BASIC & RECENT MARKET INFO

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

Tidbits Yesterday morning, the USDA announced the sale of: 181,000 mts soft red winter wheat to China 117,300 mts soybeans to unknown 100,000 mts of soybean meal to unknown Jason Britt is the President of Central States Commodities of Kansas City. He has appeared on Bloomberg TV, Barron's and the WSJ. His comment about USDA’s math on the soybean S&D: "After going over the USDA numbers, what stands out to me is how they had to “massage” the soybean numbers to even keep carryo

Highlights Now that the October USDA report has been issued, we can be quite confident that the futures have made their lows for the year. Soybeans did it on May 31st and corn did it on September 19th. The USDA has lowered yields for both beans and corn four consecutive months. We will get a November production update (yield, harvested acres) from USDA, but there will be no USA production information on the December S&D, just demand changes for USA crops; the USDA will updat

Dec Wheat - Steady to 1 Higher Dec Corn - 1 Lower Nov Beans - 1 to 2 Lower November Soybeans painted a bullish key reversal daily bar...

The numbers are: Friendly corn Bullish beans Neutral Wheat 30 Minutes After Report was released: December corn +8 November beans +40...

Highlights USDA October S&D will be issued at 10 AM Mountain Time today. Crude oil was weaker yesterday because Saudi Arabia said it will do its very best to keep world crude oil supplies flowing at a constant rate in the event one or more oil exporters decide to restrict or cannot export crude oil. Most eyes are on the possibility of Israel hitting Iran’s oil industry. Yesterday morning, the USDA announced the sale of 121,000 mts of old crop soybeans to China and 213,000

Dec Wheat - 2 to 3 Higher Dec Corn - Steady to 1 Higher Nov Beans - Steady The sellers in the November Soybean pit took out all the sell...

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 10 , 2023: December corn settled on Tuesday at $4.85½, -2¢ since last Tuesday. The past 7 days

Highlights USDA issues an Export Inspections Report the first business day of every week which reports the amounts of commodities loaded on a ship, train, or truck, ready to leave the USA. The soybean export inspections were the market shocker yesterday morning when reported to be 1.643 million mts, double the high end of the range of expectations. That was later corrected to 1.036 million mts. While the reduction was disappointing, there were still way more beans exported t

Dec Wheat - 1 Lower Dec Corn - Steady to 1 Lower Nov Beans - Steady November Soybeans bottomed overnight near the 2nd support level of...

Highlights Two weeks ago, 8 out of 10 farmers we talked to said they were expecting less bushels per acre than a year ago. While they would not put a number on the beans, most were saying corn would be 20 to 30 bushels less. That translates to about 10 bushels less per acre. Half of the 1 in 10 said yields would be the same and the same number said better than 2022. Now, 6 out of 10 say corn is not as good as 2022 and the others are split between the same and better. Yield

Dec Wheat - Steady to 1 Higher Dec Corn - Steady Nov Beans - 1 Lower Note: I shoot to be within 1-2.5 cents on the support and resistance...

Highlights The fighting and atrocities happening in Israel and Gaza the past 48 hours are horrific. Israel will do a massive counter-strike to destroy, after decades of terrorism, the HAMAS organization and its supporters. That means Israel will probably go after Iran because it is a well-known fact Iran backs terrorism and terrorist organizations around the world. Iran produces about 4.5 million barrels of oil per day, so an attack on Iran will disrupt the world's flow of c

Jon Scheve with weekly market commentary made on October 6, 2023 Corn had been trading sideways between $4.77 and $4.89 since August 11th...

Dec Wheat - Steady Dec Corn - Steady to 1 Higher Nov Beans - 1 to 2 Lower Crude price - 86.04, up +3.25 S&P price - 4310, down -31.50

The November Soybean trade on Friday was a good example of how the support and/or resistance numbers work. Funds were selling on Friday,...

Highlights Northwest Ohio is out of corn. Our client, Evan, reported a nearby feed mill took their corn basis to +75Z (75¢ over December futures) for corn delivered by Saturday, the 14th. Kalmbach Feeds in Upper Sandusky is paying +70Z through Saturday and Poet in Fostoria is paying +100Z this week. Poet in Leipsic is +50Z, Poet in Marion is +80Z through Friday. A day after the 50th anniversary of the start of the 1973 Yom Kippur war, the terrorist group HAMAS attacked Isra