World Perspectives

Soy & Oilseeds Recent Soy & Oilseeds Analysis

feed-grains soy-oilseeds wheat

Market Commentary: Defensive into the Holiday

With crops in short supply and weather far from perfect, traders did not want to be short corn, wheat, and soybeans going into a three-day hiatus in trading. While today’s gains were modest, July soybeans ended the week up 27 cents, while July corn is down 1.5 cents, and July SRW lost 11...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7725/bushel, up $0.1225 from yesterday's close.  Jul 22 Wheat closed at $11.575/bushel, up $0.1425 from yesterday's close.  Jul 22 Soybeans closed at $17.3225/bushel, up $0.0575 from yesterday's close.  Jul 22 Soymeal closed at $432.3/short ton, up $4.1 f...

soy-oilseeds

Oilseeds Highlights: Troubles and Opportunities

Troubled Northern Beans There are nearly weekly reports of new U.S. soybean crushing plants being built to accommodate the policy-driven demand for renewable diesel. If not for the policy, it is unlikely that two new plants would be built in North Dakota where currently 90 percent of the beans...

feed-grains soy-oilseeds wheat

Market Commentary: Truth Telling and Caution

An overly cautious market let go of the tease that Russia might negotiate the exit of Ukrainian grain. Vladimir Putin cannot abide the UN’s wishes because it would betray his contention that it is Western sanctions that are causing the food security problem. There was also some positionin...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.65/bushel, down $0.0725 from yesterday's close.  Jul 22 Wheat closed at $11.4325/bushel, down $0.05 from yesterday's close.  Jul 22 Soybeans closed at $17.265/bushel, up $0.455 from yesterday's close.  Jul 22 Soymeal closed at $428.2/short ton, up $4 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for May 13-19, 2022. Wheat:  Net sales reductions of 2,300 metric tons (MT) for 2021/2022--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average.  Corn:  Net sales of 151,600 MT for 2021/2022--a marketing-year low--were d...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Falls Early on Russian Propaganda, Recovers to End Near Day’s High

The CBOT turned lower again on Wednesday with wheat leading the way on headlines that Russia may establish export corridors for Ukrainian grain/ag products. Russia’s Deputy Foreign Minister indicated the country is talking with the UN on potential food export corridors in the Black Sea, w...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Public Health COVID Deaths Fall to One Per Week, Lockdown Damage Deepens Through yesterday, data from Johns Hopkins Coronavirus Center indicate the trailing seven-day averages in China at 4,897 new COVID-19 cases and one related death. This marks the lowest rate for new cases since the end of t...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7225/bushel, up $0.005 from yesterday's close.  Jul 22 Wheat closed at $11.4825/bushel, down $0.065 from yesterday's close.  Jul 22 Soybeans closed at $16.81/bushel, down $0.12 from yesterday's close.  Jul 22 Soymeal closed at $424.2/short ton, down $2.9...

feed-grains soy-oilseeds

Black Sea Regional Analysis

Russian Grains Markets: 16-20 May 2022 As of 17 May, spring planting was in line with last year, yet still behind 2020 by 40 percent and 2019 by 30 percent, according to the Russian Ministry of Agriculture. Earlier in the season the government was trying to stabilize prices for inputs and banne...

feed-grains soy-oilseeds wheat

Market Commentary: Corn Falls as China Approves Brazilian Imports; Wheat Falls on Technical Selling, Acreage Switch Fears

