Grains Futures Prices
Sat, Mar 25th, 2017
[[ timeframe ]] futures price quotes as of Sat, Mar 25th, 2017.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
- Paragon Investments' Futures File: Brazil Beef, Keystone XL, & USDA
News this week focused on political moves in Brazil & Washington, affecting cattle, oil and the USDA.
- LONG Bean Oil -- Inverse Head & Shoulders
Good entry point for Long
- Soybeans Break Major Support
Going even lower
Brugler reportGet the Newsletter
Corn futures traded steady to fractionally lower on Friday. Since last week, May 17 lost 11 1/4 cents (3.06%) and posted a new low for 2017. In the weekly Commitment of Traders report, as of Tuesday managed money accounts were shown to add 58,089 contracts to their net short position in corn options and futures. This is the largest net short position reported for that group since early January. A Bloomberg survey of analysts has the average estimated corn acreage figure ahead of next Fridays Planting Intentions report at 90.9 million acres. The range was from 89 to 92.5 million acres. Total corn commitments are 83% of the USDA projection for total exports; vs. 66% last year at this point and the five-year average of 79%. Brazil ethanol production for the first half of March is down 28% from the same time in 2016, according to the UNICA. May 17 Corn settled at $3.56 1/4, down 1/2 cent, Jul 17 Corn settled at $3.63 3/4, down 3/4 cent, Sep 17 Corn settled at $3.71 1/2, down 1/2 cent Dec 17 Corn settled at $3.79 1/2, down 1/2 cent
Soybean futures lost 14 to 15 cents on Friday to net a weekly loss of 24 1/4 cents. May17 beans lost 15 1/4 cents, amid reports of rainfall in parts of Brazil. That contract dropped to its lowest price since mid-October. Soymeal futures were down $2.50 on the day and 3.25% on the week. Soy oil dropped 99 points on Friday. Bloomberg calls for 88.3 million acres for 2017 US soybean acreage in their survey of analysts, with a range of 86.4 to 90.2 million acres. Managed money accounts reduced their net long position by 32,685 contracts in soybean options and futures. Their net long position of 65,669 contracts is the smallest reported since early October 2016. Total soybean export commits are now 98% of the US estimated 16/17 export total. That is 12% higher than the same time last year and 5% ahead of the five-year average. May 17 Soybeans settled at $9.75 3/4, down 15 1/4 cents, Jul 17 Soybeans settled at $9.86 1/4, down 15 1/4 cents, Aug 17 Soybeans settled at $9.88 1/2, down 15 1/4 cents, Sep 17 Soybeans settled at $9.82, down 14 3/4 cents, May 17 Soybean Meal settled at $318.20, down $2.50, May 17 Soybean Oil settled at $32.23, down $0.99
Wheat futures closed the week with losses in MPLS and gains in CHI. Since last Friday, KC dropped 5.62%, CHI lost 2.64% and MPLS was down 2.41%. All wheat acreage is estimated to be 46.1 million acres, according to the average in Bloomberg’s survey of analysts. Satellite imagery firm, Planalytics, released forecasts for winter wheat yield at 48.2 bu/ac, vs. 55.3 bu/ac last year. In CHI wheat options and futures, managed money accounts increased their net short position 20,376 contracts; while in KC wheat they reduced their net long position by 10,031 contracts. Total commitments for wheat are 93% of projected exports, behind both last years and the five-year average of 97%. Taiwan purchased 98,200 MT of US milling wheat on Friday. Coceral estimates EU 2017 soft wheat production at 144.8 MMT, which would be up 7% from the previous year. French winter wheat conditions are estimated at 90% good/excellent, down 2% from last week. May 17 CBOT Wheat settled at $4.24 3/4, up 3 3/4 cents, May 17 KCBT Wheat settled at $4.28, unch, May 17 MGEX Wheat settled at $5.35 3/4, down 5 cents