- 2018-06-25 Week - Bonds - Stocks - Oil - Gold - Bitcoin - Corn
Brief look at bonds, stocks, oil, and gold. I repeat myself on Corn and Bitcoin for another week.
- Livestock Report
Quiet Friday in front of Cattle on Feed
- Was That A Spike Bottom In Soybeans ?
Is it too wet
- Grain Spreads: Strangle
Strangle should be looked at
- Morning Grain Market Research
I suspect there will be many in the U.S. farming community that will not be disappointed to see this week come to its conclusion after witnessing prices...
- Paragon Investments' Futures File: Platinum & Soy Drop
Our weekly column looks at declining prices for platinum and soybeans.
Agricharts Market Commentary
Wheat futures ended the Friday session 3 3/4 to 4 cents lower. Spec funds in Chicago wheat futures and options were reported at a net short position of -752 contracts in the week ending 6/19. That was a net move of 15,655 contracts from their previously held net long position. They trimmed their net long in KC wheat to 47,213 contracts. Philippines bought in 220,000 MT of feed wheat on Thursday, with origins likely Australia or the Black Sea region. The Buenos Aires Grain Exchange estimates that the Argentine wheat crop is 49% planted. Ukraine’s ag minister estimates the country’s 2018 wheat crop will total somewhere in the range of 23-26 MMT, down from last year’s harvest of 26.2 MMT.Jul 18 CBOT Wheat closed at $4.91 1/4, down 4 cents,Jul 18 KCBT Wheat closed at $4.88 3/4, down 4 1/2 cents,Jul 18 MGEX Wheat closed at $5.49, down 3 3/4 cents
Soybean futures settled 14 to 14 3/4 cents higher in the front months on Friday. Nearby July lost 1.21% since last Friday despite hitting a 9 1/2 year low on Tuesday. Front Month soy meal was up $7.30/ton, with soybean oil 2 points in the green. Managed money speculators cut 25,671 contracts off their net long position in soybean futures and options in the week 6/19, to flip to a net short position of -12,801 contracts. The EPA reportedly plans to increase biofuels blending mandate by 3% in 2019 to 19.88 billion gallons. Biodiesel is targeted at 2.43 billion gallons, up 330 million gallons. BAGE estimates that the 97.1% of the Argentina soybean crop is harvested.Jul 18 Soybeans closed at $8.94 1/2, up 14 cents,Aug 18 Soybeans closed at $9.00, up 14 1/2 cents,Sep 18 Soybeans closed at $9.06, up 14 3/4 cents,Jan 19 Soybeans closed at $9.25 1/4, up 14 3/4 cents,Jul 18 Soybean Meal closed at $339.10, up $7.30,Jul 18 Soybean Oil closed at $29.21, up $0.02
Corn futures closed Friday steady to fractionally mixed, as July was down 1.11% on the week. The USDA reported a private export sale of 131,300 MT of corn to Mexico this morning. The sale was broke down to 30,000 MT for delivery in 2017/18, with the remaining 101,300 MT set for 2018/19 shipment. There was also a sale of 117,000 MT for 2018/19 to Panama reported through the USDA’s daily reporting system. The 6-10 day outlook is forecasting above average temps and precip in most of the Corn Belt. China sold 739,954 MT of corn from state reserves on Friday, totaling 18.64% of the offered amount. Friday afternoon’s Commitment of Traders report showed spec funds flipping their net position in the week that ended on Tuesday. On that date, they had a net short position of -14,038 contracts in corn futures and options, a move of -50,254 contracts from the week prior.Jul 18 Corn closed at $3.57 1/4, up 1/4 cent,Sep 18 Corn closed at $3.66 1/2, unch,Dec 18 Corn closed at $3.78, down 1/4 centMar 19 Corn closed at $3.87 1/2, down 1/4 cent