The CBOT waivered again on Tuesday with corn and wheat posting losses for the day while soybeans firmed once again. News that China is likely to soon approve an agreement on phytosanitary conditions to import corn from Brazil put corn on the defensive for the day. Moreover, corn and wheat both...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7175/bushel, down $0.145 from yesterday's close.  Jul 22 Wheat closed at $11.5475/bushel, down $0.3525 from yesterday's close.  Jul 22 Soybeans closed at $16.93/bushel, up $0.06 from yesterday's close.  Jul 22 Soymeal closed at $427.1/short ton, up $4.6 f...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Central Bank has increased interest rates by 2 percent to a maximum of 12.25 percent as a measure to control inflation that has been complicated by the Russia/Ukraine “tensions” and relat...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.8625/bushel, up $0.075 from yesterday's close.  Jul 22 Wheat closed at $11.9/bushel, up $0.2125 from yesterday's close.  Jul 22 Soybeans closed at $16.87/bushel, down $0.1825 from yesterday's close.  Jul 22 Soymeal closed at $422.5/short ton, down $7.4 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Rally as Russia Rejects Ukrainian Export Corridors; U.S. Corn, Soy Planting Makes Strong Progress

CBOT grains posted slight gains for the day while the soy complex worked its way lower as traders unwound long grain/short soy spreads that were placed last week. Wheat moved higher on news that Russia will not allow the export of Ukrainian grain via the Black Sea unless NATO suspends its econo...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 23 May)

Update for 23 May 2022:  If you don't see the app on the WPI homepage, you can always find it here: https://www.worldperspectives.com/articles/wpi-crop-progress-app The app contains a large volume of data, so please be patient while it loads.  Also, if you have any feedback about the...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Corn Currently, Argentina’s corn harvest is 27.4 percent complete after advancing another 1 percent last week. The harvest is significantly delayed compared to recent years, primarily due to high moisture content of the grain and farmers’ focus on harvesting soybeans first. The grea...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  The European Parliament approved duty-free imports of agricultural products from Ukraine for a one-year period. The U.S. is reportedly considering lifting a ban in potassium fertilizer from Belarus if the country will allow the export of Ukrainian ag products through to Lith...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Falls Despite Low KS Yields; Bullish Outlook for Grains, Oilseeds; Bearish Cattle Report

The CBOT traded an odd day on Friday with wheat futures selling off sharply despite private estimates of a Kansas HRW crop nearly 10 Mbu below USDA’s estimate. Even so, fund liquidation and profit taking was the theme of the day and wheat ended 30-40 cents lower. The corn market traded si...

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

Summary of Futures

Jul 22 Corn closed at $7.7875/bushel, down $0.045 from yesterday's close.  Jul 22 Wheat closed at $11.6875/bushel, down $0.3175 from yesterday's close.  Jul 22 Soybeans closed at $17.0525/bushel, up $0.1475 from yesterday's close.  Jul 22 Soymeal closed at $429.9/short ton, up $4...

soy-oilseeds

Oilseeds Highlights – Forecast is Momentum

Soybeans added almost 59 cents/bushel this week and closed back above $17/bushel indicating demand remains strong even as carryover is predicted to rise. Soyoil gained 1.4 cents today to close at 80.95 cents/pound despite Indonesia reopening palm oil sales on Monday. Jakarta was pressured by de...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for May 6-12, 2022 Wheat:  Net sales of 8,500 metric tons (MT) for 2021/2022--a marketing-year low--were down 40 percent from the previous week and 82 percent from the prior 4-week average. Corn:  Net sales of 435,300 MT for 2021/2022 were up noticeably from the previous...

feed-grains soy-oilseeds wheat

Market Commentary – Unsettled but Not Rudderless

Commodity traders should be grateful they are not equity traders. The broader economy presents less certainty than agricultural balance sheets that will take time to rebalance. Russia is trying to exploit food insecurity by offering to allow Ukrainian exports provided sanctions are dropped. Wes...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.8325/bushel, up $0.0175 from yesterday's close.  Jul 22 Wheat closed at $12.005/bushel, down $0.3025 from yesterday's close.  Jul 22 Soybeans closed at $16.905/bushel, up $0.2775 from yesterday's close.  Jul 22 Soymeal closed at $425.3/short ton, up $11.3...

feed-grains soy-oilseeds wheat

Market Commentary: Inflation Sparks Macro Market and CBOT Selloff, N. Kansas Wheat Yields at 39.5 BPA

