Grains Futures Prices
- The Golden Trade
STILL BULLISH AFTER ALL THESE YEARS
- Morning Grains Report 10/18/17
WHEAT General Comments: Wheat markets were slightly lower again yesterday as the market worried about demand for the US production. Export demand was weak...
- Daily Market Comments
Even though we have a slightly defensive tone, the grain and soy complex looks a bit ho-hum this morning. Fresh news is lacking, no new exports sales have...
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There is nary a market...
- Turner’s Take Podcast and Newsletter | Hogs, Crude, and Grain Marketing
NEW PODCAST | I recorded a podcast last night. I dive into our recent ideas in Lean Hogs and Crude Oil. All spec trade ideas come from the Turner’s...
- Daily Technical Spotlight - January Soybeans
Bulls have near-term chart advantage amid price uptrend some normal profit taking seen this week.
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Wheat futures settled with most CBT and KC contracts 4 to 6 cents lower, with MPLS mostly 1-3 cents in the red. All wheat export sales for the week ending October 12 are expected to pick back up over last week’s sales of 174,961 MT. Analysts are seeing sales of 250,000-450,000 MT, as the USDA has already reported a private sale of 104,202 MT during that week. A US Wheat office that encourages the purchase of US wheat in Egypt is shutting their doors in Cairo in December. This comes from the lack of US sales to the country and the persistent freight advantage for Black Sea offerings. After the close Egypt’s GASC announced a tender for wheat, with the close on Thursday. Dec 17 CBOT Wheat closed at $4.30, down 4 3/4 cents, Dec 17 KCBT Wheat closed at $4.28, down 5 1/4 cents, Dec 17 MGEX Wheat closed at $6.10, down 1 cent
Corn futures ended the Wednesday session with most contracts fractionally to 1 1/2 cents lower. Drier weather across much of the Corn Belt is helping to advance harvest progress, and putting a little pressure on the market. The weekly EIA ethanol report showed production up over last week at 1.019 million barrels per day for the week of October 13. That was a 52,000 bpd jump over the previous week. Stocks of ethanol dropped 43,000 barrels during that week to 21.48 million barrels. Analysts are expecting to see 0.8-1.1 MMT in 2017/18 corn export sales in Thursday morning’s USDA report. China sold 10,497 MT of the 130,503 MT offered at Thursday’s auction from state reserves. Dec 17 Corn closed at $3.48 1/2, down 1 1/2 cents, Mar 18 Corn closed at $3.62 1/4, down 1 1/2 cents, May 18 Corn closed at $3.70 3/4, down 1 1/4 cents Jul 18 Corn closed at $3.77 3/4, down 3/4 cent
Soybean futures closed the day with most contracts a penny on either side of UNCH. December meal was up 20 cents/ton, with nearby bean oil down 18 cents. A Reuters survey of traders is showing expected 17/18 soybean sales for the week of October 12 at 1.3-1.7 MMT, just shy of last week’s sales. Soy meal sales are projected at 100,000-250,000 MT for 17/18, with soy oil estimated at 5,000-22,000 MT. The 6-10 day forecasts look a little wetter for dry northern Brazilian planting areas. China’s National Grains and Oil Info Center sees soybean oil stocks at 1.6 MMT, well above last year’s 1.3 MMT for the same time. Nov 17 Soybeans closed at $9.84 1/4, down 1/2 cent, Jan 18 Soybeans closed at $9.95, down 1/4 cent, Mar 18 Soybeans closed at $10.04 3/4, down 1/4 cent, Jul 18 Soybeans closed at $10.21 1/2, down 1/2 cent, Dec 17 Soybean Meal closed at $321.80, up $0.20, Dec 17 Soybean Oil closed at $33.41, down $0.18