Bears started out the week in full control of the CBOT, but their grip loosened on Thursday and bulls managed to post at turnaround in several markets. Chief among the turnaround was corn futures where an early dip below $4.00 in the December contract triggered short covering and some commercia...
Dec 24 Corn closed at $4.0675/bushel, up $0.02 from yesterday's close. Dec 24 Wheat closed at $5.895/bushel, up $0.045 from yesterday's close. Nov 24 Soybeans closed at $9.8875/bushel, up $0.0875 from yesterday's close. Dec 24 Soymeal closed at $318.1/short ton, up $4.4 from yest...
The MarketToday’s IGC report increased the growth in global soybean carryout and thus reinforced the bearish trend in the November futures contract. There are still counterfactuals such as Brazil’s delayed planting, low moisture U.S. pods, plus wilt (Fusarium oxysporum) and Brown stem rot (Cada...
State Control of MarketsRussia’s agriculture ministry recently “suggested” that grain exporters not sell wheat internationally below the minimum price of $250/MT FOB. The minimum price approach is less clumsy than export quotas but is a harder stop than Moscow’ use of export taxes to try and ma...
Dec 24 Corn closed at $4.0675/bushel, up $0.02 from yesterday's close. Dec 24 Wheat closed at $5.895/bushel, up $0.045 from yesterday's close. Nov 24 Soybeans closed at $9.8875/bushel, up $0.0875 from yesterday's close. Dec 24 Soymeal closed at $318.1/short ton, up $4.4 from yest...
The MarketToday’s IGC report increased the growth in global soybean carryout and thus reinforced the bearish trend in the November futures contract. There are still counterfactuals such as Brazil’s delayed planting, low moisture U.S. pods, plus wilt (Fusarium oxysporum) and Brown stem rot (Cada...
State Control of MarketsRussia’s agriculture ministry recently “suggested” that grain exporters not sell wheat internationally below the minimum price of $250/MT FOB. The minimum price approach is less clumsy than export quotas but is a harder stop than Moscow’ use of export taxes to try and ma...
Dec 24 Corn closed at $4.0475/bushel, up $0.035 from yesterday's close. Dec 24 Wheat closed at $5.85/bushel, up $0.055 from yesterday's close. Nov 24 Soybeans closed at $9.8/bushel, down $0.11 from yesterday's close. Dec 24 Soymeal closed at $313.7/short ton, up $1.9 from yesterd...
As WPI reported yesterday, the total supply of beef per capita is up this year over last based on imports and heavier slaughter weights; both are related to the pace of beef cow salughter. A bigger percent of fed cattle in the mix has resulted in heavier slaughter weights, as well as feeder cat...
Dec 24 Corn closed at $4.0475/bushel, up $0.035 from yesterday's close. Dec 24 Wheat closed at $5.85/bushel, up $0.055 from yesterday's close. Nov 24 Soybeans closed at $9.8/bushel, down $0.11 from yesterday's close. Dec 24 Soymeal closed at $313.7/short ton, up $1.9 from yesterd...
The CBOT was mixed on Wednesday with corn rising after the USDA reported “flash” export sales of over 1.9 MMT of corn to Mexico and unknown destinations combined. The news put a bid under futures and caused corn spreads to firm slightly with funds buying back some of what they sold earlier this...
Russian Grain Markets: 7 – 11 October 2024The world has been watching the 2024 Russian grain harvest forecasts, especially wheat production. The Russian Ministry of Agriculture was not making any sharp moves in one direction or the other, while domestic analysts have revised the 2024 grain crop...
Most economists are clear in describing tariffs as a border tax. Their impacts include increasing costs on consumers and reducing trade, and thus self-harming a nation’s economic well-being. Yet, it is difficult to identify a nation that doesn’t use tariffs, and most utilize them more than the...
Ocean Freight Comments - 11 October 2024 By Matt Herrington Vessel owners are still hoping for a rally in freight markets – as they have been since August – but the lack of upward momentum in rates has not delayed these hopes until November or December. Unfortunately for owners, how...
Bears were in control of the CBOT for the second straight day with very few bullish news items seeming to exist on the horizon. Between improving weather forecasts for the Northern Hemisphere, lower threat of a La Nina this year, strong harvest progress in the U.S., large crop forecasts for Bra...
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Algeria decided to bar French companies from its wheat import tenders due to France’s support for Morocco’s continued sovereignty over the Western Sahara region. All tender participants have been advis...
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