World Perspectives

Soy & Oilseeds Recent Soy & Oilseeds Analysis

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Tunisian officials say the country has sufficient stocks of soft wheat, durum, and barley to cover all requirements until May 2022. Pakistan wheat flour prices have increased by about 15 percent due to the recent ban on the interprov...

feed-grains soy-oilseeds wheat

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...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Extends Losses; Corn, Soyoil Strengthen; Hogs Rally on ASF News

The CBOT was mostly lower in low-volume, pre-holiday trade. Monday is a holiday in the U.S. and the CBOT/CME (and WPI’s offices) will be closed. Notable developments for the day were the turnaround in corn and soyoil futures, which were juxtaposed against the continued technical weakness...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.9625/bushel, up $0.0875 from yesterday's close.  Mar 22 Wheat closed at $7.415/bushel, down $0.0525 from yesterday's close.  Mar 22 Soybeans closed at $13.6975/bushel, down $0.075 from yesterday's close.  Mar 22 Soymeal closed at $405.6/short ton, down $3...

feed-grains soy-oilseeds

Guessing La Niña

This year’s La Niña event has been categorized as historically a moderate one. The rains coming to parts of South America this weekend attest to it not being a historically strong event. However, this makes guessing its final impact on crops more challenging to assess. Another chal...

soy-oilseeds

Oilseeds Situation Update

Most of the current changes are on the supply side of the ledger. This week’s USDA WASDE has come and gone but its effects linger. The agency’s 7 percent increase in U.S. surplus soybeans stocks held more sway than its reduction in global carryover down to 95 MMT from the December e...

feed-grains soy-oilseeds wheat

Market Commentary: Definitively Lower

The market opened lower for grains and oilseeds and for most contracts that was the consistent direction of the day. The bearish tone of yesterday’s WASDE coupled with significant rain relief coming for South America prompted a shedding of the weather premium that had been building. ...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.875/bushel, down $0.115 from yesterday's close.  Mar 22 Wheat closed at $7.4675/bushel, down $0.11 from yesterday's close.  Mar 22 Soybeans closed at $13.7725/bushel, down $0.22 from yesterday's close.  Mar 22 Soymeal closed at $408.9/short ton, down $7.3...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for Dec 31, 2021 – Jan 6, 2022. Wheat:  Net sales of 264,400 metric tons (MT) for 2021/2022 were up noticeably from the previous week, but down 20 percent from the prior 4-week average.  Corn:  Net sales of 457,700 MT for 2021/2022 were up 79 percent from the p...

feed-grains soy-oilseeds wheat

Market Commentary: WASDE Cuts S. American Crops, Raises U.S. Carry-Out; Report Whipsaws Soybeans

Today’s CBOT trade was all about the WASDE with markets trading quietly lower before the report’s noon ET release. The report, while mostly in-line with expectations, elicited a swift, selloff reaction from the markets after its release, as the USDA increased ending stocks for all t...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.99/bushel, down $0.02 from yesterday's close.  Mar 22 Wheat closed at $7.5775/bushel, down $0.125 from yesterday's close.  Mar 22 Soybeans closed at $13.9925/bushel, up $0.1275 from yesterday's close.  Mar 22 Soymeal closed at $416.2/short ton, up $3.1 fr...

soy-oilseeds

WASDE Soyoil

U.S. soybean oil price forecast is unchanged at 65.0 cents per pound...

soy-oilseeds

WASDE Soymeal

U.S. soybean meal price is projected at $375 per short ton, up 45 dollars...

soy-oilseeds

WASDE Soybeans

U.S. soybean ending stocks for 2021/22 are raised 10 million bushels to 350 million. The U.S. season-average soybean price for 2021/22 is forecast at $12.60 per bushel, up 50 cents...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Macroeconomics Food Inflation Reverses Course, Falls in December With pork prices continuing to remain well below their averages from a year ago, food costs on aggregate fell by 1.2 percent in December. That reverses course from November when food inflation climbed by 1.6 percent, the first upt...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 3-7 January 2022 The first week of January was holiday season, as usual, so it was impossible to register any changes on the Russian grain market. Due to the political situation in Kazakhstan, the Russian ruble got weaker and domestic prices expressed in U.S. dollar decre...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Firmer Heading into WASDE; Cattle Rally from Technical Support

