- Grains Report 03/18/19
WHEAT General Comments Winter Wheat markets were higher and Minneapolis Spring Wheat prices closed slightly lower for the week. Chicago SRW prices are...
- Ethanol Prices at Two Decade Low. The Corn & Ethanol Report 03/18/19
Another delay in U.S.-China trade talks after promising news from China’s State Run Media on Friday that the deal was imminent while the Grain did [...]...
- Morning Grain Market Research
Grain and soy market tried to extend the winning streak into another week overnight but appear to have run into a little headwind at this time. That should...
Futures Market News and Commentary
Corn futures saw fractional to 1 3/4 cent losses in most contracts on Monday. Midwest flooding is further delaying the likely start of planting. It is still very early, however. The weekly Export Inspections report from USDA showed corn shipments in the week of 3/14 down from the week prior at 795,241 MT, which was 44.75% below the same week in 2018. YTD exports are still 25.71% above a year ago at 27.397 MMT (1.079 bbu). State by State Crop Progress data shows the Southern most states (TX, MS, LA, and AR) all lagging a year ago for planting progress, though it is still early even for those states.May 19 Corn closed at $3.71 1/2, down 1 3/4 cents,Jul 19 Corn closed at $3.80 3/4, down 1 1/2 cents,Sep 19 Corn closed at $3.87 1/2, down 1 1/4 centsDec 19 Corn closed at $3.94 3/4, down 1 1/4 cents--provided by Brugler Marketing & Management
Soybean futures closed with 3 to 3 3/4 cent losses in most front months on Monday. Meal futures were down $1/ton, with soy oil up 1 point. USDA showed Export Inspections of 841,888 MT to all destinations during the week of March 14. That was slightly lower than a week ago but 68.23% larger than the same week last year. Of that total, 268,930 MT was headed to China, with 173,737 MT shipped to Egypt. Heavy rains have slowed the Brazilian harvest in Parana state (Brazil) but the country as a whole is still further advanced than average for this date. Safras & Mercado estimates Brazil’s soybean harvest at 61.8% complete, vs. the 55.1% average. They also project the 2018/19 production total at 115.85 MMT.May 19 Soybeans closed at $9.05 3/4, down 3 1/2 cents,Jul 19 Soybeans closed at $9.19 1/4, down 3 3/4 cents,Aug 19 Soybeans closed at $9.25 1/2, down 3 1/4 cents,Nov 19 Soybeans closed at $9.39, down 3 1/2 cents,May 19 Soybean Meal closed at $309.80, down $1.00,May 19 Soybean Oil closed at $29.44, up $0.01--provided by Brugler Marketing & Management
Wheat futures were 2 to 6 1/2 cents lower in most winter wheat contracts on Monday, as export data disappointed the bulls amid the recent price breakdown. MPLS was up 2 to 6 cents on planting weather concerns. This morning’s USDA Export Inspections report indicated that 353,727 MT of all wheat was shipped in the week that ended on March 14. That was a 42.2% drop from the week previous and 20.5% below the same week in 2018. Inspections YTD are lagging a year ago by 6.17%, at 17.976 MMT (660.5 mbu). Individual State Crop Progress reports show KS winter wheat ratings down 2% to 49% gd/ex, with OK and TX both improved. Ethiopia is seeking 400,000 MT in a tender that expires on April 19.May 19 CBOT Wheat closed at $4.56 3/4, down 5 1/2 cents,May 19 KCBT Wheat closed at $4.36 1/2, down 6 1/2 cents,May 19 MGEX Wheat closed at $5.60 3/4, up 6 cents--provided by Brugler Marketing & Management