- Grains rebound on demand optimism
Export sales strong on the week, seen improving.
- Morning Grain Market Research
Was it just a one-day fling, or are buyers returning to engage in a bit of courting with the grain and soy markets? It would be premature to start making...
- Morning Grains Report 09/20/18
DJ Analysts’ Estimates for September USDA Cattle-On-Feed Report The following estimates, as compiled by the Wall Street Journal for the nation’s feedyards...
- Harvest Momentum
- Economy Rolling. The Corn & Ethanol Report 09/20/18
We kickoff the day with Export Sales and Jobless Claims at 7:30 A.M. followed by Existing Home Sales at 9:00 A.M. and EIA Gas Storage [...]
- Daily Grain Technicals & Fundamentals (9.20.18)
A relief rally, or a real rally?
cmdty Insider - Ag Market Commentary
Corn futures are showing 8 to 9 cent gains in most contracts on Thursday. USDA reported a private export sale of 160,020 MT of corn to Mexico for 18/19 delivery. This morning’s FAS Export Sales report indicated 1.384 MMT for 18/19 corn export bookings during the week of 9/13. That exceeded expectations and was more than 162.63% larger than the same week last year. Mexico purchased 344,600 MT, with South Korea buying 204,300 MT. There was also 9,653 MT in 19/20 sales. A Chinese auction from state reserves saw sales of ~3 MMT on Thursday, totaling 75.45% of the offered amount. The 6-10 day outlook shows above average chances for moisture.DEC 18 Corn is at $3.54 3/4, up 9 cents,MAR 19 Corn is at $3.66 3/4, up 8 3/4 cents,MAY 19 Corn is at $3.75 1/4, up 8 3/4 centsJUL 19 Corn is at $3.81, up 8 cents
Wheat futures are steady to 2 cents in the green in most contracts on Thursday. Weakness in the US dollar index is providing a little support at midday, along with strength in corn. The weekly Export Sales report showed all wheat bookings during the week of 9/13 at 468,433 MT, on the high side of trade estimates. That was a 20.9% jump from the week prior and 52.5% larger than the same week in 2017. The Philippines purchased 80,000 MT, with Indonesia buying 70,000 MT and Vietnam in for 61,000 MT. We are now through week 15, with still no reported sales for 19/20.DEC 18 CBOT Wheat is at $5.23 3/4, up 1 1/4 cents,DEC 18 KCBT Wheat is at $5.27 1/4, up 1 cent,DEC 18 MGEX Wheat is at $5.88 1/2, up 1/2 cent
Soybean futures are trading 17 to 19 cents higher at midday, supported by short covering and good export numbers. China is planning to trim their average tariff rate on imports from trading partners as soon as Oct according to a Bloomberg report, though no word on if it includes the US. Soybean meal is up $4/ton, while soy oil is 31 points in the green. Export sales for 18/19 soybeans totaled 917,556 MT in the week that ended on 9/13, slightly above the range of trade estimates. That was well short of last year, but above the week prior. Sales to China were shown at a net reduction of 4,000 MT, with Mexico the lead buyer of 165,600 MT. Sales of 19/20 soybeans were reported at 80,000 MT. Soy meal sales totaled 137,356 MT, with 18,122 MT in soy oil sales. Showers over the next week or so could slow harvest.NOV 18 Soybeans are at $8.49, up 19 cents,JAN 19 Soybeans are at $8.61 1/2, up 17 3/4 cents,MAR 19 Soybeans are at $8.75, up 17 3/4 cents,MAY 19 Soybeans are at $8.87 3/4, up 17 1/2 cents,OCT 18 Soybean Meal is at $311.20, up $4.80,OCT 18 Soybean Oil is at $27.67, up $0.42