The CBOT was sharply lower for the day with corn and soyoil breaking technical support levels while soybeans pulled back but maintained their recent trading range(s). Wheat futures were 40+ cents lower but still only marked inside days on their charts – a testament to the strength and vol...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Public Health Case Count Falls Further, Economic Impact Worsens The trailing seven-day average for new COVID-19 cases and related deaths has continued to decrease according to data from Johns Hopkins Coronavirus Resource Center. Through Saturday, new cases for the previous seven days averaged 7...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.815/bushel, down $0.1925 from yesterday's close.  Jul 22 Wheat closed at $12.3075/bushel, down $0.4675 from yesterday's close.  Jul 22 Soybeans closed at $16.6275/bushel, down $0.1525 from yesterday's close.  Jul 22 Soymeal closed at $414/short ton, up $2...

feed-grains soy-oilseeds wheat

Wheat Weighs on Other Crops

Global food security is supposed to be broadly at risk but acute tightness in grain stocks is more limited to wheat. Global rice stocks are about the same as in 2020/21 yet rice prices are 23 percent higher this year. Similarly, world soybean stocks will be about the same as in 2020/21 and will...

feed-grains wheat soy-oilseeds

Black Sea Regional Analysis

Russian Grain Markets: 9-13 May 2022 Most businesses were closed from 1-9 May as Russians celebrated Soviet holidays. Trade has now resumed and there is a bearish mood on all fronts. Exporters decreased their interest in the Black Sea ports and local currency strengthened thus solidifying the b...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Scores New Highs; Soybeans Rally on China Buying Rumors; Cattle Fall on Weak Cash Trade

The CBOT traded a generally bullish day with wheat futures forging a classic bullish day on the charts. Wheat futures opened higher, traded sharply lower to test support in yesterday’s chart gap, then settled higher after forging new contract highs. World wheat risks abound, and the only...

feed-grains wheat soy-oilseeds

Hunger Remains a Distribution Problem

World leaders express great concern that the level of world food insecurity is worsening under the weight of the Russian war on Ukraine. Then there are the multitude of different characterizations of the problem: food insecurity, hunger, undernourishment, etc. To the extent that it has worsened...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $8.0075/bushel, down $0.0875 from yesterday's close.  Jul 22 Wheat closed at $12.775/bushel, up $0.3 from yesterday's close.  Jul 22 Soybeans closed at $16.78/bushel, up $0.215 from yesterday's close.  Jul 22 Soymeal closed at $411.8/short ton, down $1.8 fro...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $8.07/bushel, down $0.025 from yesterday's close.  Jul 22 Wheat closed at $12.67/bushel, up $0.195 from yesterday's close.  Jul 22 Soybeans closed at $16.5425/bushel, down $0.0225 from yesterday's close.  Jul 22 Soymeal closed at $414/short ton, up $0.4 from...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Limit-Up on India’s Export Ban; Corn Rallies on Brazilian Drought/Frost Risk

Over the weekend, India announced a ban on wheat exports following the massive heat waves that have severely hurt the country’s yields. Before the ban, India was expected to be a marginal but significant – especially this year – exporter of about 10 MMT. USDA’s May WASDE...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Wheat Amid controversy and conflicting opinions, the Argentine government authorized the planting and commercialization of transgenic (genetically modified, or GM) wheat - Bioceres’s HB4 variety. Most of the concerns against the authorization are not about consumption of GM products, but...

wheat feed-grains soy-oilseeds

European Market Analysis

Regional News  Drought in Europe is becoming increasingly concerning with projections for EU wheat yields deteriorating. Areas of western Europe and the Baltics have received as much as 50 mm of rain less than normal by this date with the drought affecting a wide swath of Europe from Spain...

soy-oilseeds

WASDE Soyoil

SOYOIL:  USDA's outlook is for global oilseed production in 2022/23 to be 647.1 million tons, rising 50.3 million from last marketing year when droughts impacted South American soybean production and the Canadian canola crop.  U.S. soybean oil prices are forecast to average 70 cents p...

