BASIC & RECENT MARKET INFO

Tidbits U.S. inflation  at the retail level increased 0.3% in November, the most in 7 months, but the Federal Reserve is still expected to cut interest rates next week to support job growth. However, the decline in the inflation rate has come to an end and the Federal Reserve's inflation goal of 2% per year is well below the November annual rate of 3.6%.   Yesterday, the Bank of Canada reduced its base interest by 50 basis points (one-half percent) to 3.25%. Just a few months

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring), fuel , fertilizers for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close Tuesday, December 10 , 2024: March corn settled yesterday at $4.49, +16¾¢ since last Tuesday.

Highlights The USDA S&D numbers released yesterday were as neutral as can be for soybeans and wheat, but bullish for corn. When Roger saw the corn numbers, he told Olga corn should be up 10 to 15 cents higher. Corn was up 4 when the report was released and it was 5 to 6 higher for the first 15 minutes after the report was released. Late in the trading session, March corn did trade to $4.50 yesterday and settled at $4.49, up 7¼. March corn traded to $4.52¼ on 2 October after m

The numbers were: Friendly Corn Neutral Soybeans Neutral Wheat 17 Minutes After the Report: March Corn +4.75 January beans +2.25 March...

Tidbits Today at 10 AM Mountain Time, the USDA will issue its December S&D . If the U.S. corn carryover is reduced by 75 million bushels, which is possible to probable, the carryover will be reduced by 2 days for the second consecutive month and 6 days since September.    Market advisor Kevin Duling summarized his lengthy Monday market analysis this way: “Despite how things feel, from a fundamental standpoint, things are on pace. Exports have been amazing across the board on

Tidbits Bashar al-Assad  has ruled Syria for 24 years after his father ruled for 29 years until his death in 2000.  Bashar al-Assad fled to Russia Sunday after more than 11 years of civil war. Loyalists spoke with a sense of resignation about the implosion of his 24-year rule and with it, the end of decades of rule by minority Alawites - an offshoot of Shi'ite Islam - in majority Sunni Syria.   Opposition forces are asking for an 18 month cooling-off and re-organization perio

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. Dow Jones  Industrial Average Index settled at 44,643, -139.48 points for the week. Crude oil  settled at $67.17, -1.63. Dollar Index  settled at 105.97, -0.25. Baltic Dry Index  (a shipping freight-cost index)  settled at 1,167, -131 for the week. Corn March futures  at $4.40, +7½¢ for the week. Basis   (H = March; e.g. 10H means 10¢ over March futures) (Futures price + Basis = Cash pri

Donald "Doc" Sanders has been the Wright Family Veterinarian and friend since 1968. He has traveled the world as a dairy consultant to the World Bank, trained veterinarians, dairy farm managers and their staff in China, Japan, South Korea, Russia, Ukraine, Canada, Mexico, Puerto Rico, Colombia, and Nicaragua. He manages his 750 acres of prime crop land in the Mad River Valley in Champaign County of West Central Ohio. He is retired from practice now, but his service to the far

Tidbits A 25% tariff on imported Canadian crude oil  would have a major impact on North American energy markets, driving up prices for refiners in the U.S. Midwest and potentially hitting differentials for Canadian oil.   The U.S. imported about 4.0 million barrels of Canadian crude and petroleum products per day in 2024.   Refiners in the Midwest rely heavily on Canadian crude. Those facilities are configured to run heavier oil grades which are preferred for diesel fuel. Abo

Highlights OPEC+ on Thursday has postponed the revival of its oil production by three months, now set to begin in April 2025 instead of January 2025, marking the third such delay amid struggling crude prices and a potential surplus. The planned initial increase of 180,000 barrels per day will now be part of a slower unwinding of cuts expected to conclude in September 2026. Despite this delay, the UAE is permitted to gradually increase its production by 300,000 barrels per day

Tidbits Yesterday morning, the USDA reported the sale of 30,000 mts of old crop soybean oil and 35,000 mts of rice to South Korea.   Cargill began laying off employees across its operations on Tuesday in a drive to slash headcount by 5%. Cargill is facing a downturn in returns in cattle, grains and oilseeds businesses. In Minnesota, home to its headquarters, Cargill plans to terminate 475 employees. Cargill has more than 160,000 employees worldwide, and a spokesperson said al

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring), fuel , fertilizers for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close Tuesday, December 2 , 2024: March corn settled yesterday at $4.32¼, +4¼¢ since last Tuesday.

