World Perspectives

Soy & Oilseeds Recent Soy & Oilseeds Analysis

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.06/bushel, down $0.05 from yesterday's close.  May 24 Wheat closed at $5.7925/bushel, up $0.0125 from yesterday's close.  Mar 24 Soybeans closed at $11.4775/bushel, down $0.13 from yesterday's close.  May 24 Soymeal closed at $331.4/short ton, down $5.3 f...

livestock wheat soy-oilseeds

Market Commentary: CBOT Decline Continues while Stocks Rally; EPA Confirms Summer E15 Sales

The CBOT was mostly lower again on Thursday with funds retaining their bearish grip on the markets and driving futures into the red. Despite adjustments to South American crop expectations, corn and soybean markets are reacting to overall favorable production conditions and the looming crops th...

feed-grains soy-oilseeds wheat

Market Commentary: Corn Scores New Lows; CBOT to Remain Weak and Defensive

The CBOT resumed its downward trend on Wednesday with corn and soybeans abandoning any of the prior day’s strength while wheat futures wobbled but remained near Tuesday’s highs. Corn futures scored new contract lows with little fresh news available to offer support and favorable wea...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.11/bushel, down $0.0775 from yesterday's close.  May 24 Wheat closed at $5.78/bushel, down $0.0125 from yesterday's close.  Mar 24 Soybeans closed at $11.6075/bushel, down $0.1825 from yesterday's close.  May 24 Soymeal closed at $336.7/short ton, down $5...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 12–16 February 2024 The global bear market was shocking but it did not have an equal effect on the Russian grain market, which is still living under previously signed contracts, tenders, etc. However, huge stocks along with a global bearish trend and the upcoming pl...

feed-grains soy-oilseeds wheat

Ukraine's Limited Choices

Much like U.S. farmers, Ukrainian producers prefer to plant the most profitable crops. This is especially true when considering Ukraine’s farmers are reportedly losing $50/MT on corn. The preference is to grow soybeans, and output of the oilseed increased nearly 27 percent in 2023. Howeve...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Leads CBOT Rally on Short-Covering, Value Buying

The CBOT turned sharply higher after the three-day weekend with wheat leading the way on a surge in buying interest. Paris wheat started the rally with contracts there rebounded from new contract lows, and that strength spilled over into CBOT and KCBT futures as well. While little clear motivat...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.1875/bushel, up $0.0225 from yesterday's close.  Mar 24 Wheat closed at $5.8275/bushel, up $0.2225 from yesterday's close.  Mar 24 Soybeans closed at $11.79/bushel, up $0.0675 from yesterday's close.  Mar 24 Soymeal closed at $347.6/short ton, up $2 from...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan’s Economic Coordination Committee approved the importation of wheat supplies for 2024 even with a forecasted record wheat harvest. It seems that there are concerns that due to very dry weather the f...

biofuel energy wheat

CFTC COT Report Analysis

The weekly CFTC report featured a few surprises, most notably the 11,000-contract net buying in the Chicago wheat market. Heading into the report, expectations were that it would show funds expanding short positions heading into the February AOF from USDA. Rather, funds were parging back shorts...

feed-grains soy-oilseeds wheat

Market Commentary: Rush for the Exit Continues; Cattle Surge on Higher Cash Trade

Long’s rush to the exit in CBOT futures continued Friday with the USDA’s Ag Outlook Forum (AOF) balance sheet projections weighing heavily on markets. March corn futures posted a new contract low in the first five minutes of the overnight trade on Friday and continued to post new lo...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.165/bushel, down $0.0125 from yesterday's close.  Mar 24 Wheat closed at $5.605/bushel, down $0.065 from yesterday's close.  Mar 24 Soybeans closed at $11.7225/bushel, up $0.1 from yesterday's close.  Mar 24 Soymeal closed at $345.6/short ton, up $6.1 fro...

soy-oilseeds

Oilseed Highlights: A Bounce Off Oversold but Still Bearish

The Market The oilseeds market remains bearish as South American crops progress more favorably and Chicago futures face a large American crop that is over-priced. There was a bounce-back on Friday after soybeans were oversold based on USDA’s Thursday Outlook report (see below); palm oil f...

feed-grains wheat soy-oilseeds

Market Commentary: The Terrible, Horrible, No Good Day, Very Bad Day

Not totally that bad if you were betting short, or like livestock. But let’s count the ways: New contract low in corn New contract low in soybean meal New contract low in HRW New contract low in HRS New contract low in Paris wheat What caused all of these exits? First and foremost was...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.1775/bushel, down $0.065 from yesterday's close.  Mar 24 Wheat closed at $5.67/bushel, down $0.185 from yesterday's close.  Mar 24 Soybeans closed at $11.6225/bushel, down $0.0825 from yesterday's close.  Mar 24 Soymeal closed at $339.5/short ton, down $3...

feed-grains soy-oilseeds wheat

Market Commentary: Bearish Long-Term Projections, Outlook Expectations Sink Grain Markets

