BASIC & RECENT MARKET INFO

Tidbits Governor of Brazil’s state of Rondônia (NW of Mato Grosso) issued a decree Sunday declaring a state of emergency due to the  worst drought the State of Rondônia has ever experienced as crops of coffee, corn, soybeans, beans and rice are being drastically affected.   Diego Meurer of Northern Rondônia, in the Amazon region, has never experienced this situation, soybeans ready to harvest with a yield of 8 bags per hectare (7.1 bu per acre), 80% less production compared t

March Corn traded in the smallest range day on Friday since 12/24/19, at 2.5 cents. 12/24/19 was also a 2.5 cents range. This was an...

It's our weekly grain market prices and US grain basis analysis and outlook on December 24, 2023 for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 37385.97, +80.81 points for the week. Crude oil  settled at $73.49, +1.70. The Dollar Index  settled at 101.71, -0.88. The Baltic Dry Index  (a shipping freight-cost index)  settled at 2094, -254 points for the week. Corn March futures  at $4.73, -10¢ for the week. Basis   (H = March; e.g. 10H means

Highlights A drone launched from Iran struck the Israeli-linked tanker MV Chem Pluto  350 km off the Indian coast. The vessel is carrying crude oil from Saudi Arabia to India. No casualties, but some structural damage was done, there was a fire, and the ship did take on some water. Iran is attacking Saudi and Indian interests   The final third quarter USA GDP estimate expanded by 4.9%; market expected 5.2%. Where is that recession?   California’s Proposition 12 requires all f

World Free-On-Board Grain & Oilseed Prices for December 23, 2023

Highlights Early yesterday morning there was a hint that Brazil’s weather forecast beginning January 1st was turning a bit drier. Yesterday morning, BAM Weather Guy Kirk Hinz posted on Twitter: "Going Drier vs. Data into Jan - making my latest SA ag weather video public today - give it a watch/listen! https://www.youtube.com/watch?v=JyutNKgQsVQ   Once again, data is wet for Central Brazil for the month ahead, once again the atmospheric ingredients do not agree.   I think Jan

Highlights Mexico is the leading export destination for US corn, receiving from 21% to 32% of US corn exported annually in recent years. US corn export sales to Mexico are at a near record pace.   There are six railroad border crossings from the USA to Mexico. Two of them have been closed since 8 AM Monday as the Biden Administration pulled border personnel working the crossings to assist with the illegals crossing in the USA. However, others say the two border crossing point

March Wheat - Steady to 1 Higher March Corn - Steady to 1 Lower March Soymeal - 0.30 Higher Jan Beans - 1 Lower February Crude Oil sold...

Tidbits There was no USDA export announcement of a large sale of any commodity during the CBOT breakfast break yesterday morning. That apparently was the cause for the market trading smartly lower when trading resumed at 8:30 Central. A large export sales announcement 9 of the past 10 days coupled with the worst growing season in Brazil since they started planting beans 60 years ago, was not enough for the market to keep a positive price outlook.   The weather models turned a

March Wheat - Steady March Corn - Steady March Soymeal - 0.1 Lower Jan Beans - Steady to 1 Higher I stand by yesterday's corn comments....

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) 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 19 , 2023: December corn settled on Tuesday at $4.72¾, -12½¢ since last Tuesday. The past 7 d

Highlights The EU weather model continues to predict scattered showers for Brazil. The GFS model is not as wet, but the EU model tends to be the one that the market favors most days.   Agronomist Douglas Marangon: "Third largest producer in Goias, Brazil on 18 December 2023, had two rains, one of 8 mm and 10 mm, but the soybeans have already surrendered and died."   Aprosoja estimates Mato Grosso 2023/24 soybean production will be down 20% from a year ago at 36.15 mil. mts. A

March Wheat - Steady to 1 Higher March Corn - Steady to 1 Lower March Soymeal - 1.50 Higher Jan Beans - Steady Today's price action in...

Holiday CBOT Trading Hours Friday December 22: normal trading hours Sunday Dec 24: markets closed Monday Dec 25: markets closed Tuesday Dec 26: markets open at 8:30 AM CST. Friday Dec 29: normal trading hours Sunday Dec 31: markets closed Monday Jan 1: markets closed Tuesday Jan 2: markets open at 8:30 AM CST. Highlights Last evening’s GFS model run was drier & Euro model was wetter for the next week in the dry areas of Brazil. The GFS model has been more correct as of the pa

March Wheat - Steady to 1 Higher March Corn - 0.25 Higher March Soymeal - 0.70 Higher Jan Beans - Steady February Crude Oil Rallied from...

Highlights It appears the weekend weather in Brazil was as hot and dry or worse than predicted in the areas which have suffered the most the past two months. The forecast for the next two weeks appears to be a bit drier than it was Friday afternoon, but definitely more rain this week than the past two, but less than half of normal rainfall is the prediction. Later today, CONAB, Brazil’s USDA, will issue its Crop Progress Report. That may be scaring the markets a bit because C

Jon Scheve with weekly market commentary made on December 15, 2023 The market continues to watch Brazil’s weather. Mato Grosso and...

March Wheat - 2 Higher March Corn - 1 Lower March Soymeal - 0.80 Lower Jan Beans - Steady to 1 Lower Crude price - 72.47 UP +0.69 S&P...

January Crude Oil marked it's high 6 cents above the stated 72.50 resistance, then sold off almost 2 bucks ($1000/$). support - 70.50 ...

It's our weekly grain market prices and US grain basis analysis and outlook on December 17, 2023 for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 37305.16, +1,057.29 points for the week. Crude oil  settled at $71.79, +0.53. The Dollar Index  settled at 102.59, -1.39. The Baltic Dry Index  (a shipping freight-cost index)  settled at 2348, -135 points for the week. Corn March futures  at $4.83, -2½¢ for the week. Basis   (H = March; e.g. 10H mea