BASIC & RECENT MARKET INFO

World Free-On-Board Grain & Oilseed Prices for December 16, 2023

Highlights Those of you with January bean futures or basis contracts looking to roll to March before December 28th, your patience made you 2¼¢ yesterday and 3¼¢ the past 5 days because the January bean contract is gaining on the March contract. That is because the market is paying less and less for storage as the demand is strengthening for the available beans. It certainly helps that the USDA has announced soybean export sales of over 100,000 mts of beans 8 consecutive busin

Highlights Yesterday morning, military correspondents reported the Russian Armed Forces are carrying out massive strikes on targets in and around Ukraine’s ports in the Odessa region and on the Romanian border where air raid sirens were blaring 4½ hours during the night.     Reuters’ Karen Braun reported yesterday that soybean seed in Brazil is becoming hard to find due to all the acres that have been replanted, some replanted twice.   Eduardo Vanin, bean trader in Brazil, re

January Crude Oil marked it's high 46 cents above the 72.00 support level after rallying 2 bucks. support - 69.25 67.50...

Highlights Argentina devalued its currency while everyone was asleep Wednesday morning, which is when a devaluation should be done. The Argentina Peso was devalued by 54%; now 801 pesos per US$. The market was afraid the devaluation would cause a lot of Argentine agriculture products to hit the international market. That could not happen. While Argentina does have a little wheat to sell, it has been importing corn and beans from Brazil for many months. Plus, export permits we

March Wheat - 1 to 2 Higher March Corn - 1 Higher March Soymeal - 1.9 Higher Jan Beans - Steady to 1 Higher January Crude Oil marked it's...

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 12 , 2023: December corn settled on Tuesday at $4.85¼, -5¼¢ since last Tuesday. The past 7 da

Highlights Yesterday's market action was a classic turn-around  Tuesday action. We hate that phrase because there is no rhyme or reason for it.    The interior Brazil soybean basis is firming. Cash basis traded yesterday in Sorriso for Feb delivery at -290H (290¢ under March futures). That basis was at -380H a few weeks ago.   Kory Melby yesterday morning: "Tough week ahead for MT (Mato Grosso). Rain comes Dec 21 or so. But the below normal Nov and Dec totals will catch up wi

March Wheat - 1 to 2 Lower March Corn - Steady to 1 Lower March Soymeal - 0.6 Higher Jan Beans - 1 Lower January Crude Oil marked new...

Highlights Early this morning, a land-based cruise missile launched from Houthi-controlled Yemen struck a commercial tanker vessel 60 nautical miles north of Bab al-Mandab Strait (Red Sea/Suez Canal area) causing a fire and damage but no casualties.   Yesterday’s mid-day weather model runs took quite a bit of the rain for Northern and Central Brazil out of the first and, to a lesser extent, the second week of the forecast and moved the rain to the third week out.     Yesterda

March Wheat - Steady March Corn - 1 Higher March Soymeal - 1.0 Higher Jan Beans - 1 to 2 Higher January Crude Oil marked it's low 5 cents...

Highlights Dan Basse, President and Founder of AgResource Company , was recently interviewed by Micheal King of WorldGrain.com . Here are excerpts of his report:   China has bought record amounts of soybeans and right now is buying record amounts of corn. I am not quite sure what is behind it. Some of us believe it is the westernization of China’s hog herd. As everything goes under a black light to prevent ASF, maybe their diets have changed such that they need more soy meal

Jon Scheve with weekly market commentary made on December 8, 2023 The December USDA report is arguably the least important of the 15...

March Wheat - Steady March Corn - Steady to 1 Lower March Soymeal - 1.0 Higher Jan Beans - 2 Higher Crude price - 71.37, +.14 Higher S&P...

It's our weekly grain market prices and US grain basis analysis and outlook on December 10, 2023 for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 36247.87, +2.37 points for the week. Crude oil  settled at $71.26, -3.12. The Dollar Index  settled at 103.98, +0.79. The Baltic Dry Index  (a shipping freight-cost index)  settled at 2483, -709 points for the week. Corn March futures  at $4.85½, +¾¢ for the week. Basis   (H = March; e.g. 10H means 1

Highlights 247AG, a market consulting firm based in Omaha, reported last evening: "Brazil is still looking drier and hotter as time marches on. Scattered showers across Brazil this afternoon. Nice to see the lack of rain across Rio Grande do Sul."   The United States’ diesel exports to Europe this month will increase sharply as Europe tries to wean itself off Russian fuels. Europe’s demand for diesel is estimated to increase this month to 290,000 barrels per day according to

World Free-On-Board Grain & Oilseed Prices for December 9, 2023

January Crude Oil traded 73 cents above the 70.90 resistance level which was 1.50 up from the lows. support - 70.40 ...

Highlights On yesterday’s S&D, the USDA:   Reduced Brazil’s bean crop by 2 mil mts to 161 million mts. Soybean and corn production in Argentina and Paraguay were left unchanged.   Increased China’s soybean imports for this marketing year by 2 mil mts to 102 mil. mts. For the marketing year that ended August 31st, USDA says China imported 100.85 mil mts. It was the first year China imported 100 mil. mts.     Increased Ukraine’s corn production by a million mts to 30.5 million

The numbers are: Neutral corn A tad negative beans Friendly wheat 19 Minutes After Report was released: March corn -2 January beans 2 1/4...