soy-oilseeds

WASDE Soymeal

SOYMEAL: USDA’s outlooks is for the U.S. soybean crush in 2022/23 to be 2.26 billion bushels, up 40 million from the 2021/22 forecast.  Domestic soybean meal disappearance is forecast to increase 2 percent from 2021/22 with low soybean meal prices relative to corn.  U.S. soybean...

soy-oilseeds

WASDE Soybeans

SOYBEANS:  USDA’s outlook is that the U.S. soybean crop in 2022/23 will be at 4.64 billion bushels, up 5 percent from last year.  U.S. ending stocks for 2022/23 are projected at 310 million bushels, up 75 million from the revised 2021/22 forecast. The 2022/23 U.S. season-average...

feed-grains soy-oilseeds wheat

Market Commentary: Paris, KC, Chicago Wheat Score New Highs; Soybeans Rally as China Buys

The CBOT was sharply higher in trade that continued the bullish reaction to Thursday’s WASDE report. All three wheat classes and new crop corn futures scored new contract highs, though CBOT wheat and corn pulled back to post modest losses for the day. Soybeans rallied sharply and are movi...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.8125/bushel, down $0.1025 from yesterday's close.  Jul 22 Wheat closed at $11.775/bushel, down $0.0125 from yesterday's close.  Jul 22 Soybeans closed at $16.465/bushel, up $0.3275 from yesterday's close.  Jul 22 Soymeal closed at $409.3/short ton, up $13...

soy-oilseeds

Oilseeds Highlights: Their Inexorable Rise Continues

WASDE Key Points Everything in oilseeds world goes higher: Global oilseed production at 647 MMT (+8 percent). Global soymeal production (4.25 percent) and exports (3.08 percent). Global soyoil production (3.9 percent) and exports (4 percent). U.S. soybean ending stocks (32 percent) and global...

feed-grains soy-oilseeds wheat

Market Commentary – USDA Joins the Running of the Bulls

Poor spring planting conditions forced USDA to throw its usual cautiousness to the wind as the May WASDE affirmed a bull market. The market firmed ahead of the release as thoughts of buying a dip evaporated and instead wheat skyrocketed. Corn and soybeans remain down for the past five trading s...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.915/bushel, up $0.03 from yesterday's close.  Jul 22 Wheat closed at $11.7875/bushel, up $0.6575 from yesterday's close.  Jul 22 Soybeans closed at $16.1375/bushel, up $0.07 from yesterday's close.  Jul 22 Soymeal closed at $396/short ton, down $1.9 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for April 29-May 5, 2022.  Wheat:  Net sales of 14,100 metric tons (MT) for 2021/2022--a marketing-year low--were down 88 percent from the previous week and 79 percent from the prior 4-week average. Corn:  Net sales of 192,700 MT for 2021/2022--a marketing-year low--...

feed-grains soy-oilseeds wheat

Market Commentary: Risk-On Pre-WASDE Trade; Wheat Rallies on Too Dry/Too Wet Forecast; Inflation Drives Fund Buying

The CBOT was higher the day before the May WASDE with traders turning more bullish amid persistently challenging weather forecasts for the world’s major crop producers. Moreover, U.S. economic data sent funds looking for assets in which to hedge inflation risks, which meant an inflow of s...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.885/bushel, up $0.1325 from yesterday's close.  Jul 22 Wheat closed at $11.13/bushel, up $0.2025 from yesterday's close.  Jul 22 Soybeans closed at $16.0675/bushel, up $0.145 from yesterday's close.  Jul 22 Soymeal closed at $397.9/short ton, down $3.6 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Defensive into the Holiday

