BASIC & RECENT MARKET INFO

Highlights The Chinese blue-chip CSI 300 stock index was barely up last week, but up 0.066%, none-the-less, and that made three consecutive weeks of gains, its best run since March. And the world breathed a sigh of relief… The majority of soybeans in Mato Grosso that got planted sometime during the past two months are either dead or look terrible and in desperate need of water. But there is nothing wrong with the beans that 2 inches of rain (55 mm) every other day for a coup

Jon Scheve with weekly market commentary made on November 10, 2023 Thursday’s USDA report indicated that last summer’s corn objective...

Dec Wheat - Steady to 1/2 Lower Dec Corn - 1 Lower Jan Beans - Steady Crude price - 76.89, down .28 S&P price - 4419.50, down 11.00

December Crude Oil marked it's low early in the session 11 cents above stated support of 75.20, and closed 15 cents above resistance of...

It's our weekly grain market prices and US grain basis analysis and outlook on November 12, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 34283.1, +221.78 points for the week. Crude oil settled at $77.35, -3.54. The Dollar Index settled at 105.8, +0.73. The Baltic Dry Index (a shipping freight-cost index) settled at 1643, +181 points for the week. Corn December futures at $4.64, -13¼¢ for the week. Basis (Z = December; e.g. 10Z m

Highlights On Friday, Iraq said it wants OPEC+ to cut oil production at OPEC’s November 26th meeting. Some speculators covered their massive short positions Friday ahead of a weekend uncertainty, but crude was down 4% last week, the third consecutive weekly decline. Confresha is a municipality in northeast Mato Grosso. From October first through the 10th of November in 2022, Confresha received 16.8 inches (427.8 mm) of rain. During the same calendar days in 2023, the Confres

World Free-On-Board Grain & Oilseed Prices for November 11, 2023

Two days ago, Roger reported the US government interest on the national debt was more than a billion dollars a year; Gary caught the error; the annual interest is more than a trillion , which is 1,000 times more than a billion. Shawn sent us this weather forecast video. The first 5 minutes is an excellent weather forecast for North America presented Thursday and the last 5 minutes is an excellent explanation about the “Super” El Niño and how the “super” adjective is being ex

Farmer's Feedback We received this from BJ, a client, early Thursday morning: "The basis situation in NE Iowa is getting fun to watch. I have never seen basis this good in November. Harvest is about 99% done, so very little will be delivered straight out of the field. Today Valero in Charles City, IA sent out a flash bid of $5.20 cash. That is $0.44 over futures! Homeland Energy in Lawler, IA is +.10, now accepts corn up to 19% moisture, and is staying open late and on weeke

The numbers are: Bearish corn Do not panic sell anything. The worst is over. Negative beans Neutral Wheat 27 Minutes After Report was...

Dec Wheat - 1 to 2 Higher Dec Corn - Steady to 1 Higher Jan Beans - Steady December Crude Oil stayed above support and marked the high 4...

Highlights The Producer Price Index (PPI) is the measure of inflation at the wholesale level and the Consumer Price Index (CPI) is the rate of inflation at the retail level. This morning, China reported both indexes. The PPI annual rate was expected to be -2.7% (deflation). The actual PPI was a -2.6% (less deflation than expected, which is good) The annual CPI rate was expected to be -0.1%. The actual CPI was -0.2% (not terrible, but worse than expected). From MetSul Meteo

Dec Wheat - 3 to 4 Lower Dec Corn - Steady to 1 Lower Jan Beans - Steady December Crude Oil marked it's low 1.34 below the middle support...

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 7 , 2023: December corn settled on Tuesday at $4.68½, -10¼¢ since last Tuesday. The past 7 da

Highlights Instead of writing about what caused the markets to fall out of bed yesterday and how terrible yesterday’s price action was for farmers, we will put that ugliness aside and sweep it away with some good news. January beans settled 18¢ below their high yesterday and down 2¢ on the day. That was very poor market action, but China solved that problem. After the close of the CBOT yesterday, Reuters News Service reported China bought 600,000 mts of US soybeans for shi

Dec Wheat - 2 to 3 Lower Dec Corn - Steady to 1 Higher Jan Beans - Steady to 1 Lower December Crude Oil marked the largest down day since...

Originally written by Roger Wright for FarmProgress.com in September 2021 Here is why you need to be a basis seller and a futures seller,...

Upcoming S&D The USDA will issue its monthly S&D Thursday at 10 AM Mountain Time. The market changes expected from October: Corn yield: increased to 173.2 vs. 173.0 and carryover increased 20 million bushels to 2.131 billion. Soybean yields: unchanged at 49.6 bu with the carryover 2 million more bushels at 222 million. World wheat carryover: down 300,000 mt to 257.8 million mt. Highlights Poet at Shell Rock, IA pushed their basis to +20Z (20¢ over Dec futures for 1st ha

Dec Wheat - Steady Dec Corn - Steady to 1 Lower Jan Beans - 1 to 2 Lower December Crude Oil traded range bound, between support and...

Highlights Allen Motew is the director of QT Weather located in the CBOT building Sunday afternoon forecast: "Northern Brazil goes dry to drier week 2! Wet and wild returns to Parana and Santa Catarina (in the south) . Brazil troubles to continue as many have been saying/watching." 247AG Sunday 7:25 PM: Brazil mostly warm to hot, with some locations in the 10-day, very dry. The U.S. Department of Commerce announced Friday it would lower the tariff on imported fertilizer fr