- Cocoa, FC LC can't put em away?
with higher interest rates meaning rising inflation,
- Morning Grain Market Research
We seemed to experience some type of domino effect in the grain and soy markets yesterday. Heightened concerns about the dry and deteriorating conditions...
- 10 YR. yield above 3.0%. The Nemenoff Report 04/26/18
Financials: June Bonds are currently 18 higher at 142’10, 10 Yr. Notes 7.5 higher at 119’10 and the 5 Yr. Notes 4 higher at 113’13.5. [...] The post...
Brugler reportGet the Newsletter
Corn futures saw fractional to penny losses in most contracts on Thursday. The USDA reported a private export sale of 107,600 MT of corn for 17/18 delivery to unknown destinations this morning. The Export Sales report, however, indicated that just 697,073 MT of old crop corn was sold during the week of 4/19, shy of expectations. That was 7.84% lower than this time last year and down 36.15% from a week ago. New crop had a net reduction of 76,592 MT. Weekly shipments were tallied at 1.701 MMT, 20.78% larger than the same week in 2017. China sold another 2.681 MMT of corn from state reserves, totaling 89.87% of the offered amount. The International Grains Council added 2 MMT to their 18/19 world corn production estimate at 1.054 BMT. Their ending stocks projection was trimmed 3 MMT on larger consumption to 262 MMT.May 18 Corn closed at $3.86, down 1/2 cent,Jul 18 Corn closed at $3.95 1/4, down 1/2 cent,Sep 18 Corn closed at $4.02 1/4, down 3/4 centDec 18 Corn closed at $4.11 1/4, down 1 cent
Wheat futures closed the Thursday session with losses of 5 to 9 1/2 cents in the CBT and KC winter wheat contracts. MPLS was steady to 4 cents lower. All wheat export sales of old crop were 297,203 MT this morning, outpacing most estimates. That was much better than last week’s net reduction and 4.8 times as large as the sales total for this week last year. New crop sales were a MY high of 280,701 MT, within the range of expectations. Shipments of wheat were at a 29 week high 588,388 MT, but down 4% from this time a year ago. The IGC trimmed their 18/19 world wheat production estimate 2 MMT to 739 MMT. World ending stocks were increased 4 MMT to 257 MMT on larger 17/18 carryover.May 18 CBOT Wheat closed at $4.80 3/4, down 5 1/2 cents,May 18 KCBT Wheat closed at $5.01 3/4, down 5 1/4 cents,May 18 MGEX Wheat closed at $5.99 1/2, unch,
Soybean futures were unable to hold gains from earlier in the day, with nearby contracts steady to 1/2 cent higher and back months lower. Soy meal was up $3.00/ton, with front month soy oil 2 points in the green. This morning’s USDA Export Sales report showed just 371,303 MT of old crop soybean sales in the week that ended 4/19, short of analysts’ expectations. That was well below the previous week, but nearly 174.6% larger than this week in 2017. Net reductions of 9,800 MT were reported for China, as their buying typically switches to South American at this point in the year. New crop sales were also shy of estimates at 166,500 MT. Soybean exports for that week totaled 446,058 MT, a jump of 10.9% from the week prior and 25.6% larger than last year. Sales of soy meal totaled 264,501 MT, as soy oil was reported at 11,237 MT. The IGC expects 18/19 world soybean production to total 355 MMT, with ending stocks up 1 MMT to 40 MMT.May 18 Soybeans closed at $10.28, up 1/2 cent,Jul 18 Soybeans closed at $10.39 1/2, up 1/4 cent,Aug 18 Soybeans closed at $10.41 1/2, unch,Nov 18 Soybeans closed at $10.33 1/4, down 1 1/2 cents,May 18 Soybean Meal closed at $379.20, up $3.00,May 18 Soybean Oil closed at $30.81, up $0.02