- Soybean Harvest Around 65% Complete
Low volatility continues
- Wheat Prices to Test 360 Level
There is a potential for a calamitous collapse in Wheat prices for 2018.
- Morning Grain Market Research
While basically uneventful thus far, the market act as the skies here in Northern Illinois look this morning; rather dark and foreboding. Last Friday it...
- Does Wheat Have A Bounce In It?
Does Wheat Have A Bounce In It?
- Morning Grains Report 10/23/17
Alerts History • 20-Oct-2017 06:33:48 AM – U.S. EPA TELLS LAWMAKERS IT WILL KEEP RENEWABLE FUEL VOLUMES EQUAL OR GREATER TO PROPOSED VOLUMES – LETTER...
- MDA: 60 Minute Bull/Bear Profile Scanner Breakouts, 10/23/17
Today’s MDA Update: Published 10/23/17 9:15 am central: Traders, Here are the markets that are falling into the 60-minute profile Bull and Bear breakouts....
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Wheat futures are mostly 1 to 5 1/2 cents higher in most MGE wheat contracts, as CBT and KC are 7 to 9 1/4 cents in the green. All wheat exports during the week of October 19 fell to just 6.237 mbu. That was slightly better than half of the previous week’s inspections and 36.25% lower than the same week last year. Managed money spec funds in KC wheat futures and options went 5,505 contracts more bearish last week. They went home net short 4,662 contracts on October 17. In Chicago wheat futures and options, they increased the size of their CFTC net short position another 9,963 contracts to -77,692. Iraq purchased 50,000 MT of US wheat over the weekend. Dec 17 CBOT Wheat is at $4.35 1/4, up 9 1/4 cents, Dec 17 KCBT Wheat is at $4.32, up 9 1/4 cents, Dec 17 MGEX Wheat is at $6.16 3/4, up 5 1/2 cents
Corn futures are showing gains of 5 1/2 to 6 cents to start the week, more than erasing Friday losses. The USDA reported export shipments of 24.175 mbu for the week of October 19. That was nearly twice as much as the previous week and 11.39% larger than the same week last year. Expectations for this afternoon’s Crop Progress are showing the corn harvest around 40-45% complete vs. last week’s 28%. The CFTC Commitment of Traders report on Friday afternoon showed spec traders adding another 7,747 contracts to their net short position during the week that ended 10/17. Their net position on that date totaled -170,684 contracts in corn futures and options. Dec 17 Corn is at $3.50 1/2, up 6 cents, Mar 18 Corn is at $3.64 1/4, up 5 3/4 cents, May 18 Corn is at $3.72 3/4, up 5 1/2 cents Jul 18 Corn is at $3.80 1/4, up 5 1/2 cents
Soybean futures are currently 2 1/2 cents higher in most front months on Monday. December meal is down 50 cents/ton, with nearby bean oil 39 points higher. This morning’s USDA Export Inspections report indicated shipments at a marketing year high of 94.153 mbu. That is an increase of 43.48% over the previous week but lagging last year by 9.24%. Analysts are expecting the US soybean harvest to pick up closer to the average at 65-68% complete. The weekly COT report had spec traders adding another 37,186 contracts to their net long position in soybean futures and options. Their net position on Tuesday was net long 68,168 contracts. Ag Rural estimates that Brazil’s 2017/18 soybean crop is 20% planted vs. the average of 19%. The southern states have had more rain and are ahead of normal planting progress, but Mato Grosso still trails. Nov 17 Soybeans are at $9.81 1/4, up 2 1/2 cents, Jan 18 Soybeans are at $9.91 3/4, up 2 1/2 cents, Mar 18 Soybeans are at $10.01 3/4, up 2 1/2 cents, May 18 Soybeans are at $10.11, up 2 1/2 cents, Dec 17 Soybean Meal is at $316.60, down $0.50 Dec 17 Soybean Oil is at $34.55, up $0.39