The CBOT turned higher on the last day of pre-WASDE trading as continued short covering in wheat and a bullish response to CONAB’s new production data drove the markets. Funds are long corn and soybeans heading into the USDA’s January WASDE report tomorrow and have been actively cov...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.01/bushel, up $0.0125 from yesterday's close.  Mar 22 Wheat closed at $7.7025/bushel, up $0.0825 from yesterday's close.  Mar 22 Soybeans closed at $13.865/bushel, up $0.0175 from yesterday's close.  Mar 22 Soymeal closed at $413.1/short ton, down $3.2 fr...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  MEA region grain importers will face lower Russian export quotas in 2022 – 8 MMT of wheat and a total of 3 MMT for barley, corn, and rye. The initial quota period is from 15 February to 30 June and is a decrease over the origin...

soy-oilseeds

Three-Year Rebuild

The price of palm oil has been rising since the start of 2021, reaching a local price roughly double the average of the previous dozen years. Production in 2021 was down around 5 percent from the historical average, but the lowest since 2016.  Malaysian palm oil exports were down nearly 11...

feed-grains soy-oilseeds wheat

Market Commentary: Spreads Reversed Ahead of WASDE; Livestock Futures Sharply Lower

CBTO trade on Monday was all about positioning for Wednesday’s WASDE report from USDA. Traders took out some of the weather premium that was bid into soybean and corn futures while they unwound long soy/corn versus wheat spreads. Position squaring and spread trade was dominant today with...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.9975/bushel, down $0.07 from yesterday's close.  Mar 22 Wheat closed at $7.62/bushel, up $0.035 from yesterday's close.  Mar 22 Soybeans closed at $13.8475/bushel, down $0.255 from yesterday's close.  Mar 22 Soymeal closed at $416.3/short ton, down $8.7 f...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina’s Wheat/Corn Trust The Argentine government is being creative in trying to control inflation rates. They are trying to control local wheat and corn prices by creating a “trust fund” for domestic market consumption. Exporters will have to contribute about $150 million...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Ukraine’s grain exports for MY 2021/22 total 33.5 MMT, up 23 percent from the same period last year. Of that, wheat accounts for 24.5 MMT with corn exports totaling 30.9 MMT and barely totaling 5.2 MMT.  Milling Wheat  The two biggest wheat market surprises t...

feed-grains soy-oilseeds wheat

Market Commentary: Soybeans, Soymeal Rally on Technical and Index Fund Buying; Wheat Posts Chart Reversal

The CBOT turned higher heading into the weekend with soybeans and soymeal posting big rallies near mid-day. Soybeans and soymeal pushed above technical resistance and uncovered a wealth of buy-stops that carried the markets higher into the close. Market chatter suggests index funds started thei...

feed-grains livestock soy-oilseeds

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...

soy-oilseeds

Oilseed Situation Update

As the trading week closed out, the soy complex incurred another series of impressive gains largely driven by production uncertainties in South America. The CFTC reports that speculators increased their net long positions in soybeans in the week to 4 January by 5,140 contracts to a total of 85,...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.0675/bushel, up $0.03 from yesterday's close.  Mar 22 Wheat closed at $7.585/bushel, up $0.125 from yesterday's close.  Mar 22 Soybeans closed at $14.1025/bushel, up $0.23 from yesterday's close.  Mar 22 Soymeal closed at $425/short ton, up $14 from yeste...

feed-grains soy-oilseeds wheat

Market Commentary: Topsy Turvey

Corn and cattle opened down but settled up; soyoil opened up but closed down with the rest of the complex; and wheat never saw the light of day. The rationale for the doldrums at the open was news of a March increase in the Federal Funds rate. That would reduce liquidity and inflation, starving...

