BASIC & RECENT MARKET INFO

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...

Tidbits Rain has fallen in many of the dry areas or Brazil’s crop area, but not as much as predicted a few days ago. Many areas expected heavy rains, but received sprinkles or none. No one expects the weather to return to a normal rainy season. Rondonópolis, Mato Grosso received half a mm of rain yesterday. Daytime high temperature was 106°F (41°C).   Brazil’s corn plus freight to Asia is more expensive than US corn plus freight shipped from the PNW. For soybeans, Brazil is s

Jon Scheve with weekly market commentary made on November 17, 2023 Brazil’s weather caused some excitement in the bean market this...

Dec Wheat - 1 to 2 Lower Dec Corn - Steady Jan Beans - Steady to 1 Lower Crude price - 76.12, Up .08 S&P price - 4523.75, Down 3.75

January Crude Oil marked it's low 11 cents above the 72.80 support level, and made the high price in between the first 2 resistance...

It's our weekly grain market prices and US grain basis analysis and outlook on November 19, 2023 for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 34947.28, +664.18 points for the week. Crude oil  settled at $75.84, -1.51. The Dollar Index  settled at 103.81, -1.99. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1820, +177 points for the week. Corn December futures  at $4.67, +3¢ for the week. Basis   (Z = December; e.g. 10Z

Highlights Seasonal Marketing Roger has very painfully developed, over the decades, progressively more respect for seasonal price trends....

World Free-On-Board Grain & Oilseed Prices for November 18, 2023

Highlights The dry areas of Brazil’s crop land are expected to receive more rain in the next 72 hours than the area received in total since May. Most forecasters predict next weekend, the weather will return to very hot and very dry. To our knowledge, no one thinks this rain spell is the beginning of the rainy season.   Even if the rainy season begins this week, there will be very little, if any, safrinha corn to export next summer. The corn trade on Sunday night and Monday m

Highlights Yesterday, the market saw some economic reports from Asia and the USA that were somewhat negative; stuff like US unemployment claims were more than expected. Some analysts predicted China’s crude oil demand will shrink and the rest of the world will reduce its demand for crude oil.     And then President Biden, immediately after concluding the 4-hour meeting China’s President Xi, tells the world that China’s president is a dictator.     Crude oil has lost 21% of it

January Crude Oil violated the 74.91 low from Wednesday a week ago. The 76.20 level held support until the pit opening at 8 AM, then the...

Yesterday’s news was good for a market wanting lower interest rates to boost economic activity. The stock market was strong as it should have, but crude oil was weak despite the improved economic outlook as Russia is “set” to reduce its crude oil export duty by 5.7%, Bloomberg reported on Wednesday afternoon. The new duty, starting in December, is “set” to the equivalent of $3.37 per barrel or $24.7 per mt. Grains probably suffered a profit-taking spree triggered by predictio

Dec Wheat - 4 to 5 Higher Dec Corn - Steady Jan Beans - Steady to 1 Lower December Crude Oil took out support and it closed 85 cents...

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 14 , 2023: December corn settled on Tuesday at $4.78¼, +9¾¢ since last Tuesday. The past 7 da

Highlights Late yesterday, the U.S. House of Representatives passed by a vote of 336-95 a temporary spending bill that would extend government funding through mid-January, now heads to the Senate, where Democratic and Republican leaders have voiced support. There will not be a government shutdown Friday.   The world’s “doom and gloom” predictors had a very bad day yesterday. Not only did the US Government avert a shutdown, good economic news prevailed.   The USA Consumer Pric

Dec Wheat - Steady to 1 Higher Dec Corn - 1 Lower Jan Beans - 1 to 2 Lower December Crude Oil marked it's low 21 cents below the 78.00...

Market Comment From Russ, who is located in Central South Dakota very close to the North Dakota border: "Our area and surrounding areas had and having the best corn crop ever. Piles all over at elevators and some elevators only taking contract or cash sales, but not many yet. A lot in fields yet. Some piles are wet 16 to 20, but normal for our area to have those piles, just not this size in a while.   So, if basis is -60 for Jan Feb, should be lock in when hauling some out, w

Dec Wheat - Steady Dec Corn - Steady to 1 Higher Jan Beans - 1 Lower December Crude Oil marked it's low about 80 cents below support and...