BASIC & RECENT MARKET INFO

An annual trading summary by Wright on the Market’s Eugene  While the markets are on holidays it is becoming a tradition to make a recap of our trading experience to share our growth from rookie to hopefully successful life-long futures traders. Five years ago Nick and I joined Wright on the Market. I began trading futures three years ago in January with $10,000 of joint capital. You can read previous annual entries in our blog . The goal was to enhance Nick’s and my market e

Mar Wheat - Steady Mar Corn - 1.00 Higher to 1.00 Lower Mar Bean Oil - Steady to 0.01 Lower Mar Beans - Steady to 0.50 Lower February Crude Oil marked its high price just 3 ticks shy of the 58.90 resistance level, then sold off about 2.05 bucks, to in between the 2 stated support numbers. support - 56.30, 56.00, 55.60 resistance - 57.70, 58.45 March Soybeans marked the high price 1 tick above the 1068.50 resistance number, then proceeded to sell down about 13.00 cents to a fe

Tidbits During Friday’s session, CBOT wheat futures put in new contract lows, and then bounced back to close exactly equal to the opening prices. People who know a lot more about technical analysis than we do said this creates a “dragonfly doji” pattern on the daily price chart. Investopedia.com states, “The dragonfly doji is a Japanese candlestick pattern that signals potential market reversal and reflects investor decisions.” It is a minor signal, but yesterday’s market ac

Mar Wheat - 0.50 Higher Mar Corn - 0.50 to 1.00 Lower Mar Bean Oil - 0.02 Lower Mar Beans - Steady to 1.00 Lower February Crude Oil marked its Low price 14 cents below the 56.45 support level in overnight trade, then rallied about 2.20 bucks into the afternoon. support - 57.50, 56.30 resistance - 58.90, 59.65, 60.30 March Soybeans marked the high price 2.50 cents above the 1060.50 resistance number, after a rally of about 18.00 cents from the opening/low print. support - 1052

Tidbits

Mar Wheat - Steady to 0.50 Higher Mar Corn - Steady to 1.00 Lower Mar Bean Oil - 0.05 Higher Mar Beans - 0.75 Higher to 0.75 Lower Crude price - 57.43, up 0.11 S&P price - 6906.50, up 6.00 Soybeans: China has two classes of soybeans. Number 1 soybeans are soybeans produced in China. Number 2 soybeans are imported soybeans. That is the only difference. When the government offers government owned grain and beans for public auction, the commodities offered for bids are always i

February Crude Oil marked its low price 5 cents below the 56.65 support level, after selling off about 1.30 Dollars from the overnight high print. support - 56.45, 56.08 resistance - 58.00, 58.75 March Soybeans marked the low price 3.00 cents below the 1041 bracket support number, then rallied almost 9.00 cents into the close. support - 1038.00, 1029.00 resistance - 1060.50, 1068.00 March Corn marked its low price 1.00 cent below the 438.00 support point, after moving down ab

It's our weekly U.S. grain market analysis and outlook for corn, soybeans and wheat, including traders positioning, basis bids tracking, crush margins, weekly news wrap-up and comments. Dow Jones  Industrial Average Index settled on Friday at 48,382, -329 points for the week. Crude oil  settled at $57.33, +0.40. Dollar Index  settled at 98.43, +0.38. Baltic Dry Index  (a shipping freight-cost index)  settled at 1,882, +5. Corn March futures settled at $4.37½, -12½¢ for the we

Tidbits Iran's  Supreme Leader Ayatollah Ali Khamenei vowed not to yield to President Trump’s threat to come to the aid of protesters, as rights groups reported a sharp rise in arrests following days of unrest sparked by soaring inflation. Khamenei said the Islamic Republic  "will not yield to the enemy"  and that rioters should be "put in their place" .   Venezuela:  After the U.S. military kidnapped Venezuela’s Dictator/President Madura, President Trump stated he will desig

Tidbits Flash sale:  Yesterday morning the USDA announced the sale of 132,000 mts of old crop corn to South Korea.   Crush numbers:  The USDA reported yesterday after the close the November soybean crush was 221 million bushels; the market expected 225.2 million bushels. None-the-less, the November soybeans crush was 11 million bushels (5.2%) above a year ago. The meal inventory at the end of November was 463,019 tons, just 103 tons above a year ago while the oil inventory wa

