BASIC & RECENT MARKET INFO

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

Jon Scheve with weekly market commentary made on November 3, 2023 Corn closed the week 3 cents lower than the week prior. In 65 of the...

Dec Wheat - Steady Dec Corn - Steady to 1 Lower Jan Beans - Steady to 1 Higher Crude price - 81.14, up .63 S&P price - 4374.75, down 1.25

It's our weekly grain market prices and US grain basis analysis and outlook on November 5, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 34061.32, +1,643.73 points for the week. Crude oil settled at $80.89, -4.27. The Dollar Index settled at 105.07, -1.51. The Baltic Dry Index (a shipping freight-cost index) settled at 1462, -101 points for the week. Corn December futures at $4.77¼, -3½¢ for the week. Basis (Z = December; e.g. 10

Brazil Cotton Question from Zach: "Do they (Brazil’s farmers) have the infrastructure to handle big acres of cotton? Cotton harvesters are more expensive than combines, do they have one sitting in the shed waiting for that odd year they decide to grow cotton? I've only really been up to date with the happenings of South America since I've been getting your daily emails the last couple years. When was the last time they planted big acres of cotton there? Also, when was the las

World Free-On-Board Grain & Oilseed Prices for November 4, 2023

December Crude Oil first marked it's high 10 cents above stated resistance of 83.50 yesterday, then sold off to mark the low 10 cents...

Market Comment The most asked questions yesterday were, “What happened to the corn market? Why is it so strong?” For one, common sense finally kicked-in. Yesterday morning, corn was trading lower for the 9th out of the last 10 days during which bullish fundamental tidbits continued to develop every day, but were ignored by the market. Eventually, the market must come to terms with dozens of bullish tidbits. Secondly, corn tested the September 19th low, making a double bot

Highlights Bill farms 60 miles upriver from the ADM and Cargill barge loading facilities on the Ohio River at Cincinnati. He said both buyers firmed their corn basis from -28Z (28 under the December futures) to 0Z (even with December futures) yesterday. Dayton Cargill firmed their basis 5¢ to -25Z since Friday. Corn harvest is just getting a good start in Ohio and Michigan. Josh reported Homeland Energy at Lawler, Iowa, where harvest is winding down, pushed their basis to +

Dec Wheat - 3 to 4 Higher Dec Corn - Steady Jan Beans - Steady to 1 Lower December Crude Oil marked it's low 28 cents below 1st support...

Highlights Fears over a wider Middle East conflict continue to mount as Iran-backed Houthi rebels in Yemen claimed responsibility for missile and drone attacks targeting a Red Sea shipping port in southern Israel yesterday. Israel claimed it killed the top two leaders of HAMAS. As expected, the Federal Reserve left interest rates unchanged yesterday and Chairman Jerome Powell talked with a softer tone than in the past about how high interest rates may go and for how long. AD

Dec Wheat - Steady to 1 Higher Dec Corn - Steady Jan Beans - 1 to 2 Lower December Crude Oil marked it's high 28 cents below resistance...

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, October 31 , 2023: December corn settled on Tuesday at $4.78¾, -5¼¢ since last Tuesday. The past 7 day

Highlights Cash wheat export traders are saying China has probably bought more milling quality wheat this year than ever before. Their wheat crop problem was too much rain at harvest. The past few days, traders say China bought about 2 million mt of milling wheat from Australia and the same tonnage from France or the EU which probably put China wheat purchases at record large. Dr. Cordonnier reduced his corn and soybean production estimates for Brazil by 2 million mts each.

Dec Wheat - Steady to 1 Higher Dec Corn - Steady Nov Beans - Steady to 1 Lower December Crude Oil bottomed out today in between the 2...

Highlights The Nation’s corn crop is 71% harvested, 1% more than the high end of the 3% range. That is 5% ahead of the 5-year average pace. The beans are 85% harvested; the market range of expectations was 82 to 85%. That is 7% ahead of the average progress for this date. Cotton is 49% harvested, 2% behind the normal harvest pace. Sorghum 69% harvested, 1% behind the normal harvest pace. Sugar beets are 84% harvested, 3% ahead of the normal harvest pace. Winter wheat is

Dec Wheat - Steady Dec Corn - Steady to 1 Lower Jan Beans - 1 Higher December Crude Oil's low was in between the 83.50 and 80.00 support...

Market Comment "Roger, our local Andersons has been very low with trucks. There is no one there as people have gone to hauling to their own bin sites and drying or going to Albion, MI Andersons ethanol plant. The scale house worker say they have only had 1500 trucks in the month of Oct, where historically it’s been 3800. There is a lot of cob rot in the corn, low test weight." Thanks, Josh of SE Michigan. Increased on-farm drying and storage is one of the main reasons the co

Jon Scheve with weekly market commentary made on October 27, 2023 Corn finished the week down 15 cents and was nearly 30 cents off the...

Dec Wheat - Steady to 1 Higher Dec Corn - 1 Lower Jan Beans - Steady Crude price - 84.52, down 1.02 S&P price - 4148.25, up 10.50