Export Sales
Export Sales and Shipments for period March 15-21, 2024. Wheat: Net sales of 339,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Export shipments of 408,900 MT were up 3 percent from the previous week, but do...
Summary of Futures
May 24 Corn closed at $4.2675/bushel, down $0.0575 from yesterday's close. May 24 Wheat closed at $5.475/bushel, up $0.04 from yesterday's close. May 24 Soybeans closed at $11.925/bushel, down $0.065 from yesterday's close. May 24 Soymeal closed at $339/short ton, down $0.8 fr...
Market Commentary: Acreage Outlooks Weaken Corn, Soy; Wheat Gains on Firmer Russian Offers
Trade at the CBOT was mostly lower heading into Thursday’s Grain Stocks and Prospective Plantings reports from the USDA, but wheat futures managed to find midday support and settle higher. Wheat’s strength came from another week of cautious gains in Russian FOB offers, which is seen...
Black Sea Regional Analysis
Russian Grain Markets: 18–22 March 2024 The Russian domestic grain market saw depreciation of milling wheat and a slight depreciation of feed wheat, while feed corn also started to appreciate - most probably because of softer export duties. For the upcoming week, exports of feed corn from...
Market Commentary: CBOT Sinks on Risk-Off Trade; Cattle Futures Crash on HPAI Discovery
Reactions to news headlines dominated Tuesday’s commodity trade with markets selling off in defensive, risk-off price action. As is discussed in more detail below and in nearby pages, bearish news hit the markets from the overnight collapse of a bridge in Baltimore, Maryland that closed t...
Summary of Futures
May 24 Corn closed at $4.325/bushel, down $0.0525 from yesterday's close. May 24 Wheat closed at $5.435/bushel, down $0.115 from yesterday's close. May 24 Soybeans closed at $11.99/bushel, down $0.1025 from yesterday's close. May 24 Soymeal closed at $339.8/short ton, down $1...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Prime minister says that the prices of essential goods will drop by 15 to 20 percent in coming days. He added that $4.5 billion of goods delayed in ports due to unavailable foreign exchange will now...
Market Commentary: Soy Complex Leads CBOT with Vegoil Rally
The biggest moves in ag commodity futures are in the vegoil markets right now, with stronger Malaysian palm oil exports and drought threats pushing values higher. Last week, Malaysian palm oil scored new contract highs and helped CBOT soyoil rally, and similar trends developed in Monday’s...
Summary of Futures
May 24 Corn closed at $4.3775/bushel, down $0.015 from yesterday's close. May 24 Wheat closed at $5.55/bushel, up $0.0025 from yesterday's close. May 24 Soybeans closed at $12.0925/bushel, up $0.1675 from yesterday's close. May 24 Soymeal closed at $341.7/short ton, up $2.6 fr...
European Market Analysis
Regional News Russia’s grain stocks at the end of February totaled 28 MMT, down 2.7 percent compared to the prior year. Wheat stocks of 17.5 MMT were up 1.1 percent from February 2023 while corn stocks fell 10 percent over that period to 2.9 MMT. Oilseed stocks totaled 4 MMT (up 5 p...
Mercosur Regional Analysis
Corn The Buenos Aires Grain Exchange lowered its forecast of Argentina’s corn harvest estimate by 2.5 MMT down to 54 MMT last week. The main reasons are the February heatwave (which affected the mid- and late-season corn), excessive rainfall, and inclement weather that caused yield losses...
Summary of Futures
May 24 Corn closed at $4.3925/bushel, down $0.015 from yesterday's close. May 24 Wheat closed at $5.5475/bushel, up $0.08 from yesterday's close. May 24 Soybeans closed at $11.925/bushel, down $0.195 from yesterday's close. May 24 Soymeal closed at $339.1/short ton, down $5.2...