Tidbits CBOT will begin trading at 8:30 AM Central Time and close at normal time, 1:15 PM Central time. USDA is scheduled to release its November oilseed and grain crush numbers after the close. Farmer Bridge Assistance Program , Per Acre Payment Rates for 2025 acres: Barley: $20.51 Canola: $23.57 Chickpeas (Large): $26.46 Chickpeas (Small): $33.36 Corn: $44.36 Cotton: $117.35 Flax: $8.05 Lentils: $23.98 Mustard: $23.21 Oats: $81.75 Peanuts: $55.65 Peas: $19.60 Rice: $132.89

February Crude Oil marked its high price 5 cents below the 58.60 bracket resistance level, then sold off about 1.35 bucks, moving down about 40 cents below first support. support - 56.65, 55.75 resistance - 58.90-59.15, 59.60 March Soybeans marked the low price at the stated 1047.00 bracket support level, after a sell off of about 17.00 cents from the open/high price. support - 1043.50-1041.00, 1029.00 resistance - 1060.50, 1065.00 March Corn marked its low price 3 ticks belo

Isaac asked: "How do you know if it is ok to hedge using like Schwab or another brokerage account firm? Or do you need to use like a RJ O’Brien or StoneX  platform? Thanks"   Good Afternoon.   The brokerage firms whose primary business is trading stocks usually have futures brokerage available, but they generally look at futures traders as third class investors who have no common sense and, therefore, discourage futures trading with high "house margins" and high commissions c

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), also for inputs like fuel and fertilizer for past week Wednesday to Tuesday. Read about our approach to this report here . We provide three different marketing plans (in order of decreasing our preference). The marketing decision is yours to make, obviously you can mix those plans, cha

Tidbits The CBOT  ag markets will have regular hours today, but no night session tonight and will reopen Friday morning at 8:30 AM Central with a regular closing time. Flash sales: Yesterday morning, the USDA announced the sale of 136,000 mts of old crop beans to China and 231,000 mts of old crop beans to unknown. AgrInvest Commodities’ Eduardo Vanin yesterday morning: “China booked a few U.S. (soybean)  cargoes yesterday. The total is close to 140 cargoes, ~80% of the 12 mil

Mar Wheat - 0.50 Lower Mar Corn - Steady to 1.00 Lower Mar Bean Oil - Steady to 0.05 Lower Mar Beans - 0.75 to 1.50 Lower February Crude Oil traded in a smaller 85-90 cent range, remaining in between support and resistance. support - 57.60, 56.65 resistance - 58.60-58.90, 59.30 March Soybeans marked the low price at the stated lower bracket support level of 1060.75, after selling off about 7.00 cents from the overnight high print. support - 1057.25, 1047.00-1045.00 resistance

Tidbits There was no reasonable explanation for corn, beans and wheat to be smartly lower yesterday. Crude was up more than a dollar early in the day. Corn export inspections for Christmas week were less than previous week, which is to be expected, but were 47% more than a year ago. Soybean export inspections were 54% less and wheat inspections were 11% less than a year ago. Also, the USDA announced the sale of 100,000 mts of old crop soybeans to Egypt. Grain markets will clo

Mar Wheat - Steady Mar Corn - Steady to 0.25 Lower Mar Bean Oil - 0.01 to 0.02 Lower Mar Beans - Steady to 0.75 Lower February Crude Oil marked its high price 30 cents above the stated 58.00 resistance level, after a rally of about 1.40 bucks from the evening opening bell/low price. support - 57.50-57.305, 56.30 resistance - 58.90-59.15, 59.65 March Soybeans marked the low price 2 ticks above the 1062.50 support number, after selling off about 14.50 cents from the open/low pr

Tidbits Russia-Ukraine: President Trump said he talked to President Putin about two hours yesterday morning before meeting with Ukraine’s President Zelensky yesterday afternoon at his Mar-a-Lago residence in Palm Beach, Florida to discuss a plan to end the 4 year war with Russia.   The leaders confirmed that the meeting about a 20-point peace plan was productive, but added that there is more work to be done such as negotiating security guarantees and navigating the future of

Mar Wheat - 1.25 Higher Mar Corn - Steady Mar Bean Oil - 0.01 Higher Mar Beans - Steady to 0.50 Lower Crude price - 57.18, up 0.44 S&P price - 6979.00, down 0.25 Wheat: Hard wheat is used for bread and soft wheat is used for pastries. When one chews a small handful of wheat, within a matter of minutes, a wad of gum is left in one's mouth. That is a protein called gluten. Hard wheat has a higher gluten content than soft wheat. That is why cookies and cake have more crumbs than