Grains Futures Prices
- Corn Spreads At Full Carry And December Is Rolling!
As the US grains harvest comes full swing, December 2017 Corn futures are about to enter their contract roll. Notice: the open interest has not yet begun...
- The Golden Trade
GOOD TRADES REPEAT THEMSELVES
- Morning Grain Market Research
While it is nice to see grain/soy prices higher for a second morning in a row, unless we really build on these early gains, we will still finish the week...
- MDA Update: Short Dec 10 year note, Risk Update and Profit Review, 10/20/17
December 10 year note – Multi-Profile Short Review – 10/20/17 CLICK IMAGES TO OPEN CHART CONTENT Chart Update 10/20/17 December 10 year note –...
- Corn Growers Look Ahead to Future. The Corn & Ethanol Report 10/20/17
The volume in the markets speaks volumes (no pun intended). It just seems so quiet like the calm before the storm. Today’s reports are Existing Home...
- Take A Look At Soybean Oil
Chart structure is improving
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Soybean futures are currently down 5 1/2 to 5 3/4 cents at midday. Drier weather this week is pressuring the market, as most traders are ignoring forecasts for showers in the Eastern US next week. December meal is $3.20/ton lower, with nearby bean oil 27 points higher. A private export sale to China of 198,000 MT for 17/18 delivery was reported by the USDA this morning. Soybean commitments for exports are now 11.5% below this time last year. Compared to the USDA full year projection, they are 43% complete, lagging the average for this week at 58% and 54% last year. The CME is lowering the daily price limit to 65 cents for soybeans, which will take effect on November 1. Nov 17 Soybeans are at $9.80 3/4, down 5 3/4 cents, Jan 18 Soybeans are at $9.91 1/2, down 5 1/2 cents, Mar 18 Soybeans are at $10.01 1/2, down 5 1/2 cents, May 18 Soybeans are at $10.10 1/2, down 5 1/2 cents, Dec 17 Soybean Meal is at $318.20, down $3.20 Dec 17 Soybean Oil is at $34.10, up $0.27
Wheat futures are showing losses of 2 to 4 cents in the nearby CBT and KC contracts, as MPLS is down 1-3 cents. Export commitments for all wheat are now 4% lower than this time last year. They are 56% of the full year USDA export projection, just shy of last year’s 58% and the average at 60%. The USDA Ag attach in Australia sees the 2017 production at 20 MMT, 1.5 MMT below the current WASDE supply and demand table, mainly due to dry weather. The Ukraine Ag Ministry estimates that winter wheat planting is 90% complete, while AgriMer projects the French wheat crop is 47% planted. Dec 17 CBOT Wheat is at $4.30, down 2 3/4 cents, Dec 17 KCBT Wheat is at $4.25 3/4, down 3 1/2 cents, Dec 17 MGEX Wheat is at $6.14 3/4, down 1 cent
Corn futures are trading 2 3/4 to 3 3/4 cents lower on Friday. The USDA announced private export sales of 125,000 MT of corn to Unknown Destinations, with an additional 120,000 MT to Spain for 17/18 delivery through their daily reporting system. Total export commitments gained on last year, but are still 30.49% lower than the same time last year. They are 32% of the USDA export projection for the 17/18 marketing year, compared to the average of 37% and last year’s 41%. The Buenos Aires Grain Exchange sees planting progress at 27.7% complete, 5% above this time last year. Acreage intentions are larger. On Friday, China sold 1.95 MMT of the total 3.767 MMT offered at an auction of state reserves. Dec 17 Corn is at $3.45 1/4, down 3 3/4 cents, Mar 18 Corn is at $3.59 1/4, down 3 1/2 cents, May 18 Corn is at $3.68, down 3 1/4 cents Jul 18 Corn is at $3.75 1/2, down 2 3/4 cents