- How to Hedge or Spec for Fridays Prospective Planting Report
If you are nervous and want to protect some new crop prices before the planting report on Friday, here is what you can do.
- Soybeans - Just My Opinion
Who will buy my Soybeans
- Morning Grain Market Research
This will sound like a familiar theme, but it would appear that the grain/soy markets remain in an overall holding pattern as we await government reports...
- Moving Targets
Believe It or Not!
- Daily Technical Spotlight - May Soybeans
Price downtrend still in place, but bulls working to keep price action sideways.
- Russia Raises the Stakes. The Corn & Ethanol Report 03/26/19
We start of Turnaround Tuesday with no recession talk at the moment with the Stock Market and Crude Oil prices rolling. At 7:30 A.M. we [...]
Futures Market News and Commentary
Corn futures are showing 1 to 2 cent losses at midday on Turnaround Tuesday. Trade estimates for this Friday’s Planting Intentions report are averaging 91.332 million corn acres, with a range of 89.5 to 92.7 million acres. That would be up more than 2 million from last year if realized. Analysts also estimate March 1 corn stocks at 8.335 bbu, a drop of 557 mbu from the same time a year ago. USDA is unlikely to reflect grain lost to flooding in this report, as many bins are still unreachable and the survey was done at the beginning of the month. Individual state Crop Progress reports last night showed most Southern states (TX-38%, LA-50%, and MS-18%) other than AR (3%) are above their respective averages for planting progress, though they are all below last year.May 19 Corn is at $3.77 3/4, down 2 cents,Jul 19 Corn is at $3.87 1/2, down 1 3/4 cents,Sep 19 Corn is at $3.93 1/2, down 1 3/4 centsDec 19 Corn is at $4.00 1/2, down 1 1/4 cents--provided by Brugler Marketing & Management
Soybean futures are trading 5 to 6 cents lower in the front months on Tuesday. Meal futures are down $3.20/ton, with soy oil down 19 points. Ahead of Friday’s USDA Planting Intentions report, traders are expecting US producers to plant 86.17 million soybean acres in 2019. If realized, that would be a drop of nearly 3 million acres from last year. The quarterly Grain Stocks report will also be released, with analysts at 2.728 bbu for March 1 soybean stocks, up 619 mbu from the same time in 2018. May 19 Soybeans are at $9.00 1/2, down 6 cents,Jul 19 Soybeans are at $9.14, down 6 cents,Aug 19 Soybeans are at $9.20 3/4, down 5 1/4 cents,Sep 19 Soybeans are at $9.25 1/4, down 5 1/2 cents,May 19 Soybean Meal is at $311.90, down $3.20,May 19 Soybean Oil is at $28.63, down $0.19--provided by Brugler Marketing & Management
Wheat futures are up 1 to 3 1/2 cents in the CBT contracts on expected sales to Egypt. KC and MPLS are steady to 2 1/2 cents lower. The average trade estimate for all wheat acreage in 2019 is 46.9 million acres, down 900,000 acre yr/yr. Of that total, spring wheat acreage is seen at 13.4 million acres. State by state Crop Progress reports show winter wheat ratings in the Southern Plains up from last week, with KS at 52% gd/ex (13% last year) and OK at 74% ( 9% LY), as TX was at 39% (vs. 12% LY). US wheat in Egypt’s GASC tender was the lowest among the offers on Tuesday, with results expected this afternoon. Ethiopia is tendering for 600,000 MT of wheat in a tender that closes on April 30.May 19 CBOT Wheat is at $4.73, up 3 1/2 cents,May 19 KCBT Wheat is at $4.47 1/2, down 1 3/4 cents,May 19 MGEX Wheat is at $5.70 3/4, down 2 1/2 cents--Provided by Brugler Marketing & Management