- Morning Grains Report 03/19/18
WHEAT General Comments Wheat markets were lower on Friday as forecasts for beneficial rains in the western Great Plains, mostly in Kansas for the first...
- Grains Falter In The Face Of Drought
Grains Falter In The Face Of Drought
- [Video Update] Inside MDA Premium Room - Mini S&P, Crude and Gold Trades Reviewed 3/19/18
Todays MDA Update: Published 3/19/18 10:30 am central: Traders, Here is a quick video of the MDA Premium Trading Chat room where I present my MDA Snapshot...
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Wheat futures settled with 9 to 15 1/4 cent losses in the MPLS contracts, as Chicago SRW was down 15 to 17 cents. KC HRW contracts were hit the hardest, as the nearby contracts neared limit lower moves, down 25 to 29 1/4 cents. Much needed rains developed across Kansas on Sunday into this morning. Parts of south-central KS saw almost 2 inches, with the far western areas receiving little moisture. State condition reports showed improvement in OK ratings for the week that ended on Sunday, with TX and KS shown deteriorating. However, conditions have likely improved in parts of KS since the rating were taken. Export inspections of wheat during the week of 3/15 totaled 443,269 MT, 3.37% larger than last week but 31.9% lower than a year ago. Japan is seeking 127,338 MT of wheat from the US and Canada, with the weekly MOA tender to close on Thursday. Most of that total is sought from the US at 91,942 MT.May 18 CBOT Wheat closed at $4.50 3/4, down 17 cents,May 18 KCBT Wheat closed at $4.70 1/4, down 29 1/4 cents,May 18 MGEX Wheat closed at $5.96 1/2, down 15 1/4 cents
Soybean futures ended Monday with sharp losses of 26 to 27 cents in the nearby contracts, as Nov was down 18 1/4 cents. Front Month soy meal was $14.30/ton lower, with May soy oil 8 points higher. Rains passed through Argentina this weekend causing some selling pressure, though for most of the crop it may too late. This morning’s USDA Export Inspections report indicated that just 490,536 MT of 17/18 soybeans were shipped for the week that ended 3/15. That was down 47.36% from a week ago and 30.08% lower than this week in 2017.May 18 Soybeans closed at $10.22 1/2, down 27 cents,Jul 18 Soybeans closed at $10.33 1/2, down 26 3/4 cents,Aug 18 Soybeans closed at $10.35 1/4, down 26 cents,Nov 18 Soybeans closed at $10.22 3/4, down 18 1/4 cents,May 18 Soybean Meal closed at $358.60, down $14.30,May 18 Soybean Oil closed at $32.06, up $0.08
Corn futures closed the Monday session with most contracts 5 to 7 3/4 cents in the red, with pressure coming from wheat and soybeans. Separate private export sales of 115,000 MT of 17/18 corn to unknown destinations and 206,000 MT of 18/19 corn to Japan were reported by the USDA this morning. The USDA also reported that 1.409 MMT of US corn was inspected for export during the week of 3/15. That was 2.33% larger than the previous week and 3.78% above the same time last year.May 18 Corn closed at $3.75, down 7 3/4 cents,Jul 18 Corn closed at $3.83 1/4, down 7 3/4 cents,Sep 18 Corn closed at $3.90, down 6 3/4 centsDec 18 Corn closed at $3.97 1/2, down 6 1/4 cents