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- Livestock Report
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first income tax bill over the last 20 years Normal 0 false false false EN-US X-NONE...
- Soybean Commentary - Just My Opinion
Soybean Meal continues to be the deal!!
- Morning Grains Report 01/18/18
DJ USDA Monthly Grain Inspections: Exported By Rail – Jan 17 MS_GR210 Minneapolis, MN Wed Jan 17, 2018 USDA MARKET NEWS GRAINS INSPECTED AND/OR WEIGHED...
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Soybean futures settled with gains of 4 to 5 cents in most contracts on Thursday. Meal futures are up $4.10/ton, with nearby soy oil down 28 points. A survey of farmers by Farm Futures shows projections for the 18/19 US soybean acreage at 90.1 million acres, UNCH from a year ago. Analysts are expecting to see the first full non-Holiday week of 2018 show 0.6-1 MMT in old crop soybean export sales. There is also 0.2-0.4 MMT seen for new crop sales. During the week of Jan 11, the USDA reported private sales of 449,000 MT for old crop and 195,000 MT for new crop sales. Estimates for soy meal are at 100,000-300,000 MT, with 8,000-25,000 MT for soy oil. The USDA numbers will be out tomorrow morning.Mar 18 Soybeans closed at $9.73, up 4 1/4 cents,May 18 Soybeans closed at $9.84 1/4, up 4 1/4 cents,Jul 18 Soybeans closed at $9.94, up 4 1/2 cents,Sep 18 Soybeans closed at $9.94 1/2, up 5 cents,Mar 18 Soybean Meal closed at $328.40, up $4.10,Mar 18 Soybean Oil closed at $32.23, down $0.28
Wheat futures were 2 to 4 cents higher in most KC and CBT winter wheat contracts, as MPLS spring wheat was slightly lower in the front months. Coming off last week’s MY low, traders are expecting the USDA to show 200,000-500,000 MT in all wheat export sales for the week of Jan 11 in Friday’s Export Sales report. All wheat acres in 2018/19 are expected to climb to 46.8 million acres according to a Farm Futures survey. That is up 800,000 acres from last year, on larger spring wheat acreage. Japan purchased 24,160 MT of US wheat in their recent MOA tender that saw a total 91,733 MT purchased from Australia, Canada, and the US. The IGC now expects the 17/18 world wheat crop to total 757 MMT, up 8 MMT from their previous report.Mar 18 CBOT Wheat closed at $4.25 1/4, up 3 3/4 cents,Mar 18 KCBT Wheat closed at $4.29 1/2, up 2 1/2 cents,Mar 18 MGEX Wheat closed at $6.10 1/2, down 1 1/4 cents
Corn futures closed the Thursday session with most contracts 1 to 1 1/2 cents lower. The weekly EIA report showed ethanol production recovering 65,000 barrels per day to 1.061 million bpd. That is the largest week to week improvement on record. Stocks of ethanol rose just 24,000 barrels to 22.743 million barrels during the week of Jan 12. Old Crop corn export sales are seen at 500,000-800,000 MT for the week of Jan 11, with the USDA already showing private sales of 442,100 MT for that week. That report will be out tomorrow morning. A Farm Futures survey shows 18/19 corn acreage expectations of 90.1 million acres, down 100,000 acres from 17/18. The International Grains Council raised their projection for 2017/18 world corn production 14 MMT to 1.054 MMT, with increases in the EU and China.Mar 18 Corn closed at $3.51 1/2, down 1 1/2 cents,May 18 Corn closed at $3.59 1/2, down 1 1/2 cents,Jul 18 Corn closed at $3.67 3/4, down 1 1/2 centsSep 18 Corn closed at $3.75 1/4, down 1 1/2 cents