feed-grains wheat soy-oilseeds

Summary of Futures

Mar 22 Corn closed at $6.0375/bushel, up $0.015 from yesterday's close.  Mar 22 Wheat closed at $7.46/bushel, down $0.1475 from yesterday's close.  Mar 22 Soybeans closed at $13.8725/bushel, down $0.075 from yesterday's close.  Mar 22 Soymeal closed at $411/short ton, down $2.4 f...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Major Live Hog Companies Target Increased Capacity in 2022 Even with live hog prices down year-on-year by 54.8 percent and the corn-hog ratio in the dumpster, China’s “Pork Concept Companies” are pursuing market dominance. According to the latest corporate announceme...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for December 24-30, 2021 Wheat:  Net sales of 48,600 metric tons (MT) for 2021/2022--a marketing-year low—were down 76 percent from the previous week and 87 percent from the prior 4-week average. Corn:   Net sales of 256,100 MT for 2021/2022 were down 80 percen...

feed-grains soy-oilseeds wheat

Market Commentary: March Soybeans Falter at $14.00; Corn, Wheat Lower Amid Fund Selling

The CBOT traded a mixed day with wheat and corn futures posting losses on moderate fund selling and buyers’ more cautious approach amid increased volatility. The soy complex, however, posted another day of strong gains with soyoil becoming the upside leader on a technically bullish day. S...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.0225/bushel, down $0.0725 from yesterday's close.  Mar 22 Wheat closed at $7.6075/bushel, down $0.0925 from yesterday's close.  Mar 22 Soybeans closed at $13.9475/bushel, up $0.05 from yesterday's close.  Mar 22 Soymeal closed at $413.4/short ton, down $1...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 27-31 December 2021 The last week of December on the Russian grain market was very calm. General trends were downward. Market players are not happy with decreasing prices on the world markets and the prospect of further growth of export duties.   Export milling...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.095/bushel, up $0.2025 from yesterday's close.  Mar 22 Wheat closed at $7.7/bushel, up $0.12 from yesterday's close.  Mar 22 Soybeans closed at $13.8975/bushel, up $0.3425 from yesterday's close.  Mar 22 Soymeal closed at $414.7/short ton, up $3.4 from ye...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  Tunisian officials say the country has sufficient stocks of soft wheat, durum, and barley to cover all requirements until May 2022. Pakistan wheat flour prices have increased by about 15 percent due to the recent ban on the interprov...

feed-grains soy-oilseeds wheat

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...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Extends Losses; Corn, Soyoil Strengthen; Hogs Rally on ASF News

The CBOT was mostly lower in low-volume, pre-holiday trade. Monday is a holiday in the U.S. and the CBOT/CME (and WPI’s offices) will be closed. Notable developments for the day were the turnaround in corn and soyoil futures, which were juxtaposed against the continued technical weakness...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.9625/bushel, up $0.0875 from yesterday's close.  Mar 22 Wheat closed at $7.415/bushel, down $0.0525 from yesterday's close.  Mar 22 Soybeans closed at $13.6975/bushel, down $0.075 from yesterday's close.  Mar 22 Soymeal closed at $405.6/short ton, down $3...

feed-grains soy-oilseeds

Guessing La Niña

This year’s La Niña event has been categorized as historically a moderate one. The rains coming to parts of South America this weekend attest to it not being a historically strong event. However, this makes guessing its final impact on crops more challenging to assess. Another chal...

soy-oilseeds

Oilseeds Situation Update

Most of the current changes are on the supply side of the ledger. This week’s USDA WASDE has come and gone but its effects linger. The agency’s 7 percent increase in U.S. surplus soybeans stocks held more sway than its reduction in global carryover down to 95 MMT from the December e...

feed-grains soy-oilseeds wheat

Market Commentary: Definitively Lower

The market opened lower for grains and oilseeds and for most contracts that was the consistent direction of the day. The bearish tone of yesterday’s WASDE coupled with significant rain relief coming for South America prompted a shedding of the weather premium that had been building. ...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.875/bushel, down $0.115 from yesterday's close.  Mar 22 Wheat closed at $7.4675/bushel, down $0.11 from yesterday's close.  Mar 22 Soybeans closed at $13.7725/bushel, down $0.22 from yesterday's close.  Mar 22 Soymeal closed at $408.9/short ton, down $7.3...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for Dec 31, 2021 – Jan 6, 2022. Wheat:  Net sales of 264,400 metric tons (MT) for 2021/2022 were up noticeably from the previous week, but down 20 percent from the prior 4-week average.  Corn:  Net sales of 457,700 MT for 2021/2022 were up 79 percent from the p...