With crops in short supply and weather far from perfect, traders did not want to be short corn, wheat, and soybeans going into a three-day hiatus in trading. While today’s gains were modest, July soybeans ended the week up 27 cents, while July corn is down 1.5 cents, and July SRW lost 11...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7725/bushel, up $0.1225 from yesterday's close.  Jul 22 Wheat closed at $11.575/bushel, up $0.1425 from yesterday's close.  Jul 22 Soybeans closed at $17.3225/bushel, up $0.0575 from yesterday's close.  Jul 22 Soymeal closed at $432.3/short ton, up $4.1 f...

soy-oilseeds

Oilseeds Highlights: Troubles and Opportunities

Troubled Northern Beans There are nearly weekly reports of new U.S. soybean crushing plants being built to accommodate the policy-driven demand for renewable diesel. If not for the policy, it is unlikely that two new plants would be built in North Dakota where currently 90 percent of the beans...

feed-grains soy-oilseeds wheat

Market Commentary: Truth Telling and Caution

An overly cautious market let go of the tease that Russia might negotiate the exit of Ukrainian grain. Vladimir Putin cannot abide the UN’s wishes because it would betray his contention that it is Western sanctions that are causing the food security problem. There was also some positionin...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.65/bushel, down $0.0725 from yesterday's close.  Jul 22 Wheat closed at $11.4325/bushel, down $0.05 from yesterday's close.  Jul 22 Soybeans closed at $17.265/bushel, up $0.455 from yesterday's close.  Jul 22 Soymeal closed at $428.2/short ton, up $4 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for May 13-19, 2022. Wheat:  Net sales reductions of 2,300 metric tons (MT) for 2021/2022--a marketing-year low--were down noticeably from the previous week and from the prior 4-week average.  Corn:  Net sales of 151,600 MT for 2021/2022--a marketing-year low--were d...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Falls Early on Russian Propaganda, Recovers to End Near Day’s High

The CBOT turned lower again on Wednesday with wheat leading the way on headlines that Russia may establish export corridors for Ukrainian grain/ag products. Russia’s Deputy Foreign Minister indicated the country is talking with the UN on potential food export corridors in the Black Sea, w...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Public Health COVID Deaths Fall to One Per Week, Lockdown Damage Deepens Through yesterday, data from Johns Hopkins Coronavirus Center indicate the trailing seven-day averages in China at 4,897 new COVID-19 cases and one related death. This marks the lowest rate for new cases since the end of t...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7225/bushel, up $0.005 from yesterday's close.  Jul 22 Wheat closed at $11.4825/bushel, down $0.065 from yesterday's close.  Jul 22 Soybeans closed at $16.81/bushel, down $0.12 from yesterday's close.  Jul 22 Soymeal closed at $424.2/short ton, down $2.9...

feed-grains soy-oilseeds

Black Sea Regional Analysis

Russian Grains Markets: 16-20 May 2022 As of 17 May, spring planting was in line with last year, yet still behind 2020 by 40 percent and 2019 by 30 percent, according to the Russian Ministry of Agriculture. Earlier in the season the government was trying to stabilize prices for inputs and banne...

feed-grains soy-oilseeds wheat

Market Commentary: Corn Falls as China Approves Brazilian Imports; Wheat Falls on Technical Selling, Acreage Switch Fears

The CBOT waivered again on Tuesday with corn and wheat posting losses for the day while soybeans firmed once again. News that China is likely to soon approve an agreement on phytosanitary conditions to import corn from Brazil put corn on the defensive for the day. Moreover, corn and wheat both...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.7175/bushel, down $0.145 from yesterday's close.  Jul 22 Wheat closed at $11.5475/bushel, down $0.3525 from yesterday's close.  Jul 22 Soybeans closed at $16.93/bushel, up $0.06 from yesterday's close.  Jul 22 Soymeal closed at $427.1/short ton, up $4.6 f...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean and Africa Regional Analysis

Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Central Bank has increased interest rates by 2 percent to a maximum of 12.25 percent as a measure to control inflation that has been complicated by the Russia/Ukraine “tensions” and relat...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.8625/bushel, up $0.075 from yesterday's close.  Jul 22 Wheat closed at $11.9/bushel, up $0.2125 from yesterday's close.  Jul 22 Soybeans closed at $16.87/bushel, down $0.1825 from yesterday's close.  Jul 22 Soymeal closed at $422.5/short ton, down $7.4 fr...

feed-grains soy-oilseeds wheat

Market Commentary: Grains Rally as Russia Rejects Ukrainian Export Corridors; U.S. Corn, Soy Planting Makes Strong Progress

CBOT grains posted slight gains for the day while the soy complex worked its way lower as traders unwound long grain/short soy spreads that were placed last week. Wheat moved higher on news that Russia will not allow the export of Ukrainian grain via the Black Sea unless NATO suspends its econo...

feed-grains soy-oilseeds wheat

WPI Crop Progress and Conditions App (Updated 23 May)

Update for 23 May 2022:  If you don't see the app on the WPI homepage, you can always find it here: https://www.worldperspectives.com/articles/wpi-crop-progress-app The app contains a large volume of data, so please be patient while it loads.  Also, if you have any feedback about the...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Corn Currently, Argentina’s corn harvest is 27.4 percent complete after advancing another 1 percent last week. The harvest is significantly delayed compared to recent years, primarily due to high moisture content of the grain and farmers’ focus on harvesting soybeans first. The grea...

feed-grains soy-oilseeds wheat

European Market Analysis

Regional News  The European Parliament approved duty-free imports of agricultural products from Ukraine for a one-year period. The U.S. is reportedly considering lifting a ban in potassium fertilizer from Belarus if the country will allow the export of Ukrainian ag products through to Lith...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Falls Despite Low KS Yields; Bullish Outlook for Grains, Oilseeds; Bearish Cattle Report

The CBOT traded an odd day on Friday with wheat futures selling off sharply despite private estimates of a Kansas HRW crop nearly 10 Mbu below USDA’s estimate. Even so, fund liquidation and profit taking was the theme of the day and wheat ended 30-40 cents lower. The corn market traded si...

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

Summary of Futures

Jul 22 Corn closed at $7.7875/bushel, down $0.045 from yesterday's close.  Jul 22 Wheat closed at $11.6875/bushel, down $0.3175 from yesterday's close.  Jul 22 Soybeans closed at $17.0525/bushel, up $0.1475 from yesterday's close.  Jul 22 Soymeal closed at $429.9/short ton, up $4...

soy-oilseeds

Oilseeds Highlights – Forecast is Momentum

Soybeans added almost 59 cents/bushel this week and closed back above $17/bushel indicating demand remains strong even as carryover is predicted to rise. Soyoil gained 1.4 cents today to close at 80.95 cents/pound despite Indonesia reopening palm oil sales on Monday. Jakarta was pressured by de...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for May 6-12, 2022 Wheat:  Net sales of 8,500 metric tons (MT) for 2021/2022--a marketing-year low--were down 40 percent from the previous week and 82 percent from the prior 4-week average. Corn:  Net sales of 435,300 MT for 2021/2022 were up noticeably from the previous...

feed-grains soy-oilseeds wheat

Market Commentary – Unsettled but Not Rudderless

Commodity traders should be grateful they are not equity traders. The broader economy presents less certainty than agricultural balance sheets that will take time to rebalance. Russia is trying to exploit food insecurity by offering to allow Ukrainian exports provided sanctions are dropped. Wes...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.8325/bushel, up $0.0175 from yesterday's close.  Jul 22 Wheat closed at $12.005/bushel, down $0.3025 from yesterday's close.  Jul 22 Soybeans closed at $16.905/bushel, up $0.2775 from yesterday's close.  Jul 22 Soymeal closed at $425.3/short ton, up $11.3...

feed-grains soy-oilseeds wheat

Market Commentary: Inflation Sparks Macro Market and CBOT Selloff, N. Kansas Wheat Yields at 39.5 BPA