Highlights Benson Quinn  reported yesterday afternoon: Corn usage the first two months of this marketing year is a 6 year high. Soybean oil stocks are at a 10-year low and crush net profit margins are up 7¢ to just over $1.10 per bushel. Russian wheat conditions are the worst in 10 years, rated 37% poor, as the crop enters mid-season and heads into winter exposure.   The U.S. Labor department  reported yesterday there were 1.11 job openings for every unemployed person in the

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. Dow Jones  Industrial Average Index settled at 44,782, +485.49 points for the week. Crude oil  settled at $68.8, -2.38. Dollar Index  settled at 106.22, -1.27. Baltic Dry Index  (a shipping freight-cost index)  settled at 1,298, -239 for the week. Corn March futures  at $4.32½, -2¾¢ for the week. Basis   (H = March; e.g. 10H means 10¢ over March futures) (Futures price + Basis = Cash pri

Highlights Yesterday, S&P Global reported China’s PMI rose to 51.5 in November, the highest since June as new export orders rose for the first time in four months. The market expected China’s PMI to be only 50.5. This is one the strongest one-month PMI gain ever for any country! China's November factory production expanded at the fastest pace in five months in November. New orders, including those from abroad, led to a solid rise in production, pushing manufacturers' optimism

Tidbits The Institute for Supply Management (ISM)  manufacturing index, also known as the purchasing managers' index (PMI), is a monthly economic activity based on a survey of purchasing managers at manufacturing firms nationwide. It is considered to be a key indicator of the state of the economy. In the U.S., several organizations conduct a survey and report their PMI results.   The ISM PMI, which is announced on the first business day of each month, can greatly influence in

Highlights Trump’s newly appointed counterterrorism adviser, Sebastian Gorka, says Trump plans to end the Ukraine war by threatening to flood Ukraine with military aid, making current U.S. support look like “peanuts.”    Andrey Sizov, the guru of Black Sea wheat market, reported yesterday afternoon that Russia, the world’s biggest wheat exporter, is gradually running out of inventory. "Russian total on-farm stocks: Lowest in three years, but still above average. Southern regi

Tidbits The American economy  expanded at a healthy 2.8% annual pace in the third quarter of 2024 on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of GDP growth in the third quarter, which was 0.2% less growth than in the second quarter.   U.S. GDP expansion has topped 2% for 8 of the last 9 quarters. The Commerce Department will issue its final third quarter 2024 GDP report on Dec. 19.   Consumer spendi

Tidbits President Elect Trump  said he spoke with Mexican President Claudia Sheinbaum on Wednesday. He said she agreed to stop migration across Mexico’s border with the U.S. Trump said,  “We also talked about what can be done to stop the massive drug inflow into the United States, and also, U.S. consumption of these drugs. It was a very productive conversation!”   In a post on X, Sheinbaum confirmed she spoke with Trump by phone and that the two discussed "strengthening colla

Tidbits Yesterday morning, the USDA announced the sale of 132,000 mts of old crop soybeans to China.    The 2 to 5 trading days before the delivery notices  are issued are usually more down days than up. December deliveries will be assigned to the oldest long positions tomorrow. Yesterday was the last day to liquidate December positions to avoid any chance of delivery. Soft red winter wheat was down 4 of the last 6 days; Dec hard red winter wheat was down 4 of the last 6 days