Grains Futures Prices
- Will Soybeans Ever Break The Range?
After a three-day weekend, soybeans looked like they wanted to break out of the range to the downside on Tuesday. We edged lower on Wednesday before reversing...
- Livestock Report
Volatile Hogs go limit up
- Soybeans - Just My Opinion
Renewed Chinese Optimism coupled with low 2019 acres
- What do we need to send grain prices higher into spring?
Here is a quick 3.5 minute video on what most are missing for a spring grain rally.
- Will US Soybeans Believe THIS Deal With China?
Its been announced that an agreement has been reached, but its clear that the markets reaction is being muted without the signed sealed and delivered details...
- U.S.-China Trade Talks Moving Forward. The Corn & Ethanol Report 02/21/19
We kickoff the day with Jobless Claims at 7:30 A.M., EIA Gas Storage at 9:30 A.M., EIA Energy Stocks at 10:00 A.M. and Dairy Products [...]
Futures Market News and Commentary
Soybean futures saw 5 to 8 1/2 cent gains in most contracts on Thursday. That is following reports that several Memorandum of Understandings are being developed between the US and China. Meal futures were up 70 cents/ton in the nearby contract, with soy oil leading the way to the upside, up 53 points. At the Ag Outlook Forum, USDA released an 85 million acre US soybean planting forecast. That would be down 4.2 million acres from last year if realized. Trade estimates for tomorrows USDA Export Sales report range from 6-9 MMT in old crop sales for the week of 1/10-2/14, with 100,000-600,000 MT for new crop. The 18/19 bookings would imply a 1-1.5 MMT weekly average. The average trade estimate ahead of Friday’s Fats & Oils report is for 182.5 mbu of soybeans crushed in December. The USDA Ag Attach in Brazil updated their soybean production estimate to 115.5 MMT, 1.5 MMT below the official USDA number from February 8.Mar 19 Soybeans closed at $9.11, up 8 1/2 cents,May 19 Soybeans closed at $9.24 1/4, up 8 1/4 cents,Jul 19 Soybeans closed at $9.37 1/2, up 7 3/4 cents,Sep 19 Soybeans closed at $9.46, up 6 3/4 cents,Mar 19 Soybean Meal closed at $305.90, up $0.70,Mar 19 Soybean Oil closed at $30.49, up $0.53 --provided by Brugler Marketing & Management
Corn futures ended the Thursday session with most contracts 3 to 4 3/4 cents higher, with support coming from seeming progress on the Trade War front. The weekly update to the EIA report showed production last week was down 33,000 barrels per day and back below 1 million bpd to 996,000. Even with the lower production, ethanol stocks were up 447,000 barrels to 23.913 million barrels. The USDA’s Ag Outlook Forum showed forecast 2019 corn acreage at 92 million acres, which would be 2.9 million larger than last year. Analysts are expecting Friday’s Export Sales report to show 4-7 MMT in old crop sales and 50,000-250,000 MT in new crop bookings in the weeks of Jan 10-Feb 14.Mar 19 Corn closed at $3.75 1/2, up 4 3/4 cents,May 19 Corn closed at $3.84 1/4, up 4 3/4 cents,Jul 19 Corn closed at $3.92 1/4, up 4 3/4 centsSep 19 Corn closed at $3.96 1/4, up 3 3/4 cents --provided by Brugler Marketing & Management
Wheat futures posted 4 to 9 cent gains in most contracts on Thursday after four sessions of sharp losses, with MPLS the strongest. USDA forecasts 2019 wheat acreage at 47 MMT in their annual Ag Outlook Forum, down 800,000 acres from last year. Friday’s Export Sales report is projected to show 2-3 MMT in all wheat sales for the weeks of 1/10-2/14. That implies a 333,000-500,000 MT per week in sales on average. Taiwan is seeking 110,000 MT of US wheat in a tender that is due next Tuesday. The IGC trimmed their world wheat ending stocks for 18/19 by 1 to 262 MMT, mainly on lower production. Mar 19 CBOT Wheat closed at $4.86 1/2, up 5 3/4 cents,Mar 19 KCBT Wheat closed at $4.55 1/4, up 5 1/4 cents,Mar 19 MGEX Wheat closed at $5.57 3/4, up 9 cents --provided by Brugler Marketing & Management