BASIC & RECENT MARKET INFO

Mar Wheat - 2 to 3 Higher Mar Corn - Steady to 1 Lower Jan Beans - 1 Lower January Crude Oil marked it's low 18 cents below the 74.82...

Highlights Diego Meurer posted Monday morning: "I traveled 2300 km in the State of Mato Grosso Brazil and the scenario of soybean crops is the same, entire crops dying, the rains did not arrive and those that did arrive were in low volume or in indigenous reserves. Those that apparently appear to be beautiful have no load and the beautiful crops are pivot crops, irrigated. Mato Grosso is heading towards the biggest crop failure ever seen."   However, Alê Delara posted yesterd

Mar Wheat - 1 to 2 Higher Mar Corn - Steady Jan Beans - Steady to 1 Higher January Crude Oil marked it's low 26 cents above support of...

Highlights There continues to be major differences in the weather forecasts for the dry areas of Brazil. Midday Sunday, some forecasts had the Rondonópolis area receiving 1 to 2 inches rain the first few days of December, while others said not so. By early this morning, the rainfall for early December in the Rondonópolis had been reduced by 20 to 30% while other services continued to predict mostly dry.   Unidentified individuals seized the tanker, Central Park,  carrying a f

Jon Scheve with weekly market commentary made on November 24, 2023 Many traders take time off the week of Thanksgiving, which can...

Dec Wheat - 1 Lower Dec Corn - 1 Higher Jan Beans - Steady to 1 Lower Crude price - 75.62, Up .08 S&P price - 4559.75, Down 8.50

It's our weekly grain market prices and US grain basis analysis and outlook on November 26, 2023 for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 35390.15, +442.87 points for the week. Crude oil  settled at $75.18, -0.66. The Dollar Index  settled at 103.42, -0.39. The Baltic Dry Index  (a shipping freight-cost index)  settled at 2102, +282 points for the week. Corn December futures  at $4.63¼, -3¾¢ for the week. Basis   (Z = December; e.g. 10

Tidbits Three major Greek shipping firms have stopped transporting Russian crude oil in recent weeks to avoid US sanctions being imposed on some shipping firms carrying Russian oil.   Russia has banned exports of hard (bread) wheat for 6 months, beginning 1 December.   Below are this past week’s export sales and the average needed to meet the USDA projections: Corn export sales 56.4 mil bu, need 27.3 mil Soybean export sales 35.3 mil bu, need 15.9 mil Wheat export sales 6.3 m

World Free-On-Board Grain & Oilseed Prices for November 25, 2023

January Crude Oil marked it's high 24 cents below resistance. support - 74.60 73.80 72.95 resistance -...

Soybeans Q&A From a client in Central Missouri: "Good afternoon, Roger,  What are your thoughts on why the bean market sold off this past week? Should a guy be concerned moving forward? Corn market going to stay in a sideways trend the next month?  Thanks"   Thanksgiving week market action is so distorted it is difficult to get a good handle on the technical and fundamental situation. As far as Friday’s market action goes, the probability of rain was increased for the dry are

Dec Wheat - 1 to 2 Higher Dec Corn - Steady Jan Beans - Steady to 1 Higher Crude price - 76.10, down 1.00 S&P price 4568, up 0.75

Brazil Crops Comments Kory Melby  is a former Minnesota farmer who immigrated to Brazil about 23 years ago and became a consultant for everything related to agriculture. Roger first met Kory in February 2003 and has come to respect his judgment and thoughts. Kory eats and sleeps Brazilian agriculture and world soybean and corn markets. His market letter this week included these comments:   "Brazil has many problems. Late planting, re-plant, out of synch maturities, and too mu

January Crude Oil marked the low below support of 75.70, but closed about 50 cents above it. support - 75.85 74.00...

Highlights OPEC has postponed their Sunday meeting to consider production cuts. That news caused crude oil to sell-off over $3 yesterday before recovering nicely by the close, but weaker over night.   Edurado Vanin, an export grain and soybean manager in Brazil reported yesterday China continues to buy US soybeans. He said this week China is looking to buy 8-10 shiploads (~400,000 to 500,000 mts) of US soybeans. Yesterday, brokers in various Asian countries were asking about

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, November 21 , 2023: December corn settled on Tuesday at $4.70, -8¼¢ since last Tuesday. The past 7 day

The CBOT will trade Friday from 8:30 AM to 12:05 PM Central time. It is against the law for any US futures exchange to be closed four consecutive days, therefore, futures exchanges will always trade the Friday after Thanksgiving.  Highlights Yesterday morning saw scattered showers in Brazil’s major crop area (central) with week to date rainfall a half inch (13 mm) to one and half (39 mm). The EU weather model for the next 10 days was a bit drier with moderate temperatures.  

Dec Wheat - Steady to 1 Lower Dec Corn - Steady to 1 Higher Jan Beans - 1 to 2 Lower January Crude Oil had a quiet day, remaining in...

Highlights Yesterday’s mid-day weather forecast went drier for Central Brazil for next week. This major crop area will receive rains through this Friday, but amounts will not be enough to end the drought as November rains are running about half of normal this week. The extended outlook keeps high pressure over the north while Southern Brazil remains too wet, delaying planting and destroying some of crops that did get planted.   Several wheat contracts made new lows yesterday

Dec Wheat - Steady Dec Corn - 1 to 2 Lower Jan Beans - 1 Lower January Crude Oil had a strong up day, didn't test support, and marked...