Recent Soy & Oilseeds Analysis
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Oilseeds Highlights – Supply is Responding
Soybeans did not beat corn after all in the annual battle for acres. USDA’s Acreage report this week revealed that 88.33 million acres will be planted to soybeans, which is up 1 percent from last year but down nearly 3 percent from the implied sowing in the March planting intentions repor...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Summary of Futures
Dec 22 Corn closed at $6.1975/bushel, down $0.34 from yesterday's close. Sep 22 Wheat closed at $8.84/bushel, down $0.46 from yesterday's close. Nov 22 Soybeans closed at $14.58/bushel, down $0.2025 from yesterday's close. Dec 22 Soymeal closed at $406.7/short ton, down $0.3 f...
China In-Country Analysis
Livestock Live Hog Price Remains Hot, Jumps More Than 6 Percent in One Day Tuesday saw the national average live hog price single day increase of RMB 1.12/kg ($.08/lb.) or 6.3 percent to 18.94/kg ($1.28/lb.). As of yesterday, sixteen provinces, including, Anhui, Beijing, Fujian, Guangdong, Hebe...
Export Sales
Export Sales for June 17-23, 2022. Wheat: Net sales of 496,700 metric tons (MT) for 2022/2023 primarily for the Philippines (68,000 MT), Brazil (57,500 MT), Mexico (55,000 MT, including decreases of 11,900 MT), Yemen (55,000 MT), and Italy (48,000 MT), were offset by reductions prim...
Summary of Futures
Dec 22 Corn closed at $6.5375/bushel, down $0.055 from yesterday's close. Sep 22 Wheat closed at $9.3/bushel, down $0.06 from yesterday's close. Nov 22 Soybeans closed at $14.7825/bushel, up $0.1575 from yesterday's close. Jul 22 Soymeal closed at $463.2/short ton, up $8.1 fro...
Market Commentary: Soy Rally Continues on Strong Demand; Jul-Sep Corn Spread Hits $1.06; Bullish Hogs and Pigs Report
The CBOT ended mixed with the soy complex rallying on strong soymeal and a turnaround in soyoil prices, coupled with a hot, dry August U.S. weather forecast– the key soybean yield determining period. Corn prices were mixed with the July contract rallying again amid strong spot commercial...
Black Sea Regional Analysis
Russian Grains Markets: 20-24 June 2022 Russia launched harvesting in the Southern Federal District as well as in seized and annexed Ukrainian Crimea. Other temporarily occupied Ukrainian territories, which include parts of Kherson, Zaporizhzhia, Donetsk, and Lugansk, will be harvesting in a si...
Market Commentary: Turnaround Tuesday; Weather Now Secondary to USDA Reports
The CBOT posted a Turnaround Tuesday with corn, wheat, and the entire soy complex pushing higher after the recent weakness. Soybeans and soymeal led the rally as spot demand for both commodities is rising and a 2+ percent rally in crude oil helped pull soyoil futures higher as well. Grains were...
Feed Demand from Stopping IUR
The WTO has been searching for limits in fisheries subsidies since at least 2001. There was agreement earlier this month to curb subsidies, though overfishing is expected to continue. Now the Biden Administration says it will continue to push for rules and enforcement against illegal and underr...
Market Commentary: CBOT Falls on Continued Fund Liquidation, Favorable U.S. Weather
The CBOT was sharply lower to end the week with traders taking risk off the table amid Thursday’s post-USDA report weakness and a three-day weekend looming. Soybeans were the downside leader despite the surprising reduction in acreage that USDA reported Thursday as funds were simply in a...
Oilseeds Highlights – Supply is Responding
Soybeans did not beat corn after all in the annual battle for acres. USDA’s Acreage report this week revealed that 88.33 million acres will be planted to soybeans, which is up 1 percent from last year but down nearly 3 percent from the implied sowing in the March planting intentions repor...
Summary of Futures
Dec 22 Corn closed at $6.075/bushel, down $0.1225 from yesterday's close. Sep 22 Wheat closed at $8.46/bushel, down $0.38 from yesterday's close. Nov 22 Soybeans closed at $13.9525/bushel, down $0.6275 from yesterday's close. Dec 22 Soymeal closed at $389.2/short ton, down $17...
Market Commentary: Some Tweaks but Bearish Weather
Trading was mostly lower before USDA released its Acreage and Stocks reports at noon eastern time today. The reports could have been market movers but much of what they said was already expected to some degree. Once released, they confirmed the bearish tone that was already in play but was poss...
Summary of Futures
Dec 22 Corn closed at $6.1975/bushel, down $0.34 from yesterday's close. Sep 22 Wheat closed at $8.84/bushel, down $0.46 from yesterday's close. Nov 22 Soybeans closed at $14.58/bushel, down $0.2025 from yesterday's close. Dec 22 Soymeal closed at $406.7/short ton, down $0.3 f...
China In-Country Analysis
Livestock Live Hog Price Remains Hot, Jumps More Than 6 Percent in One Day Tuesday saw the national average live hog price single day increase of RMB 1.12/kg ($.08/lb.) or 6.3 percent to 18.94/kg ($1.28/lb.). As of yesterday, sixteen provinces, including, Anhui, Beijing, Fujian, Guangdong, Hebe...
Export Sales
Export Sales for June 17-23, 2022. Wheat: Net sales of 496,700 metric tons (MT) for 2022/2023 primarily for the Philippines (68,000 MT), Brazil (57,500 MT), Mexico (55,000 MT, including decreases of 11,900 MT), Yemen (55,000 MT), and Italy (48,000 MT), were offset by reductions prim...
Summary of Futures
Dec 22 Corn closed at $6.5375/bushel, down $0.055 from yesterday's close. Sep 22 Wheat closed at $9.3/bushel, down $0.06 from yesterday's close. Nov 22 Soybeans closed at $14.7825/bushel, up $0.1575 from yesterday's close. Jul 22 Soymeal closed at $463.2/short ton, up $8.1 fro...
Market Commentary: Soy Rally Continues on Strong Demand; Jul-Sep Corn Spread Hits $1.06; Bullish Hogs and Pigs Report
The CBOT ended mixed with the soy complex rallying on strong soymeal and a turnaround in soyoil prices, coupled with a hot, dry August U.S. weather forecast– the key soybean yield determining period. Corn prices were mixed with the July contract rallying again amid strong spot commercial...
Black Sea Regional Analysis
Russian Grains Markets: 20-24 June 2022 Russia launched harvesting in the Southern Federal District as well as in seized and annexed Ukrainian Crimea. Other temporarily occupied Ukrainian territories, which include parts of Kherson, Zaporizhzhia, Donetsk, and Lugansk, will be harvesting in a si...
Market Commentary: Turnaround Tuesday; Weather Now Secondary to USDA Reports
The CBOT posted a Turnaround Tuesday with corn, wheat, and the entire soy complex pushing higher after the recent weakness. Soybeans and soymeal led the rally as spot demand for both commodities is rising and a 2+ percent rally in crude oil helped pull soyoil futures higher as well. Grains were...
Feed Demand from Stopping IUR
The WTO has been searching for limits in fisheries subsidies since at least 2001. There was agreement earlier this month to curb subsidies, though overfishing is expected to continue. Now the Biden Administration says it will continue to push for rules and enforcement against illegal and underr...