- Grain Markets Rally on Strong Crush Report
Grain Markets Rally on Strong Crush Report
- Wheat (ZW) Weekly MACD Green Line Flattening
Wheat (ZW) rallied 1.5% yesterday, and appears close to completing a month and a half bottoming effort (as seen on the weekly chart). A laggard in the...
- TGPivots or Key Support & Resistance Levels for Futures Instruments
The most comprehensive set of numbers you will ever get for the futures markets
cmdty Insider - Ag Market Commentary
Wheat futures are trading 1 to 2 cents lower this morning. They ended Monday with most contracts 4 1/2 to 7 3/4 cents higher. The USDA weekly Export Inspections report showed 450,980 MT shipped in the week ending Oct 11. That was slightly higher than the previous week and 38.48% better than this time last year. NASS reported that 65% of the winter wheat crop was planted as of the 14th, lagging the average pace by 2% as rains in the Plains slows progress. Emergence was 3% faster than normal at 44%. Russia’s IKAR added 0.7 MMT to their country’s wheat production estimate, now at 70.5 MMT. That is less than a week after USDA trimmed their projection to 70 MMT.--provided by Brugler Marketing & Management, Call (402) 289-2330
Soybean futures are currently 7 cents lower on Turnaround Tuesday profit taking after jumping 22 to 24 cents higher on Monday. They got bullish news from a slow harvest, large September NOPA crush and exports picking up. Surprisingly, preliminary open interest rose only 2,422 contracts despite the large price move. Nearby soy meal was up $10.10/ton, with soy oil 37 points higher. Soybean export inspections in the week that ended on 10/11 were 1.158 MMT. That was more than double the previous week but down 35.18% from the same week in 2017. Monday morning’s NOPA report showed that members crushed 160.779 mbu of soybeans during September. That was 17.86% larger than last year. September soy oil stocks were 1.531 billion pounds and 5.68% lower than August. USDA reported harvest 38% complete, with the normal pace at 53% for this date. Condition ratings for soybeans were 2% lower at 66% gd/ex and down 4 on the Brugler500 at 370. Some WCB states showed significant declines, such as MO and IA.--provided by Brugler Marketing & Management (402) 289-2330
Corn futures are mostly 2 cents lower this morning. They had 4 1/2 cent gains in most front months on Monday. The buying was mostly short covering, with preliminary open interest dropping 13,438 contracts. USDA weekly Export Inspections totaled 996,643 MT. That was down 28.03% from the week prior but nearly triple the same week last year. The weekly Crop Progress report yesterday afternoon indicated that 96% of the US corn crop was mature, ahead of the 91% average. It was also reported that 39% was harvested, exceeding the average pace @ 35%. Condition ratings were left UNCH at 68% gd/ex and 373 on the Brugler500 Index. That Index reading is consistent with above trend yield but 2016, 2015 and 2014 were all higher. --Call Brugler Marketing & Management @ (402) 289-2330 with questions or news tips.