World Perspectives
feed-grains soy-oilseeds

Oilseed Highlights: WASDE; Is China’s Focus on Corn or Soybeans?

WASDE and the Soybean Sector Tuesday’s USDA crop production and WASDE reports sent a shock through the soybean sector. USDA reduced its estimate for the 2020 U.S. soybean yield from 51.9 bushels/acre (3.49 MT/hectare) to 50.7 bushels/acre (3.41 MT/hectare). That resulted in reducing its estimate for the U.S. soybean crop from 4.268 billion bushels (116.16 MMT) to 4.17 billion bushels (113.5 MMT). Because of the lower U.S. production, USDA reduced its forecast for U.S. soybean ending stocks from 290 million bushels (7.89 MMT) to 190 million bushels (5.386 MMT). That is the lowest stock level since MY 2013/14. USDA raised its forecast for the average U.S. soybean farm price from $9.80/bushel to $10.40/bushel. The ending stocks amounts...

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feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Once again, the major finding of Friday’s CFTC report is that funds still remain solidly bullish corn and added another 7 percent to their long position in that market. That was particularly impressive as the week ending 19 November (the reporting deadline for the CFTC report) included days wit...

feed-grains soy-oilseeds wheat

Market Commentary: Black Sea Instability and Trade War Influences

There were some jitters this week as Russia and Ukraine stepped up assaults ahead of what may become talks to end the conflict. Alongside concerns about a kinetic war is the uncertainty around the incoming Trump Administration’s aggressions in trade policy.It should be noted that geopolitical u...

livestock

Cattle on Feed Report

USDA released the monthly Cattle on Feed report today. Once again, placements surprised to the upside compared to pre-report analysts’ consensus expectations. The total cattle on feed inventory was 11.986 million head, which was slightly above last year’s 11.956 million head. Total feedlot inve...

feed-grains soy-oilseeds wheat

CFTC COT Report Analysis

Once again, the major finding of Friday’s CFTC report is that funds still remain solidly bullish corn and added another 7 percent to their long position in that market. That was particularly impressive as the week ending 19 November (the reporting deadline for the CFTC report) included days wit...

feed-grains soy-oilseeds wheat

Market Commentary: Black Sea Instability and Trade War Influences

There were some jitters this week as Russia and Ukraine stepped up assaults ahead of what may become talks to end the conflict. Alongside concerns about a kinetic war is the uncertainty around the incoming Trump Administration’s aggressions in trade policy.It should be noted that geopolitical u...

livestock

Cattle on Feed Report

USDA released the monthly Cattle on Feed report today. Once again, placements surprised to the upside compared to pre-report analysts’ consensus expectations. The total cattle on feed inventory was 11.986 million head, which was slightly above last year’s 11.956 million head. Total feedlot inve...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 24 Corn closed at $4.255/bushel, down $0.0125 from yesterday's close. Mar 25 Wheat closed at $5.6475/bushel, down $0.0475 from yesterday's close. Jan 25 Soybeans closed at $9.835/bushel, up $0.0575 from yesterday's close. Dec 24 Soymeal closed at $289.2/short ton, up $1.5 fro...

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