- Is the Spring Low in for Corn?
Corn has been on the defense so far this week after posting a weekly reversal higher last week. The last Commitment of Traders report showed the funds...
- Livestock Report
Hogs consolidate, Feeders Strong
- Corn - Just My Opinion
Weather Supports vs. Lack of Business Resists
- Grains Report 03/19/19
DJ USDA Grain Inspections for Export in Metric Tons – Mar 18 COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
- Stay Calm
All is Well
- Happy St. Joseph’s Day. The Corn & Ethanol Report 03/19/19
We kickoff the day with Housing Starts & Permits at 7:30 A.M., API Energy Stocks at 3:30 P.M. and the FOMC meeting. Nebraska, Iowa and [...]
Futures Market News and Commentary
Soybean futures ended Tuesday with the front months steady to 1 3/4 cents lower. Meal futures were up $1/ton, with soy oil 20 points lower. Based on cmdtyView data, the national soybean index cash price is $8.16 3/4, down $1.27 1/2 from a year ago. The national basis is -86 cents, which is 8 cents weaker than the same time in 2018. Estimates for both Brazil and Argentina production were left UNCH by Dr. Michael Cordonnier at 113.5 MMT and 54 MMT respectively. End user association Abiove reduced their Brazilian soybean production estimate by 1 from their previous number to 116.9 MMTMay 19 Soybeans closed at $9.04, down 1 3/4 cents,Jul 19 Soybeans closed at $9.17 1/2, down 1 3/4 cents,Aug 19 Soybeans closed at $9.23 3/4, down 1 3/4 cents,Nov 19 Soybeans closed at $9.38 1/4, down 3/4 cent,May 19 Soybean Meal closed at $310.80, up $1.00,May 19 Soybean Oil closed at $29.24, down $0.20--provided by Brugler Marketing & Management
Wheat futures were fractionally to 2 1/2 cents lower in the winter wheat contracts on Tuesday. MPLS was firm to 4 1/2 cents higher. There is still significant snow cover in the Dakotas and Minnesota. As it melts, water levels are rising in that area. US FOB prices were below French as of last night, but evidence of improved export sales is what the market wants and has not seen. Brazil will begin allowing importation of 750,000 MT of US wheat under a tariff rate quota following a meeting between President Trump and Brazil’s President Bolsonaro on Tuesday.May 19 CBOT Wheat closed at $4.56 1/2, down 1/4 cent,May 19 KCBT Wheat closed at $4.35 3/4, down 3/4 cent,May 19 MGEX Wheat closed at $5.65 1/4, up 4 1/2 cents--provided by Brugler Marketing & Management
Corn futures closed Tuesday with most contracts fractionally mixed. The national average corn index cash price according to cmdtyView is at $3.40, nearly a dime lower than this day last year. That would put national basis at -28 1/2 cents, 9 1/2 cents stronger yr/yr. The weekly EIA report will be released on Wednesday morning per normal. Dr. Michael Cordonnier increased his Argentine corn production estimate by 1 to 45 MMT, while leaving his Brazil output number at 93.5 MMT.May 19 Corn closed at $3.71 1/4, down 1/4 cent,Jul 19 Corn closed at $3.80 3/4, unch,Sep 19 Corn closed at $3.87 1/2, unch,Dec 19 Corn closed at $3.95 1/4, up 1/2 cent--provided by Brugler Marketing & Management