- Meal Squeeze over? Bean buck rally, Meat hedgers get ready.
Good Volatile Friday Folks,
- The Cullen Outlook – Soybean Oil (2-21)
Have a look and TRADE IT WHEN YOU SEE IT!!!
- Morning Grain Market Research
It was nice to be greeted by green across my quote screen this morning and if we can hold the strength for the close would also be an encouraging way to...
- LOCAL TRADER - GOLD
FED BRINGS A STRONGER USD
- Corn is No Longer King. The Corn & Ethanol Report 02/23/18
We kickoff the day with Export Sales at 7:30 A.M. and later in the afternoon we have the Cattle on Feed at 2:00 P.M. It is planting season and talks...
- GANN Analysis of S&P 500, Gold And Corn Futures
Price action trumps any fundamentals.
Brugler reportGet the Newsletter
Corn futures are steady to fractionally lower on Friday. A private export sale of 115,000 MT was reported by the USDA to Egypt for 17/18 delivery. This morning's USDA Export Sales report indicated that the US sold 1.555 MMT of old crop corn during the week of 2/15. That was down 21.21% from the previous week but more than double the same time in 2017. New crop sales totaled 65,532 MT. The USDA expects to see a US national average yield of 174 bpa in 18/19 in their annual Ag Outlook Forum, vs. 176.6 bpa in 17/18. China imported 560,000 MT of sorghum in January according to their customs data, the most in 6 months. They have subsequently launched an anti-dumping investigation that is likely to put the brakes on imports.Mar 18 Corn is at $3.66 3/4, unch,May 18 Corn is at $3.74 3/4, unch ,Jul 18 Corn is at $3.82 1/2, unch ,Sep 18 Corn is at $3.89 1/4, down 1/4 cent
Soybean futures are mostly5 to 7 cents higher at midday. Soy meal futures are up $1.10/ton, with nearby soy oil 35 points in the green. A private export sale of 106,000 MT of soybeans was reported to unknown destinations this morning, with 40,000 MT for 17/18 and 66,000 MT for 18/19. The USDA showed a total of 109,144 MT in net reductions for old crop soybean export sales during the week of 2/15. That came mainly from a net reduction in sales to China of 361,734 MT and Unknown destinations of 123,200 MT. Meal sales totaled 131,922 MT, with soy oil at 42,914 MT in sales. In the annual Ag Outlook Forum, the USDA expects the US soybean yield to average 48.5 bpa in 18/19. Analyst's with Brazilian firm AgroConsult now expect to see the country's production near 117.5 MMT, up 3.4 MMT from their previous estimate.Mar 18 Soybeans are at $10.38 3/4, up 6 3/4 cents,May 18 Soybeans are at $10.49 3/4, up 6 1/2 cents,Jul 18 Soybeans are at $10.58 1/2, up 6 cents,Aug 18 Soybeans are at $10.58 3/4, up 5 3/4 cents,Mar 18 Soybean Meal is at $378.00, up $1.10,Mar 18 Soybean Oil is at $32.39, up $0.35
Wheat futures are trading as much as a penny higher in CBT, with MPLS and KC wheat down 1 to 2 cents. All wheat export sales totaled 328,859 MT during the week that ended Feb 15. That was a 5.7% increase over the previous week but down 27.1% from the same time last year. New crop sales were tallied at 53,600 MT. Sales of 150,000 MT were reported to the Philippines. The USDA released a projection of 47.4 bpa for the US national yield, up from 46.3 bpa last year. The 18/19 carry out is expected to be trimmed 78 mbu from 17/18 to 931 mbu.Mar 18 CBOT Wheat is at $4.52 1/2, up 1 1/4 cents,Mar 18 KCBT Wheat is at $4.69 1/4, down 1 1/2 cents,Mar 18 MGEX Wheat is at $6.01 3/4, down 1 1/4 cents