The CBOT was sharply lower for the day with corn and soyoil breaking technical support levels while soybeans pulled back but maintained their recent trading range(s). Wheat futures were 40+ cents lower but still only marked inside days on their charts – a testament to the strength and vol...

feed-grains soy-oilseeds livestock

China In-Country Analysis

Public Health Case Count Falls Further, Economic Impact Worsens The trailing seven-day average for new COVID-19 cases and related deaths has continued to decrease according to data from Johns Hopkins Coronavirus Resource Center. Through Saturday, new cases for the previous seven days averaged 7...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.815/bushel, down $0.1925 from yesterday's close.  Jul 22 Wheat closed at $12.3075/bushel, down $0.4675 from yesterday's close.  Jul 22 Soybeans closed at $16.6275/bushel, down $0.1525 from yesterday's close.  Jul 22 Soymeal closed at $414/short ton, up $2...

feed-grains soy-oilseeds wheat

Wheat Weighs on Other Crops

Global food security is supposed to be broadly at risk but acute tightness in grain stocks is more limited to wheat. Global rice stocks are about the same as in 2020/21 yet rice prices are 23 percent higher this year. Similarly, world soybean stocks will be about the same as in 2020/21 and will...

feed-grains wheat soy-oilseeds

Black Sea Regional Analysis

Russian Grain Markets: 9-13 May 2022 Most businesses were closed from 1-9 May as Russians celebrated Soviet holidays. Trade has now resumed and there is a bearish mood on all fronts. Exporters decreased their interest in the Black Sea ports and local currency strengthened thus solidifying the b...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Scores New Highs; Soybeans Rally on China Buying Rumors; Cattle Fall on Weak Cash Trade

The CBOT traded a generally bullish day with wheat futures forging a classic bullish day on the charts. Wheat futures opened higher, traded sharply lower to test support in yesterday’s chart gap, then settled higher after forging new contract highs. World wheat risks abound, and the only...

feed-grains wheat soy-oilseeds

Hunger Remains a Distribution Problem

World leaders express great concern that the level of world food insecurity is worsening under the weight of the Russian war on Ukraine. Then there are the multitude of different characterizations of the problem: food insecurity, hunger, undernourishment, etc. To the extent that it has worsened...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $8.0075/bushel, down $0.0875 from yesterday's close.  Jul 22 Wheat closed at $12.775/bushel, up $0.3 from yesterday's close.  Jul 22 Soybeans closed at $16.78/bushel, up $0.215 from yesterday's close.  Jul 22 Soymeal closed at $411.8/short ton, down $1.8 fro...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $8.07/bushel, down $0.025 from yesterday's close.  Jul 22 Wheat closed at $12.67/bushel, up $0.195 from yesterday's close.  Jul 22 Soybeans closed at $16.5425/bushel, down $0.0225 from yesterday's close.  Jul 22 Soymeal closed at $414/short ton, up $0.4 from...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Limit-Up on India’s Export Ban; Corn Rallies on Brazilian Drought/Frost Risk

Over the weekend, India announced a ban on wheat exports following the massive heat waves that have severely hurt the country’s yields. Before the ban, India was expected to be a marginal but significant – especially this year – exporter of about 10 MMT. USDA’s May WASDE...

feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Wheat Amid controversy and conflicting opinions, the Argentine government authorized the planting and commercialization of transgenic (genetically modified, or GM) wheat - Bioceres’s HB4 variety. Most of the concerns against the authorization are not about consumption of GM products, but...

wheat feed-grains soy-oilseeds

European Market Analysis

Regional News  Drought in Europe is becoming increasingly concerning with projections for EU wheat yields deteriorating. Areas of western Europe and the Baltics have received as much as 50 mm of rain less than normal by this date with the drought affecting a wide swath of Europe from Spain...

