- Paragon Investments' Futures File: Milk, Soybeans & U.S. Dollar
Our weekly column looks at recent news in Milk, Soybeans & U.S. Dollar
- The Golden Trade
THIS LOOKS LIKE AN OLD FASHIONED TURKEY TROTT
- MDA SnapShot: Long 30yr Bond Trade Update, 11/22/17
The post MDA SnapShot: Long 30yr Bond Trade Update, 11/22/17 appeared first on Daniels Trading. Position Update Published 11/22/17 2:20 pm central: Traders,...
- Let's give Thanks, confidence in System? Change,
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- The Cullen Outlook – Formation Finder (KC Wheat) 11-17
The post The Cullen Outlook – Formation Finder (KC Wheat) 11-17 appeared first on Daniels Trading. I believe it is time to turn our attention to a possible...
- Morning Grains Report 11/22/17
WHEAT General Comments: Wheat closed higher in all three markets, with the best strength in Winter Wheat contracts. There was a news story out about a...
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Soybean futures finished the Wednesday trade session with most contracts 6 to 8 1/4 cents in the green. December meal was up $6.10/ton, with nearby bean oil down 12 points. Rains in South America this past week missed a chunk of Argentina. A possible La Nina pattern could leave the country much cooler and/or drier than normal early, hurting yields. On Friday, the delayed USDA Export Sales report is expected to show 17/18 soybean sales of 1-1.4 MMT during the week ending 11/16. There are also 0-100,000 MT estimated in 18/19 sales. Soy meal export sales are projected to run 100,000-300,000 MT, with soy oil expected at 0-22,000 MT. The market will be closed on Thursday in observance of Thanksgiving, with Friday showing an early close around noon CST.Jan 18 Soybeans closed at $9.97 1/4, up 8 1/4 cents,Mar 18 Soybeans closed at $10.08 1/2, up 8 1/4 cents,May 18 Soybeans closed at $10.18 1/4, up 8 1/4 cents,Aug 18 Soybeans closed at $10.26 1/4, up 7 1/2 cents,Dec 17 Soybean Meal closed at $324.40, up $6.10,Dec 17 Soybean Oil closed at $34.05, down $0.12
Wheat futures were mixed on Wednesday, with KC higher and CBT and MPLS lower in the front months. The USDA is expected to indicate 350,000-550,000 MT in all wheat export sales on Friday for the week ending Nov 16. The Bureau of Meteorology in Australia estimates a 70% chance of a La Nina pattern starting in December. That would most likely bring warmer and wetter summers to that country, giving much needed moisture to the area. It would not be a major factor for 2017 wheat, which is already being harvested.Dec 17 CBOT Wheat closed at $4.22 3/4, down 2 cents,Dec 17 KCBT Wheat closed at $4.21, up 3/4 cent,Dec 17 MGEX Wheat closed at $6.26 3/4, down 1/4 cent
Corn futures ended the pre-Thanksgiving session with most contracts steady to a penny higher. They showed little reaction to last week’s record ethanol production (corn use >111 mbu for the week using a 2.84 gal/bu yield), as huge stocks and large US production are weighing on the market. This morning’s weekly EIA report indicated a record 1.074 million barrels per day of ethanol was produced during the week of November 17. That blew past the previous record of 1.06 million bpd, as ethanol stocks rose 400,000 barrels to 21.897 million barrels. Corn export sales during the week of 11/16 are projected to come in at 0.9 to 1.3 MMT in Friday morning’s Export sales report, based on trade surveys.Dec 17 Corn closed at $3.45 1/4, up 1/4 cent,Mar 18 Corn closed at $3.57, up 3/4 cent,May 18 Corn closed at $3.65 1/4, up 3/4 centJul 18 Corn closed at $3.73 1/4, up 1 cent