The CBOT was sharply lower at mid-week with USDA issuing a bearish long-term outlook late Tuesday and traders looking for bearish numbers from the agency later this week. The USDA’s Ag Outlook Forum will be in Washington, D.C. this Thursday and Friday and will offer the agency’s fir...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.2425/bushel, down $0.065 from yesterday's close.  Mar 24 Wheat closed at $5.855/bushel, down $0.12 from yesterday's close.  Mar 24 Soybeans closed at $11.705/bushel, down $0.1575 from yesterday's close.  Mar 24 Soymeal closed at $343.3/short ton, down $1...

soy-oilseeds

No Over-Production of Soymeal

There are many different U.S. programs encouraging the research into, production of, and use of biodiesel and renewable biodiesel. The U.S. Energy Information Agency lists seven programs, nine laws and regulations, plus 21 incentives ranging from grants to loans to tax credits. However, the Ren...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 2–9 February 2024 The market remained bearish following the global bearish trend, huge stocks, and growing export duties. It’s not clear why the government would continue raising export duties in a bearish export market. The case with the feed barley duty make...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Falls as Inflation and U.S. Dollar Rise

Macroeconomic trade largely defined price action in the ag markets on Tuesday as higher-than-expected CPI inflation spooked markets. The U.S. CPI came in above expectations at 3.1 percent, which sent the U.S. dollar index sharply higher as it implies the Fed will have to keep interest rates hig...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.3075/bushel, up $0.0025 from yesterday's close.  Mar 24 Wheat closed at $5.975/bushel, up $0 from yesterday's close.  Mar 24 Soybeans closed at $11.8625/bushel, down $0.0675 from yesterday's close.  Mar 24 Soymeal closed at $344.8/short ton, down $4.1 fro...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION North Africa is said to be the largest wheat importing region in the world according to a recent report and the GRO Drought Index. Wheat import by the region in 2023/24 will be the highest in seven years with whea...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soybeans Firm in Early Week Trade; Russia Lowers “Suggested” Wheat Price

Corn, soybeans, and soymeal turned higher to start the week with markets bouncing from recent lows or recovering from early pushes to new lows. The Goldman roll concluded its fourth day on Monday, which helped drive some of the day’s trade, though roll volume was far below Friday’s...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.305/bushel, up $0.015 from yesterday's close.  Mar 24 Wheat closed at $5.975/bushel, up $0.0075 from yesterday's close.  Mar 24 Soybeans closed at $11.93/bushel, up $0.095 from yesterday's close.  Mar 24 Soymeal closed at $348.9/short ton, up $2.1 from ye...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.06/bushel, down $0.05 from yesterday's close.  May 24 Wheat closed at $5.7925/bushel, up $0.0125 from yesterday's close.  Mar 24 Soybeans closed at $11.4775/bushel, down $0.13 from yesterday's close.  May 24 Soymeal closed at $331.4/short ton, down $5.3 f...

livestock wheat soy-oilseeds

Market Commentary: CBOT Decline Continues while Stocks Rally; EPA Confirms Summer E15 Sales

The CBOT was mostly lower again on Thursday with funds retaining their bearish grip on the markets and driving futures into the red. Despite adjustments to South American crop expectations, corn and soybean markets are reacting to overall favorable production conditions and the looming crops th...

feed-grains soy-oilseeds wheat

Market Commentary: Corn Scores New Lows; CBOT to Remain Weak and Defensive

The CBOT resumed its downward trend on Wednesday with corn and soybeans abandoning any of the prior day’s strength while wheat futures wobbled but remained near Tuesday’s highs. Corn futures scored new contract lows with little fresh news available to offer support and favorable wea...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.11/bushel, down $0.0775 from yesterday's close.  May 24 Wheat closed at $5.78/bushel, down $0.0125 from yesterday's close.  Mar 24 Soybeans closed at $11.6075/bushel, down $0.1825 from yesterday's close.  May 24 Soymeal closed at $336.7/short ton, down $5...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 12–16 February 2024 The global bear market was shocking but it did not have an equal effect on the Russian grain market, which is still living under previously signed contracts, tenders, etc. However, huge stocks along with a global bearish trend and the upcoming pl...

feed-grains soy-oilseeds wheat

Ukraine's Limited Choices

Much like U.S. farmers, Ukrainian producers prefer to plant the most profitable crops. This is especially true when considering Ukraine’s farmers are reportedly losing $50/MT on corn. The preference is to grow soybeans, and output of the oilseed increased nearly 27 percent in 2023. Howeve...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Leads CBOT Rally on Short-Covering, Value Buying

The CBOT turned sharply higher after the three-day weekend with wheat leading the way on a surge in buying interest. Paris wheat started the rally with contracts there rebounded from new contract lows, and that strength spilled over into CBOT and KCBT futures as well. While little clear motivat...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.1875/bushel, up $0.0225 from yesterday's close.  Mar 24 Wheat closed at $5.8275/bushel, up $0.2225 from yesterday's close.  Mar 24 Soybeans closed at $11.79/bushel, up $0.0675 from yesterday's close.  Mar 24 Soymeal closed at $347.6/short ton, up $2 from...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Pakistan’s Economic Coordination Committee approved the importation of wheat supplies for 2024 even with a forecasted record wheat harvest. It seems that there are concerns that due to very dry weather the f...