soy-oilseeds

WASDE Soyoil

SOYOIL:  USDA's outlook is for global oilseed production in 2022/23 to be 647.1 million tons, rising 50.3 million from last marketing year when droughts impacted South American soybean production and the Canadian canola crop.  U.S. soybean oil prices are forecast to average 70 cents p...

soy-oilseeds

WASDE Soymeal

SOYMEAL: USDA’s outlooks is for the U.S. soybean crush in 2022/23 to be 2.26 billion bushels, up 40 million from the 2021/22 forecast.  Domestic soybean meal disappearance is forecast to increase 2 percent from 2021/22 with low soybean meal prices relative to corn.  U.S. soybean...

soy-oilseeds

WASDE Soybeans

SOYBEANS:  USDA’s outlook is that the U.S. soybean crop in 2022/23 will be at 4.64 billion bushels, up 5 percent from last year.  U.S. ending stocks for 2022/23 are projected at 310 million bushels, up 75 million from the revised 2021/22 forecast. The 2022/23 U.S. season-average...

feed-grains soy-oilseeds wheat

Market Commentary: Paris, KC, Chicago Wheat Score New Highs; Soybeans Rally as China Buys

The CBOT was sharply higher in trade that continued the bullish reaction to Thursday’s WASDE report. All three wheat classes and new crop corn futures scored new contract highs, though CBOT wheat and corn pulled back to post modest losses for the day. Soybeans rallied sharply and are movi...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.8125/bushel, down $0.1025 from yesterday's close.  Jul 22 Wheat closed at $11.775/bushel, down $0.0125 from yesterday's close.  Jul 22 Soybeans closed at $16.465/bushel, up $0.3275 from yesterday's close.  Jul 22 Soymeal closed at $409.3/short ton, up $13...

soy-oilseeds

Oilseeds Highlights: Their Inexorable Rise Continues

WASDE Key Points Everything in oilseeds world goes higher: Global oilseed production at 647 MMT (+8 percent). Global soymeal production (4.25 percent) and exports (3.08 percent). Global soyoil production (3.9 percent) and exports (4 percent). U.S. soybean ending stocks (32 percent) and global...

feed-grains soy-oilseeds wheat

Market Commentary – USDA Joins the Running of the Bulls

Poor spring planting conditions forced USDA to throw its usual cautiousness to the wind as the May WASDE affirmed a bull market. The market firmed ahead of the release as thoughts of buying a dip evaporated and instead wheat skyrocketed. Corn and soybeans remain down for the past five trading s...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.915/bushel, up $0.03 from yesterday's close.  Jul 22 Wheat closed at $11.7875/bushel, up $0.6575 from yesterday's close.  Jul 22 Soybeans closed at $16.1375/bushel, up $0.07 from yesterday's close.  Jul 22 Soymeal closed at $396/short ton, down $1.9 from...

feed-grains soy-oilseeds wheat

Export Sales

Export Sales for April 29-May 5, 2022.  Wheat:  Net sales of 14,100 metric tons (MT) for 2021/2022--a marketing-year low--were down 88 percent from the previous week and 79 percent from the prior 4-week average. Corn:  Net sales of 192,700 MT for 2021/2022--a marketing-year low--...

feed-grains soy-oilseeds wheat

Market Commentary: Risk-On Pre-WASDE Trade; Wheat Rallies on Too Dry/Too Wet Forecast; Inflation Drives Fund Buying

The CBOT was higher the day before the May WASDE with traders turning more bullish amid persistently challenging weather forecasts for the world’s major crop producers. Moreover, U.S. economic data sent funds looking for assets in which to hedge inflation risks, which meant an inflow of s...

feed-grains soy-oilseeds wheat

Summary of Futures

Jul 22 Corn closed at $7.885/bushel, up $0.1325 from yesterday's close.  Jul 22 Wheat closed at $11.13/bushel, up $0.2025 from yesterday's close.  Jul 22 Soybeans closed at $16.0675/bushel, up $0.145 from yesterday's close.  Jul 22 Soymeal closed at $397.9/short ton, down $3.6 fr...

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