Grains Futures Prices
- Morning Grains. 07/21/17
WHEAT General Comments: US markets were mixed as some rains developed in parts of the Dakotas and into Minnesota. Most of the rains were in eastern areas,...
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Today at 2:00 P.M. we have Cattle and Cattle On Feed reports. News from Informa Economics IEG has adjusted production forecasts for Corn, Barley and Spring...
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Good Morning! From Allendale, Inc. with the early morning commentary for July 21, 2017 Grain markets are concentrating on the weather. On each model...
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- September 2017 SRW CBOT Wheat For 7.21.17
Highly Accurate Technical Analysis for Today, 3 to 5 Days Out, 2 to 3 Weeks Out and 2 to 3 Months Out
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Wheat futures posted 5 to 7 3/4 cent losses in most KC and CBT contracts, as MPLS was 9 to 12 1/4 cents lower in most contracts. The Sep contract in KC as down 3.41% on the week, with CBE 2.25% lower, as MPLS saw gains of 1.02%. Spring wheat yield for 2017 was lowered 2.2 bpa to 38.1 bpa by Informa on Thursday afternoon, with their production estimate dropping 23 mbu to 400 mbu. These are still higher than some other recent trade projections. Spec funds backed 2,193 contracts on their net largest recorded net long position to 70,918 contracts in KC wheat futures and options. In CBT wheat futures and options, they lowered their net long position to 35,926 contracts, a drop of 8,759 contracts. The US ag attach in Australia lowered their wheat production estimate for the crop to be harvested this fall to 22 MMT, 1.5 MMT lower than the latest USDA projection. Sep 17 CBOT Wheat closed at $4.99 1/4, down 6 1/2 cents, Sep 17 KCBT Wheat closed at $4.96, down 7 3/4 cents, Sep 17 MGEX Wheat closed at $7.65 3/4, down 12 1/4 cents
Soybean futures settled with steady to 4 3/4 losses on Friday, on pre-weekend profit taking. Aug ended the week up 2.02% since last Friday. Front month soy meal was 80 cents/ton lower, with Aug 17 soy oil 17 points in the red. Managed money was shown to add 19,303 contracts to their net long position, now at 38,351 contracts in soybean futures and options trading. The Argentine Ag Ministry lowered their 2016/17 soybean production estimates to 55 MMT, down 2MMT from their previous projection. August options expired today, but bears were unable to get the $10 pin. Aug 17 Soybeans closed at $10.09, down 4 1/4 cents, Sep 17 Soybeans closed at $10.14 1/4, down 4 cents, Nov 17 Soybeans closed at $10.22 1/4, down 4 3/4 cents, Mar 18 Soybeans closed at $10.33 1/2, down 2 3/4 cents, Aug 17 Soybean Meal closed at $329.70, down $0.80, Aug 17 Soybean Oil closed at $33.80, down $0.17
Corn futures closed Friday with losses of 7 to 11 1/4 cents in most contracts, with Sep gaining 3 1/2 cents on the week. Friday morning showed showers rolling across dry portions of Northern NE and Southern SD. Recent bulls were cashing out rather than risking gains over the weekend. The afternoon’s CFTC Commitment of Traders report indicated that spec traders had added 3,706 contracts to their net long position of 104,670 contracts in corn futures and options trading. Consultant Informa updated their 2017 US corn yield projection to 166.2 bushels per acre, down 3.5 bpa from their previous estimate, with production at 13.9 billion bushels. On Friday, China sold 1.873 MMT of 3.366 MMT of 2013 and 2014 corn offered at an auction of state reserves. Sep 17 Corn closed at $3.79 3/4, down 11 1/4 cents, Dec 17 Corn closed at $3.93 1/2, down 11 1/4 cents, Mar 18 Corn closed at $4.04 1/2, down 10 3/4 cents May 18 Corn closed at $4.09 1/2, down 10 1/2 cents