Grains Futures Prices
- Stopped Out Of Soybeans After 7 Weeks
Time to move on
- Morning Grain Market Research
It would appear that the grain and soy markets may have finally shaken off the case of the post-Easter blues that they were suffering through last week...
- Morning Grains. 04/24/17
DJ Summary for April USDA Monthly Cattle on Feed Data Data from the U.S. Department of Agriculture’s monthly cattle-on-feed report, released at 3 p.m....
- France Follows U.S. Lead. The Corn & Ethanol Report 04/24/17
The minions have spoken and the corrupt politicians should soon get an education that they cannot continue to bamboozled the voters they were elected to...
- US Export Door Opens With Weak Dollar
Grain markets are higher, supported by a weaker US Dollar and last week’s sell-off of 14 cents in corn and 24 cents in wheat. French election results...
- Where Are Corn Prices Going
Brugler reportGet the Newsletter
Corn futures finished mostly 1 1/4 to 2 1/2 cents higher on Monday. After the close, the USDA released the Crop Progress report, showing planting progress in the US higher than estimates, at 17% complete as of Sunday. That is 11% behind the same time last year, and down 1% from the average of 18%. Along with that, 4% of the crop is already emerged, matching the average of 4% and last year’s 4%. The USDA Export Inspection report showed corn shipments for the week ending April 20 were 9.28% above last week and 27% higher than a year ago at 1,453,506 MT. Accumulated exports are now 62.24% larger vs. a year ago at 37,340,934 MT. Some of the 2016 crop has tested positive for vomitoxin, with most of the toxin isolated in Indiana, Wisconsin, Ohio, Iowa, and Michigan, according to a Reuters report. Taiwan’s MFIG is tendering for 40,000-65,000 MT of Argentine, Brazil, South African, or US corn, with the tender to close on Wednesday. May 17 Corn settled at $3.59 1/4, up 2 1/4 cents, Jul 17 Corn settled at $3.65 1/2, up 1 3/4 cents, Sep 17 Corn settled at $3.72 1/2, up 1 1/2 cents Dec 17 Corn settled at $3.83 1/2, up 1 1/2 cents
Soybean futures closed 9 1/2 to 11 1/4 cents higher, with most back months up 7 1/2 cents. Soymeal gained $6.80 in the front month, with May 17 Soy oil down 25 points. A weaker US dollar was an influence. The first Crop Progress report to include soybean planting progress, had soybeans 6% already planted. That is compared to 3% the same time last year. In the weekly Export Inspections report, the USDA announced 634,877 MT of soybeans were shipped during the week ending April 20. That is a 42.45% jump from last week and 124.53% larger than a year ago. Total exports for the 16/17 marketing year are now 232.6 million bushels above this point last year, the largest lead they have had thus far this year. Landed prices at Rotterdam are currently similar for US and Brazilian origin. May 17 Soybeans settled at $9.61 1/4, up 10 1/4 cents, Jul 17 Soybeans settled at $9.71 3/4, up 11 cents, Aug 17 Soybeans settled at $9.73 1/4, up 11 1/4 cents, Sep 17 Soybeans settled at $9.69 3/4, up 9 1/2 cents, May 17 Soybean Meal settled at $316.40, up $6.80, May 17 Soybean Oil settled at $31.69, down $0.25
Wheat futures were mostly lower on Monday. MPLS was the weakest, down 3-5 cents on the day. CHI was steady to 2 1/2 cents lower, with KC losing 1 3/4 to 3 3/4 cents. Weekly shipments for wheat exports were 612,536 MT for the week ending April 20. That was 10.62% lower than last week, but is 41.14% larger than the weekly shipments reported last year at this time. Winter wheat conditions were reported at 54% good/excellent after the close, unchanged from last week, but down 5% from the same time a year ago. The Brugler 500 index has ratings at 347, up 1 point from last week as 1% was shifted from good to excellent. Last year the rating was 359 for the same week. Winter wheat progress showed 32% of the US crop was headed, up from the average of 23% and 24% last year. The Ukraine Ag Ministry estimates 2017 wheat production at 24 MMT, down from 26.8 MMT last year. May 17 CBOT Wheat settled at $4.02 1/2, down 2 1/2 cents, May 17 KCBT Wheat settled at $4.01 3/4, down 2 3/4 cents, May 17 MGEX Wheat settled at $5.21 1/2, down 5 cents