BASIC & RECENT MARKET INFO

Upcoming S&D The USDA will issue its December S&D today at 10 AM Mountain Time. There will be no adjustment to US production (SOP for Dec S&D), but there may be adjustments to the demand side on the domestic S&D. The world S&D may have production and demand adjustments. Market-wise, this will be non-event, but if there is a surprise, it will be friendly for higher prices. Highlights CONAB lowered Brazil’s soybean production estimate from 162.42 mil mts to 160.18 (USDA 163).

March Wheat - Steady March Corn - Steady to 1 Higher March Soymeal - 0.5 Higher Jan Beans - Steady to 1 Lower January Crude Oil remained...

Highlights Smithfield canceled its contracts with 26 US hog farms. Yesterday morning, USDA announced the sale of 372,000 mts of old crop soft red winter wheat and 136,000 mts of old soybeans to China Direct quote from www.oilprice.com : "Prices of Brent crude and West Texas Intermediate were down nearly 4% on Wednesday as an unexpected and significant increase in U.S. gasoline inventories added to concerns about lagging demand. Wednesday’s prices reflect the lowest levels

March Wheat - Steady March Corn - Steady to 1 Higher March Soymeal - 2.0 Higher Jan Beans - Steady to 1 Lower January Crude Oil took out...

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 5 , 2023: December corn settled on Tuesday at $4.90½, +17¢ since last Tuesday. The past 7 day

USDA is now accepting applications for farm loans online: https://www.fsa.usda.gov/news-room/news-releases/2023/usda-now-accepting-applications-for-farm-loans-online Highlights Corn in Brazil is worth more to feeders and ethanol plants than it is worth at the ports. That should mean the end of Brazil’s corn exports for this marketing year. Brazil's southern state of Parana had the wettest Oct-Nov in a quarter century, almost 21 inches of rain (534 mm, ~70% above avg). Yester

March Wheat - 1 Lower Marc Corn - 1 Lower Jan Beans - 2 to 3 Higher January Crude Oil marked it's low 18 cents below support of 72.35,...

Highlights Benson-Quinn analysts reported yesterday morning: "North and Central Brazil caught 60% of the region. More scattered activity expected today. Then dry until next weekend. Feels like this region is turning the corner. Expect more rains in S Brazil (where it has been very wet the past two months), but it also sounds like some planting progress is being made." And this yesterday afternoon: "USA weekly corn export inspections (yesterday) were best since June at 1.16

March Wheat - 1 to 2 Lower March Corn - Steady to 1 Lower Jan Beans - 1 Higher January Crude Oil Marked it's high 34 cents above...

The USDA will issue its December S&D on Friday at 11 AM Central Time. There will be no adjustments for US 2023 crops, just demand adjustments for US crops. There will be production and demand adjustments for worldwide crop production. The market will not expect major changes in South American production, nor do we. It is too early in the growing season. However, we know the safrinha corn crop will be significantly smaller than last year, but since it has not been planted yet

Jon Scheve with weekly market commentary made on December 1, 2023 I will be at the Nebraska Ag Expo in Lincoln, NE at booth 3308 on Dec...

March Wheat - Steady to 1 Lower March Corn - Steady Jan Beans - 1 Higher Crude price - 74.63, up +0.56 S&P price - 4594.75, down 6.00

It's our weekly grain market prices and US grain basis analysis and outlook on December 3, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 36245.5, +855.35 points for the week. Crude oil settled at $74.38, -0.80. The Dollar Index settled at 103.19, -0.23. The Baltic Dry Index (a shipping freight-cost index) settled at 3192, +1,090 points for the week. Corn December futures at $4.84¾, +2¼¢ for the week. Basis (H = March; e.g. 10H me

Highlights Eduardo Vannin, is a cash grain export trader in Brazil. His special report Saturday morning: Brazil Soybean Market: The EC (weather) model shows good amounts of rain and a good coverage of rain going into the next week, but there is a lack of uniformity in the information. Two factors harmed soybean prices: 1) the EC model has been maintaining forecasts of good volumes of rain for next week, volumes that vary from 40 to 80 mm in the 7-day run for MT (Mato Gro

World Free-On-Board Grain & Oilseed Prices for December 3, 2023

January Crude Oil marked it's low in between the 2 support levels. support - 74.20 73.55 resistance - 75.05 ...

Highlights The October Census Bureau crush was reported after the close yesterday and it was an all-time record high for any month. The US has never crushed 200 mil bu of beans in one month until October 2023. The soybean crush was 201.4 mil. bu., a bit above the market’s expectation of 201.1 mil bu. and well above the 197 mil. bu. a year ago.   Soybean oil stocks were expected to be 1.540 billion lbs, but soy oil stocks were just 1.082 bil. lbs. Nobody has ever reported an e

Highlights OPEC agreed to reduce oil production at its meeting in Vienna yesterday. The crude market rallied sharply immediately after that announcement, but oil prices began to decline and then fell out-of-bed as it became clear that OPEC+ members had agreed to additional voluntary cuts  beginning in January. More obscure yet, the size of those cuts would be announced by each member instead of by the group.   The announced additional cuts in barrels per day were: Algeria 51,

March Wheat - Steady March Corn - 1 Lower Jan Beans - Steady to 1 Lower January Crude Oil marked it's high 20 cents below the first...

Highlights Eduardo Vanin 29 November 2023: "Brazilian corn is getting really expensive. Tenders, purchase tenders, went out to South Korea in the last two weeks for December-January shipment at destination prices equivalent to Fob Santos at +80H (Fob premium 80 cents per bushel above the March contract at CBOT)...   For the off-season we are hearing business every day in Mato Grosso on a basis well above export parity as well. It seems that the reduction in area and technolog