feed-grains soy-oilseeds wheat

Market Commentary: WASDE Cuts S. American Crops, Raises U.S. Carry-Out; Report Whipsaws Soybeans

Today’s CBOT trade was all about the WASDE with markets trading quietly lower before the report’s noon ET release. The report, while mostly in-line with expectations, elicited a swift, selloff reaction from the markets after its release, as the USDA increased ending stocks for all t...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.99/bushel, down $0.02 from yesterday's close.  Mar 22 Wheat closed at $7.5775/bushel, down $0.125 from yesterday's close.  Mar 22 Soybeans closed at $13.9925/bushel, up $0.1275 from yesterday's close.  Mar 22 Soymeal closed at $416.2/short ton, up $3.1 fr...

soy-oilseeds

WASDE Soyoil

U.S. soybean oil price forecast is unchanged at 65.0 cents per pound...

soy-oilseeds

WASDE Soymeal

U.S. soybean meal price is projected at $375 per short ton, up 45 dollars...

soy-oilseeds

WASDE Soybeans

U.S. soybean ending stocks for 2021/22 are raised 10 million bushels to 350 million. The U.S. season-average soybean price for 2021/22 is forecast at $12.60 per bushel, up 50 cents...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Macroeconomics Food Inflation Reverses Course, Falls in December With pork prices continuing to remain well below their averages from a year ago, food costs on aggregate fell by 1.2 percent in December. That reverses course from November when food inflation climbed by 1.6 percent, the first upt...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 3-7 January 2022 The first week of January was holiday season, as usual, so it was impossible to register any changes on the Russian grain market. Due to the political situation in Kazakhstan, the Russian ruble got weaker and domestic prices expressed in U.S. dollar decre...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Firmer Heading into WASDE; Cattle Rally from Technical Support

The CBOT turned higher on the last day of pre-WASDE trading as continued short covering in wheat and a bullish response to CONAB’s new production data drove the markets. Funds are long corn and soybeans heading into the USDA’s January WASDE report tomorrow and have been actively cov...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.01/bushel, up $0.0125 from yesterday's close.  Mar 22 Wheat closed at $7.7025/bushel, up $0.0825 from yesterday's close.  Mar 22 Soybeans closed at $13.865/bushel, up $0.0175 from yesterday's close.  Mar 22 Soymeal closed at $413.1/short ton, down $3.2 fr...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA  MEA region grain importers will face lower Russian export quotas in 2022 – 8 MMT of wheat and a total of 3 MMT for barley, corn, and rye. The initial quota period is from 15 February to 30 June and is a decrease over the origin...

soy-oilseeds

Three-Year Rebuild

The price of palm oil has been rising since the start of 2021, reaching a local price roughly double the average of the previous dozen years. Production in 2021 was down around 5 percent from the historical average, but the lowest since 2016.  Malaysian palm oil exports were down nearly 11...

feed-grains soy-oilseeds wheat

Market Commentary: Spreads Reversed Ahead of WASDE; Livestock Futures Sharply Lower

CBTO trade on Monday was all about positioning for Wednesday’s WASDE report from USDA. Traders took out some of the weather premium that was bid into soybean and corn futures while they unwound long soy/corn versus wheat spreads. Position squaring and spread trade was dominant today with...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $5.9975/bushel, down $0.07 from yesterday's close.  Mar 22 Wheat closed at $7.62/bushel, up $0.035 from yesterday's close.  Mar 22 Soybeans closed at $13.8475/bushel, down $0.255 from yesterday's close.  Mar 22 Soymeal closed at $416.3/short ton, down $8.7 f...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Argentina’s Wheat/Corn Trust The Argentine government is being creative in trying to control inflation rates. They are trying to control local wheat and corn prices by creating a “trust fund” for domestic market consumption. Exporters will have to contribute about $150 million...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  Ukraine’s grain exports for MY 2021/22 total 33.5 MMT, up 23 percent from the same period last year. Of that, wheat accounts for 24.5 MMT with corn exports totaling 30.9 MMT and barely totaling 5.2 MMT.  Milling Wheat  The two biggest wheat market surprises t...

