Market Commentary: Funds Resume Soy Complex Selling; Wheat Falls on Improved Weather
The CBOT was almost uniformly in the red on Tuesday with any bullish supply-side implications from the November WASDE largely forgotten (or ignored) amid bearish demand-side developments. The recent rally in the U.S. dollar is threatening to undo much of the export demand gains the market has w...
Mercosur Regional Analysis
Wheat As of the end of the first week of November, 12 percent of Argentina’s sown wheat area has already been harvested. Harvesting is progressing quickly in the country’s north, with yields that are low but within expectations. Although a few more weeks will pass before the harvest is wid...
WASDE Soybeans - Nov 2024
WASDE Soybeans – USDA’s latest November estimate for the 2024/25 season is a decrease of 80 million bushels in U.S. soybean ending stocks to 470 million bushels. The U.S. season-average soybean price for 2024/25 is forecast unchanged at $10.80 per bushel. The soybean meal price is unchanged at...
WASDE Corn - Nov 2024
WASDE Corn – USDA’s latest November estimate for the 2024/25 season is a decrease in U.S. corn ending stocks to 1.938 billion bushels. The season-average corn price received by producers is unchanged at $4.10 per bushel. Global coarse grain production for 2024/25 is forecast to be slightly...
WASDE Wheat - Nov 2024
WASDE Wheat – USDA’s latest November estimate for the 2024/25 season is for an increase in U.S. wheat ending stocks by 3 million bushels to 815 million, up 17 percent from last year. U.S. wheat exports are unchanged at 825 million bushels. The season-average farm price is lowered $0.10 per bush...
FOB Prices and Freight Rates App (Updated 8 November)
Ocean Freight Comments - 8 November 2024By Matt HerringtonDry-Bulk Freight Dry-bulk freight markets were weaker once again and continue the trend that has been present for the past 15 weeks. Rates for Panamax grain from the U.S. to Asia hit new yearly lows this past week and have fallen ab...
Market Commentary: Grains Rise on Export Demand; Soyoil, Livestock Fall on Technical Trade
The CBOT was mostly higher to start the week with fresh daily export sales announcements and a solid Export Inspections report underpinning the day’s moves. While corn, soybeans, and KC wheat all settled higher for the day, gains were muted as few traders were interested in adding significant r...
Mercosur Regional Analysis
Wheat The long-awaited rains have finally arrived in southeastern Buenos Aires, with precipitation totals ranging from 20–50 mm. While the rainfall isn’t sufficient to complete the wheat crop, it provides relief to an area where plants were beginning to suffer. For now, it halts the declin...
Market Commentary: A Week of Notable Numbers
Except for soymeal, the rest of the grains and oilseeds contracts traded higher in the overnight, and opened higher this morning, but only corn and soyoil ended the day higher. New contract highs were scored today in lean hogs and Malaysian palm oil. A new contract low was marked today fo...
U.S. Soybean Crush Margin Outlook
The three legs of the U.S. soybean crush have each seen interesting and divergent dynamics over the past month that have influenced the crush margin outlook. Notably, soymeal prices have slumped $30/MT lower since early October and are hovering near contract lows just below the $300 mark. Conve...
Market Commentary: CBOT Debates Following Seasonal Rules
The CBOT was mixed for the day with wheat futures sinking lower after the HRW and SRW growing regions received favorable rains Wednesday and early Thursday. That, combined with export pressure from Russia and the Black Sea countries, put wheat on the defensive with funds emerging as net sellers...
Mercosur Regional Analysis
Weather Argentina saw continued rainfall throughout last week and so far during October, nearly all of the country’s agricultural regions experienced at least some precipitation. In areas like the Nucleus Region, totals have even exceeded historical averages for October. This rainfall has...
Market Commentary: Funds Resume Soy Complex Selling; Wheat Falls on Improved Weather
The CBOT was almost uniformly in the red on Tuesday with any bullish supply-side implications from the November WASDE largely forgotten (or ignored) amid bearish demand-side developments. The recent rally in the U.S. dollar is threatening to undo much of the export demand gains the market has w...
Mercosur Regional Analysis
Wheat As of the end of the first week of November, 12 percent of Argentina’s sown wheat area has already been harvested. Harvesting is progressing quickly in the country’s north, with yields that are low but within expectations. Although a few more weeks will pass before the harvest is wid...
WASDE Soybeans - Nov 2024
WASDE Soybeans – USDA’s latest November estimate for the 2024/25 season is a decrease of 80 million bushels in U.S. soybean ending stocks to 470 million bushels. The U.S. season-average soybean price for 2024/25 is forecast unchanged at $10.80 per bushel. The soybean meal price is unchanged at...
WASDE Corn - Nov 2024
WASDE Corn – USDA’s latest November estimate for the 2024/25 season is a decrease in U.S. corn ending stocks to 1.938 billion bushels. The season-average corn price received by producers is unchanged at $4.10 per bushel. Global coarse grain production for 2024/25 is forecast to be slightly...
WASDE Wheat - Nov 2024
WASDE Wheat – USDA’s latest November estimate for the 2024/25 season is for an increase in U.S. wheat ending stocks by 3 million bushels to 815 million, up 17 percent from last year. U.S. wheat exports are unchanged at 825 million bushels. The season-average farm price is lowered $0.10 per bush...
FOB Prices and Freight Rates App (Updated 8 November)
Ocean Freight Comments - 8 November 2024By Matt HerringtonDry-Bulk Freight Dry-bulk freight markets were weaker once again and continue the trend that has been present for the past 15 weeks. Rates for Panamax grain from the U.S. to Asia hit new yearly lows this past week and have fallen ab...
Market Commentary: Grains Rise on Export Demand; Soyoil, Livestock Fall on Technical Trade
The CBOT was mostly higher to start the week with fresh daily export sales announcements and a solid Export Inspections report underpinning the day’s moves. While corn, soybeans, and KC wheat all settled higher for the day, gains were muted as few traders were interested in adding significant r...
Mercosur Regional Analysis
Wheat The long-awaited rains have finally arrived in southeastern Buenos Aires, with precipitation totals ranging from 20–50 mm. While the rainfall isn’t sufficient to complete the wheat crop, it provides relief to an area where plants were beginning to suffer. For now, it halts the declin...
Market Commentary: A Week of Notable Numbers
Except for soymeal, the rest of the grains and oilseeds contracts traded higher in the overnight, and opened higher this morning, but only corn and soyoil ended the day higher. New contract highs were scored today in lean hogs and Malaysian palm oil. A new contract low was marked today fo...
U.S. Soybean Crush Margin Outlook
The three legs of the U.S. soybean crush have each seen interesting and divergent dynamics over the past month that have influenced the crush margin outlook. Notably, soymeal prices have slumped $30/MT lower since early October and are hovering near contract lows just below the $300 mark. Conve...
Market Commentary: CBOT Debates Following Seasonal Rules
The CBOT was mixed for the day with wheat futures sinking lower after the HRW and SRW growing regions received favorable rains Wednesday and early Thursday. That, combined with export pressure from Russia and the Black Sea countries, put wheat on the defensive with funds emerging as net sellers...
Mercosur Regional Analysis
Weather Argentina saw continued rainfall throughout last week and so far during October, nearly all of the country’s agricultural regions experienced at least some precipitation. In areas like the Nucleus Region, totals have even exceeded historical averages for October. This rainfall has...