Recent Wheat Analysis
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Summary of Futures
May 23 Corn closed at $6.505/bushel, up $0.0325 from yesterday's close. May 23 Wheat closed at $7.0475/bushel, up $0.05 from yesterday's close. May 23 Soybeans closed at $14.7725/bushel, up $0.095 from yesterday's close. May 23 Soymeal closed at $458.2/short ton, up $0.3 from...
Black Sea Regional Analysis
Russian Grain Markets: 20 – 24 March 2023 Many grain prices plummeted, which is no big surprise considering the massive carryover stocks. The reasons are the same: high export duties (wheat export duty is already $71.18/MT), spring campaign planting, farmers’ desperate need fo...
Market Commentary: Soymeal, KCBT Wheat Lead Tuesday Rallies; Acreage and Stocks Reports Loom
The CBOT was mostly higher on Tuesday with traders increasingly preparing and positioning for the coming acreage and Grain Stocks reports. The soy complex was the upside leader for the day with turnaround in soymeal and soybeans gaining steam and attracting more technical buying interest. There...
Summary of Futures
May 23 Corn closed at $6.4725/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9975/bushel, up $0.0175 from yesterday's close. May 23 Soybeans closed at $14.6775/bushel, up $0.255 from yesterday's close. May 23 Soymeal closed at $457.9/short ton, up $11.9 f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Grain markets have been upset by concerns that Russia could stop its export of wheat and sunflower seed on a temporary basis due to the recent drop in world prices. Discussions are expected in Russia this week bet...
Market Commentary: CBOT Rises on Weather Concerns, Acres and Stocks Expectations
The CBOT was green across the board on Monday, though trading volume remained lighter than normal. Traders were focused on continued news from Russia that, even if it doesn’t limit wheat exports, it will seek to raise the export price of its products. That, combined with position evening...
Summary of Futures
May 23 Corn closed at $6.4825/bushel, up $0.0525 from yesterday's close. May 23 Wheat closed at $6.98/bushel, up $0.095 from yesterday's close. May 23 Soybeans closed at $14.4225/bushel, up $0.14 from yesterday's close. May 23 Soymeal closed at $446/short ton, up $0.9 from yes...
Mercosur Regional Analysis
Corn Rain fell over the past few days and helped stop the deterioration of the corn crop, but this does not mean the estimate of between 35 and 36 MMT won't fall further. The harvest is complete across approximately 5 percent of the area with an average yield of 3.45 MT/ha. Everyone was expecti...
Market Commentary: Calm Before the Reports
All the major contracts opened in the green but by the close only soymeal, HRW, and the livestock complex remained that way. Profit-taking was one aspect but most noticeable was lower volume for most of the markets, and a narrow trading range for many. It appeared that everything was positioned...
Summary of Futures
May 23 Corn closed at $6.495/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9225/bushel, down $0.125 from yesterday's close. May 23 Soybeans closed at $14.745/bushel, down $0.0275 from yesterday's close. May 23 Soymeal closed at $459.9/short ton, up $1.7...
Export Sales
Export Sales and Shipments for the period March 17-23, 2023 Wheat: Net sales of 151,700 metric tons (MT) for 2022/2023 were up 21 percent from the previous week, but down 40 percent from the prior 4-week average. Export shipments of 377,500 MT were up 4 percent from the previ...
Market Commentary: Corn, Soybeans Spreads Bullish before Reports; Wheat Pares Early Gains
The ag trading world is abuzz with discussion of the coming Grain Stocks and Prospective Plantings reports that USDA will release on Friday. The stocks report is usually relatively (we use that word loosely) easy to predict but the planting numbers notoriously escape the range of pre-report est...
Summary of Futures
May 23 Corn closed at $6.505/bushel, up $0.0325 from yesterday's close. May 23 Wheat closed at $7.0475/bushel, up $0.05 from yesterday's close. May 23 Soybeans closed at $14.7725/bushel, up $0.095 from yesterday's close. May 23 Soymeal closed at $458.2/short ton, up $0.3 from...
Black Sea Regional Analysis
Russian Grain Markets: 20 – 24 March 2023 Many grain prices plummeted, which is no big surprise considering the massive carryover stocks. The reasons are the same: high export duties (wheat export duty is already $71.18/MT), spring campaign planting, farmers’ desperate need fo...
Market Commentary: Soymeal, KCBT Wheat Lead Tuesday Rallies; Acreage and Stocks Reports Loom
The CBOT was mostly higher on Tuesday with traders increasingly preparing and positioning for the coming acreage and Grain Stocks reports. The soy complex was the upside leader for the day with turnaround in soymeal and soybeans gaining steam and attracting more technical buying interest. There...
Summary of Futures
May 23 Corn closed at $6.4725/bushel, down $0.01 from yesterday's close. May 23 Wheat closed at $6.9975/bushel, up $0.0175 from yesterday's close. May 23 Soybeans closed at $14.6775/bushel, up $0.255 from yesterday's close. May 23 Soymeal closed at $457.9/short ton, up $11.9 f...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Grain markets have been upset by concerns that Russia could stop its export of wheat and sunflower seed on a temporary basis due to the recent drop in world prices. Discussions are expected in Russia this week bet...
Market Commentary: CBOT Rises on Weather Concerns, Acres and Stocks Expectations
The CBOT was green across the board on Monday, though trading volume remained lighter than normal. Traders were focused on continued news from Russia that, even if it doesn’t limit wheat exports, it will seek to raise the export price of its products. That, combined with position evening...
Summary of Futures
May 23 Corn closed at $6.4825/bushel, up $0.0525 from yesterday's close. May 23 Wheat closed at $6.98/bushel, up $0.095 from yesterday's close. May 23 Soybeans closed at $14.4225/bushel, up $0.14 from yesterday's close. May 23 Soymeal closed at $446/short ton, up $0.9 from yes...
Mercosur Regional Analysis
Corn Rain fell over the past few days and helped stop the deterioration of the corn crop, but this does not mean the estimate of between 35 and 36 MMT won't fall further. The harvest is complete across approximately 5 percent of the area with an average yield of 3.45 MT/ha. Everyone was expecti...