feed-grains soy-oilseeds wheat

Market Commentary: Soybeans, Soymeal Rally on Technical and Index Fund Buying; Wheat Posts Chart Reversal

The CBOT turned higher heading into the weekend with soybeans and soymeal posting big rallies near mid-day. Soybeans and soymeal pushed above technical resistance and uncovered a wealth of buy-stops that carried the markets higher into the close. Market chatter suggests index funds started thei...

feed-grains livestock soy-oilseeds

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...

soy-oilseeds

Oilseed Situation Update

As the trading week closed out, the soy complex incurred another series of impressive gains largely driven by production uncertainties in South America. The CFTC reports that speculators increased their net long positions in soybeans in the week to 4 January by 5,140 contracts to a total of 85,...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.0675/bushel, up $0.03 from yesterday's close.  Mar 22 Wheat closed at $7.585/bushel, up $0.125 from yesterday's close.  Mar 22 Soybeans closed at $14.1025/bushel, up $0.23 from yesterday's close.  Mar 22 Soymeal closed at $425/short ton, up $14 from yeste...

feed-grains soy-oilseeds wheat

Market Commentary: Topsy Turvey

Corn and cattle opened down but settled up; soyoil opened up but closed down with the rest of the complex; and wheat never saw the light of day. The rationale for the doldrums at the open was news of a March increase in the Federal Funds rate. That would reduce liquidity and inflation, starving...

feed-grains wheat soy-oilseeds

Summary of Futures

Mar 22 Corn closed at $6.0375/bushel, up $0.015 from yesterday's close.  Mar 22 Wheat closed at $7.46/bushel, down $0.1475 from yesterday's close.  Mar 22 Soybeans closed at $13.8725/bushel, down $0.075 from yesterday's close.  Mar 22 Soymeal closed at $411/short ton, down $2.4 f...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Livestock Major Live Hog Companies Target Increased Capacity in 2022 Even with live hog prices down year-on-year by 54.8 percent and the corn-hog ratio in the dumpster, China’s “Pork Concept Companies” are pursuing market dominance. According to the latest corporate announceme...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for December 24-30, 2021 Wheat:  Net sales of 48,600 metric tons (MT) for 2021/2022--a marketing-year low—were down 76 percent from the previous week and 87 percent from the prior 4-week average. Corn:   Net sales of 256,100 MT for 2021/2022 were down 80 percen...

feed-grains soy-oilseeds wheat

Market Commentary: March Soybeans Falter at $14.00; Corn, Wheat Lower Amid Fund Selling

The CBOT traded a mixed day with wheat and corn futures posting losses on moderate fund selling and buyers’ more cautious approach amid increased volatility. The soy complex, however, posted another day of strong gains with soyoil becoming the upside leader on a technically bullish day. S...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.0225/bushel, down $0.0725 from yesterday's close.  Mar 22 Wheat closed at $7.6075/bushel, down $0.0925 from yesterday's close.  Mar 22 Soybeans closed at $13.9475/bushel, up $0.05 from yesterday's close.  Mar 22 Soymeal closed at $413.4/short ton, down $1...

feed-grains soy-oilseeds wheat

Black Sea Regional Analysis

Russian Grain Markets: 27-31 December 2021 The last week of December on the Russian grain market was very calm. General trends were downward. Market players are not happy with decreasing prices on the world markets and the prospect of further growth of export duties.   Export milling...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 22 Corn closed at $6.095/bushel, up $0.2025 from yesterday's close.  Mar 22 Wheat closed at $7.7/bushel, up $0.12 from yesterday's close.  Mar 22 Soybeans closed at $13.8975/bushel, up $0.3425 from yesterday's close.  Mar 22 Soymeal closed at $414.7/short ton, up $3.4 from ye...

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