BASIC & RECENT MARKET INFO

It's our weekly grain market prices and US grain basis analysis and outlook on October 22, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 33127.28, -543.01 points for the week. Crude oil settled at $89.02, +1.30. The Dollar Index settled at 106.16, -0.51. The Baltic Dry Index (a shipping freight-cost index) settled at 2046, +101 points for the week. Corn December futures at $4.95½, +2¼¢ for the week. Basis (Z = December; e.g. 10Z

Tidbits Louis Dreyfus Company (LDC) announced Friday the construction of a soybean processing plant in Upper Sandusky, Ohio with integrated crushing, vegetable oil refining and lecithin production and packaging capabilities.   Construction will begin in early 2024; the new facility will employ over 100 people with an annual soy crushing capacity of 55 million bushels (1,500,000 mts). Annual production will be 320,000 mts of soybean oil and 7,500 mts of lecithin.   Dreyfus rec

World Free-On-Board Grain & Oilseed Prices for October 21, 2023

Crop Feedbacks Bill in North Central Kentucky called Roger yesterday shortly after noon to let us know that ADM at Silver Grove, KY, across the Ohio River from Cincinnati, pushed (firmed) their soybean bid to $13.00 cash, which was 13¢ firmer than their posted offer. Dave in Northeast Illinois has cut 2200 acres of beans which averaged 55 bu, down 7 bushels from the past two year average. Thanks, Dave. Matt in Northwest/Central Ohio harvested 15 tons of cereal rye forage la

Received 6:40 AM yesterday, thanks, Jason: "CHS Fairmont, MN soybean basis firmed from -.20 to + .5 today. Thanks for the great info Wright on the Market team." Today is Friday and harvest weekend. Think pre-hedging this afternoon before the close. Highlights New unemployment claims were 198,000, 12,000 fewer than expected and strong Netflix earnings had Wall Street trading higher yesterday morning when Federal Reserve Chairman Jerome Powell said the labor market is so st

November Soybeans traded above/hugging the 1310 support until early this morning, did a fakeout to the upside, then reversed down and...

Highlights A sea of red (lower prices) across world stock markets and another surge in U.S. Treasury yields on Wednesday ensured a bearish open in Asia today. So far this marketing year, US ethanol production is above last year and the five year average while ethanol inventory is below last year and the five year average. Yesterday morning, the USDA announced the sale of 132,000 mts of old crop soybeans to China. Jim Jordan received two less votes for Speaker yesterday tha

Dec Wheat - 2 to 3 lower Dec Corn - Steady to 1 Lower Nov Beans - Steady November Soybeans marked a low of 1293.25 this morning, 1.25...

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 17 , 2023: December corn settled on Tuesday at $4.89, +3½¢ since last Tuesday. The past 7 days

House member Jim Jordan received 200 votes to be Speaker, but needs 217 to obtain speakership as 20 Republicans voted against Jordan. Republican leadership announced the House will reconvene today at 11 AM Eastern to discuss when to vote again. Highlights US retail sales were up 0.7% for September; the market expected a number closer to 0.3%. Industrial production was up 0.3%; the market expected up 0.1%, which are two more reasons the Fed is likely to raise interest rates ag

Dec Wheat - Steady to 1 Higher Dec Corn - 1 Lower Nov Beans - Steady to 1 Lower November Soybeans rallied today, as expected. The high of...

Highlights Crop progress: The nation’s corn crop is 45% harvested, 3% ahead of the 5 year average; the market expected 46%. The beans are 62% harvested, 10% ahead of the average; market expected 57%. Cotton is 33% harvested, 1% ahead of the normal harvest pace. Winter wheat is 68% planted, a perfectly normal pace. You can access all the crop condition and state by state progress at grainstats.com The NOPA September soybean crush was reported midday yesterday to be 165.456 mi

Dec Wheat - Steady to 1 Higher Dec Corn - Steady Nov Beans - 1 Lower November Soybeans marked an inside/narrow range day today....

Highlights Iran announced yesterday in the UN in New York, Iran it will not defend Hamas, saying "the resistance can defend themselves. Iran's armed forces will not engage, provided that the Israeli apartheid does not dare to attack Iran, its interests, and nationals." Wednesday will see the release of Chinese September unemployment, industrial production, retail sales and business investment figures, but more importantly, third-quarter GDP. The market sees China’s GDP equal

Jon Scheve with weekly market commentary made on October 13, 2023 I had been saying the USDA feed number was off all year. They finally...

World Free-On-Board Grain & Oilseed Prices for October 14, 2023

Dec Wheat - 1 to 3 Higher Dec Corn - Steady to 1 Higher Nov Beans - Steady Crude Price - .06 Higher at 87.75 S&P Price - 7.00 Higher at...

The results so far with these support and resistance prices given daily - they are either the daily high or low, an intraday swing high...

It's our weekly grain market prices and US grain basis analysis and outlook on October 15, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 33670.29, +262.71 points for the week. Crude oil settled at $87.72, +4.91. The Dollar Index settled at 106.67, +0.57. The Baltic Dry Index (a shipping freight-cost index) settled at 1945, +16 points for the week. Corn December futures at $4.93¼, +1¼¢ for the week. Basis (Z = December; e.g. 10Z m

Brazil Crop Progress Dr. Michael Cordonnier earned a Ph.D. in agronomy from Michigan State University and has been involved in global crop production for more than 45 years. His experience in South America started in the early 1970’s when he conducted agricultural research in Mato Grosso, Brazil. He has been a keen observer of the development of the soybean industry in South America over the last 45 years. Dr. Cordonnier travels regularly to Brazil, Argentina, and Paraguay to