Mon, Dec 10th, 2018
[[ timeframe ]] futures price quotes as of Mon, Dec 10th, 2018.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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Futures Market Commentary
Wheat futures are mostly 2 to 5 1/4 cents lower in the CBT and MPLS contracts at midday, with KC the firmest yet fractionally lower. USDA’s weekly Export Inspections report showed that exporters shipped 418,460 MT of wheat in the week that ended on 12/6. That was down 11.81% from last week but up 18% from this week in 2017. Total shipments marketed YTD (404.17 mbu) are 16.24% lower than a year ago but have been gaining over the past several weeks. Analysts are expecting USDA to peg 18/19 world ending stocks at 266.5 MMT ahead of Tuesday’s monthly update, slightly lower than November.Mar 19 CBOT Wheat is at $5.26, down 5 1/4 cents,Mar 19 KCBT Wheat is at $5.11 1/4, down 3/4 cent,Mar 19 MGEX Wheat is at $5.77 1/2, down 4 cents--provided by Brugler Marketing & Management
Corn futures are showing most contracts steady to fractionally mixed, with Dec up 1 3/4 cents ahead of Friday’s expiration. USDA reported a very large private export sale of 1,645,920 MT of corn to Mexico this morning. That was the fourth largest daily sale on record for corn, with 1.105 MT for 18/19 and the balance for 19/20. The weekly Export Inspections report indicated that 876,305 MT of corn was shipped in the week that ended on 12/6. The weekly export total was down 17.62% from last week but 22.06% larger than the same week in 2017. Accumulated exports are now 75.57% above year ago at 594.71 mbu.Dec 18 Corn is at $3.75 3/4, up 1 3/4 cents,Mar 19 Corn is at $3.85 1/2, unch ,May 19 Corn is at $3.92 3/4, unch ,Jul 19 Corn is at $3.99, down 1/4 cent--provided by Brugler Marketing & Management
Soybean futures are trading 1 to 4 cents lower on Monday, ahead of Tuesday’s WASDE report. Nearby soy meal is up 20 cents/ton, with soy oil 9 points higher, improving the crush spread. A private export sale of 125,000 MT of soybeans to unknown was reported by the USDA this morning. Their weekly updated to the Export Inspections report indicated that 922,094 MT of soybeans were exported in the week that ended on December 6. That was down 11.84% from the prior week and 25.83% lower than last year. MY to date, the inspections report has shown 521.04 mbu of soybeans shipped, down 41.17% from last year. A report from Bloomberg quoting anonymous surfaced and suggested China may buy 5-8 MMT of soybeans for state reserves and allow commercial users to purchase another 2 MMT with the tariff reimbursed. Official Chinese soybean imports in November were the smallest in two years at 5.4 MMT.Jan 19 Soybeans are at $9.12 3/4, down 4 cents,Mar 19 Soybeans are at $9.25 1/4, down 3 3/4 cents,May 19 Soybeans are at $9.37 3/4, down 4 cents,Jul 19 Soybeans are at $9.50, down 3 1/4 cents,Dec 18 Soybean Meal is at $309.30, up $0.20Dec 18 Soybean Oil is at $28.59, up $0.09--provided by Brugler Marketing & Management