even with beans and corn supported by good export sales and more bus...
Export Sales
Wheat: Net sales of 335,700 metric tons (MT) for 2020/2021 were down 31 percent from the previous week and 42 percent from the prior 4-week average. Corn: Net sales of 1,609,200 MT for 2020/2021 were primarily for unknown destinations (360,200 MT), China (359,700 MT, including 140,0...
AM Outlook - Lower Open on Profit-taking
GOOD MORNING, Prices were stronger with beans rallying higher as more rumors of Chinese business hit the wires. The outlook for China's bean and corn imports continues to be friendly for prices, particularly since China's production outlook was lowered due to multiple typhoons impacting c...