Export Sales
Export Sales and Shipments for period March 15-21, 2024. Wheat: Net sales of 339,600 metric tons (MT) for 2023/2024 were down noticeably from the previous week, but up noticeably from the prior 4-week average. Export shipments of 408,900 MT were up 3 percent from the previous week, but do...
Summary of Futures
May 24 Corn closed at $4.2675/bushel, down $0.0575 from yesterday's close. May 24 Wheat closed at $5.475/bushel, up $0.04 from yesterday's close. May 24 Soybeans closed at $11.925/bushel, down $0.065 from yesterday's close. May 24 Soymeal closed at $339/short ton, down $0.8 fr...
Market Commentary: Acreage Outlooks Weaken Corn, Soy; Wheat Gains on Firmer Russian Offers
Trade at the CBOT was mostly lower heading into Thursday’s Grain Stocks and Prospective Plantings reports from the USDA, but wheat futures managed to find midday support and settle higher. Wheat’s strength came from another week of cautious gains in Russian FOB offers, which is seen...
Black Sea Regional Analysis
Russian Grain Markets: 18–22 March 2024 The Russian domestic grain market saw depreciation of milling wheat and a slight depreciation of feed wheat, while feed corn also started to appreciate - most probably because of softer export duties. For the upcoming week, exports of feed corn from...
Market Commentary: CBOT Sinks on Risk-Off Trade; Cattle Futures Crash on HPAI Discovery
Reactions to news headlines dominated Tuesday’s commodity trade with markets selling off in defensive, risk-off price action. As is discussed in more detail below and in nearby pages, bearish news hit the markets from the overnight collapse of a bridge in Baltimore, Maryland that closed t...
Summary of Futures
May 24 Corn closed at $4.325/bushel, down $0.0525 from yesterday's close. May 24 Wheat closed at $5.435/bushel, down $0.115 from yesterday's close. May 24 Soybeans closed at $11.99/bushel, down $0.1025 from yesterday's close. May 24 Soymeal closed at $339.8/short ton, down $1...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MEDITERRANEAN/MIDDLE EAST/NORTH AFRICA/AFRICA – MEA REGION Egypt’s Prime minister says that the prices of essential goods will drop by 15 to 20 percent in coming days. He added that $4.5 billion of goods delayed in ports due to unavailable foreign exchange will now...
Market Commentary: Soy Complex Leads CBOT with Vegoil Rally
The biggest moves in ag commodity futures are in the vegoil markets right now, with stronger Malaysian palm oil exports and drought threats pushing values higher. Last week, Malaysian palm oil scored new contract highs and helped CBOT soyoil rally, and similar trends developed in Monday’s...
Summary of Futures
May 24 Corn closed at $4.3775/bushel, down $0.015 from yesterday's close. May 24 Wheat closed at $5.55/bushel, up $0.0025 from yesterday's close. May 24 Soybeans closed at $12.0925/bushel, up $0.1675 from yesterday's close. May 24 Soymeal closed at $341.7/short ton, up $2.6 fr...
European Market Analysis
Regional News Russia’s grain stocks at the end of February totaled 28 MMT, down 2.7 percent compared to the prior year. Wheat stocks of 17.5 MMT were up 1.1 percent from February 2023 while corn stocks fell 10 percent over that period to 2.9 MMT. Oilseed stocks totaled 4 MMT (up 5 p...
Mercosur Regional Analysis
Corn The Buenos Aires Grain Exchange lowered its forecast of Argentina’s corn harvest estimate by 2.5 MMT down to 54 MMT last week. The main reasons are the February heatwave (which affected the mid- and late-season corn), excessive rainfall, and inclement weather that caused yield losses...
Summary of Futures
May 24 Corn closed at $4.3925/bushel, down $0.015 from yesterday's close. May 24 Wheat closed at $5.5475/bushel, up $0.08 from yesterday's close. May 24 Soybeans closed at $11.925/bushel, down $0.195 from yesterday's close. May 24 Soymeal closed at $339.1/short ton, down $5.2...