- 23-07-2018 Week - Bitcoin - Gold - Corn
A breif look at this week.
- Grain Spreads: Stem the Tide
Grains bounce back:somewhat
- Metals, Minis, And Oil - Plus Wheat And Soybeans
Summary We are looking for buy gold signals to be activated above the B1 level of $1242. The silver market came down to $15.70 at about 5 a.m., almost...
- Morning Grains Report 07/20/18
WHEAT General Comments Wheat markets were higher yesterday as export sales improved amid increasing world prices. The market is trying to complete a bottom...
- Morning Grain Market Research
In a show of resiliency that we have witnessed very rarely as of late, the grain/soy markets shook off the early pressure yesterday and posted higher closes...
- Ping Pong Tariff Talk. The Corn & Ethanol Report 07/20/18
Late reports today and start at 2:00 P.M., beginning with Catfish Production, Cattle and Cattle on Feed followed by Milk production. On the Corn front...
Agricharts Market Commentary
Wheat futures posted 11 to 12 cent gains in most CBT and KC contracts on Friday. MPLS was the leader, up 16 to 18 1/4 cents. The US dollar provided support, down 700 points on the day. On the week, September saw gains of 3.82% in CBT, with KC up 3.41% and MPLS 4.37% higher. Spec funds in CBT wheat futures and options flipped to a net long position of 3,557 contracts in the week that ended on Tuesday. They were net long 17,928 contracts in KC wheat. Taiwan is seeking 102,775 MT of US wheat in a tender that will close next Thursday. Japan has lifted the temporary ban on Canadian wheat imports following last month’s discovery of some GMO wheat in Canada. Sep 18 CBOT Wheat closed at $5.16, up 11 3/4 cents,Sep 18 KCBT Wheat closed at $5.08 1/2, up 12 cents,Sep 18 MGEX Wheat closed at $5.55, up 18 1/4 cents
Soybean futures ended Friday with most contracts 3 to 4 cents higher, shrugging off pressure from more belligerent trade talk. August was up 3.79% on a week that saw only higher daily closes. Nearby soy meal was down $1.90/ton, with soy oil 39 points higher. A report after the close had Treasury Secretary Mnuchin stating the US is ready to make a trade deal with China if they were sincere on making changes. The 6-10 day outlook is showing forecasts for cooler and drier weather for much of the Midwest. Money managers in soybean futures and options added another 5,152 contracts to their net short position as of July 17 to -58,399 contracts.Aug 18 Soybeans closed at $8.49 3/4, up 3 3/4 cents,Sep 18 Soybeans closed at $8.55 1/4, up 3 1/4 cents,Nov 18 Soybeans closed at $8.64 3/4, up 3 1/4 cents,Mar 19 Soybeans closed at $8.83 3/4, up 3 cents,Aug 18 Soybean Meal closed at $326.90, down $1.90,Aug 18 Soybean Oil closed at $28.22, up $0.39
Corn futures closed the week with most contracts 3 to 4 cents higher on Friday. Nearby September was up 4.1% since last Friday, with higher closes every day this week. Solid exports and drier weather fueled some bottom picking and short covering action. This afternoon’s CFTC Commitment of Traders report showed spec funds in corn futures and options adding another 24,947 contracts to their net short position. That net position stood at -129,323 contracts as of Tuesday. China sold another 1.102 MMT of corn from state reserves at an auction of state reserves on Friday, totaling 28.29% of the offered amount.Sep 18 Corn closed at $3.55 1/4, up 4 cents,Dec 18 Corn closed at $3.69, up 4 cents,Mar 19 Corn closed at $3.80, up 3 1/2 centsMay 19 Corn closed at $3.86 1/4, up 3 1/2 cents