- Morning Grain Market Research
I have a sneaky suspicion that bean oil was the tattler as it was the only kid in the grain and soy yard that was not taken back behind the woodshed for...
- Daily Technical Spotlight - May Corn
Serious chart damage inflicted to suggest near-term top is in place and that more downside pressure is coming.
- [Video] Quick Profile Scanner Review, Bears Still leading, 3/20/18
Today’s MDA Update: Published 3/20/18 9:15 am central: Traders, Below you will find a quick video highlighting the Bull and Bear scanner update that...
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Soybean futures ended Turnaround Tuesday with most contracts 2 to 5 3/4 cents higher. Front Month soy meal was up $3.10/ton, with May soy oil down 32 points. US soybean acreage is expected to be reported at 90.5 million acres next Thursday according to a private estimate. That would be slightly higher than the USDA Forum at 90 million acres. DTN reported the national average cash price at $9.44 1/2 on Monday afternoon, 23 1/4 cents higher than a year ago. That would make the national average basis -78 cents, just 1/4 cents stronger than last year. The USDA Ag Attach in China expects the country to import 100 MMT of soybeans during 18/19. Dr. Michael Cordonnier updated his Argentina soybean production estimate to 42 MMT, down 1 MMT from the previous projection. He also expects the Brazilian crop up 1 MMT at 115 MMT.May 18 Soybeans closed at $10.28 1/4, up 5 3/4 cents,Jul 18 Soybeans closed at $10.39, up 5 1/2 cents,Aug 18 Soybeans closed at $10.40 1/4, up 5 cents,Nov 18 Soybeans closed at $10.25, up 2 1/4 cents,May 18 Soybean Meal closed at $361.70, up $3.10,May 18 Soybean Oil closed at $31.74, down $0.32
Corn futures saw fractional losses in most contracts on Tuesday. A private export sale of 110,000 MT of corn was reported to Peru for 17/18 delivery by the USDA this morning. The weekly EIA report will be released on Wednesday morning, following record ethanol stocks in last week’s report. A private firm estimates that next week’s USDA Planting Intentions report will show 89 million acres of corn, down from the USDA Ag Forum’s 90 million acres. As of Monday evening, the national average cash price was reported at $3.38 according to DTN, 14 3/4 cents above last year. That puts the national average basis at -37 cents, 3 1/4 cents stronger than this time last year.May 18 Corn closed at $3.74 1/2, down 1/2 cent,Jul 18 Corn closed at $3.82 1/2, down 3/4 cent,Sep 18 Corn closed at $3.89 3/4, down 1/4 centDec 18 Corn closed at $3.97 1/4, down 1/4 cent
Wheat futures showed positive movement in most CBT contracts on Tuesday, as KC was fractionally lower. MPLS saw losses of 1 to 3 1/4 cents on the day. State condition reports showed improvement in OK ratings by 4 points to 212 on the Brugler500, with the gd/ex rating down 2% to 5%. For the week that ended on Sunday, TX lost 16 points to 215, with 10% of the crop now rated gd/ex. KS was shown deteriorating 3 points to 240 with a gd/ex rating of 11%. Russia exported 2.475 MMT of wheat during January, according to customs data. That was 27.67% larger than the same month in 2017.May 18 CBOT Wheat closed at $4.53, up 2 1/4 cents,May 18 KCBT Wheat closed at $4.70, down 1/4 cent,May 18 MGEX Wheat closed at $5.93 1/4, down 3 1/4 cents