biofuel energy wheat

CFTC COT Report Analysis

The weekly CFTC report featured a few surprises, most notably the 11,000-contract net buying in the Chicago wheat market. Heading into the report, expectations were that it would show funds expanding short positions heading into the February AOF from USDA. Rather, funds were parging back shorts...

feed-grains soy-oilseeds wheat

Market Commentary: Rush for the Exit Continues; Cattle Surge on Higher Cash Trade

Long’s rush to the exit in CBOT futures continued Friday with the USDA’s Ag Outlook Forum (AOF) balance sheet projections weighing heavily on markets. March corn futures posted a new contract low in the first five minutes of the overnight trade on Friday and continued to post new lo...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.165/bushel, down $0.0125 from yesterday's close.  Mar 24 Wheat closed at $5.605/bushel, down $0.065 from yesterday's close.  Mar 24 Soybeans closed at $11.7225/bushel, up $0.1 from yesterday's close.  Mar 24 Soymeal closed at $345.6/short ton, up $6.1 fro...

soy-oilseeds

Oilseed Highlights: A Bounce Off Oversold but Still Bearish

The Market The oilseeds market remains bearish as South American crops progress more favorably and Chicago futures face a large American crop that is over-priced. There was a bounce-back on Friday after soybeans were oversold based on USDA’s Thursday Outlook report (see below); palm oil f...

feed-grains wheat soy-oilseeds

Market Commentary: The Terrible, Horrible, No Good Day, Very Bad Day

Not totally that bad if you were betting short, or like livestock. But let’s count the ways: New contract low in corn New contract low in soybean meal New contract low in HRW New contract low in HRS New contract low in Paris wheat What caused all of these exits? First and foremost was...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.1775/bushel, down $0.065 from yesterday's close.  Mar 24 Wheat closed at $5.67/bushel, down $0.185 from yesterday's close.  Mar 24 Soybeans closed at $11.6225/bushel, down $0.0825 from yesterday's close.  Mar 24 Soymeal closed at $339.5/short ton, down $3...

feed-grains soy-oilseeds wheat

Market Commentary: Bearish Long-Term Projections, Outlook Expectations Sink Grain Markets

The CBOT was sharply lower at mid-week with USDA issuing a bearish long-term outlook late Tuesday and traders looking for bearish numbers from the agency later this week. The USDA’s Ag Outlook Forum will be in Washington, D.C. this Thursday and Friday and will offer the agency’s fir...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.2425/bushel, down $0.065 from yesterday's close.  Mar 24 Wheat closed at $5.855/bushel, down $0.12 from yesterday's close.  Mar 24 Soybeans closed at $11.705/bushel, down $0.1575 from yesterday's close.  Mar 24 Soymeal closed at $343.3/short ton, down $1...

soy-oilseeds

No Over-Production of Soymeal

There are many different U.S. programs encouraging the research into, production of, and use of biodiesel and renewable biodiesel. The U.S. Energy Information Agency lists seven programs, nine laws and regulations, plus 21 incentives ranging from grants to loans to tax credits. However, the Ren...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 2–9 February 2024 The market remained bearish following the global bearish trend, huge stocks, and growing export duties. It’s not clear why the government would continue raising export duties in a bearish export market. The case with the feed barley duty make...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Falls as Inflation and U.S. Dollar Rise

Macroeconomic trade largely defined price action in the ag markets on Tuesday as higher-than-expected CPI inflation spooked markets. The U.S. CPI came in above expectations at 3.1 percent, which sent the U.S. dollar index sharply higher as it implies the Fed will have to keep interest rates hig...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.3075/bushel, up $0.0025 from yesterday's close.  Mar 24 Wheat closed at $5.975/bushel, up $0 from yesterday's close.  Mar 24 Soybeans closed at $11.8625/bushel, down $0.0675 from yesterday's close.  Mar 24 Soymeal closed at $344.8/short ton, down $4.1 fro...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION North Africa is said to be the largest wheat importing region in the world according to a recent report and the GRO Drought Index. Wheat import by the region in 2023/24 will be the highest in seven years with whea...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soybeans Firm in Early Week Trade; Russia Lowers “Suggested” Wheat Price

Corn, soybeans, and soymeal turned higher to start the week with markets bouncing from recent lows or recovering from early pushes to new lows. The Goldman roll concluded its fourth day on Monday, which helped drive some of the day’s trade, though roll volume was far below Friday’s...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 24 Corn closed at $4.305/bushel, up $0.015 from yesterday's close.  Mar 24 Wheat closed at $5.975/bushel, up $0.0075 from yesterday's close.  Mar 24 Soybeans closed at $11.93/bushel, up $0.095 from yesterday's close.  Mar 24 Soymeal closed at $348.9/short ton, up $2.1 from ye...

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