BASIC & RECENT MARKET INFO

From yesterday's December Corn comments: "corn will most likely back fill first and test 475 or 473.50 below, before seeing higher...

Highlights Federal Reserve Chairman Jerome Powell suggested interest rates will be “higher for longer” and could stay above 5% this year and next. Yesterday, the Fed left interest rates unchanged, as expected, but Powell did not rule out another interest-rate hike this year. Ukraine said they are ready to resume grain from exports from Black Sea Ports using a temporary corridor, with the first dry bulk carriers in place. The bulk carriers Resilient Africa and Aroyat arrived

Dec Wheat - Steady to 1 Lower Dec Corn - 1 to 2 Lower Nov Beans - Steady to 2 Lower From yesterday's December Wheat comments: "December...

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, September 19 , 2023: December corn settled on Tuesday at $4.76¼, -¼¢ since last Tuesday. The past 7 days’ high was $4.84¾, the low was $4.67¾. Contract high is $6.79¼ made Apr 27, 2022; Contract low is $3.97½ made Dec 15, 2020; Range is $2.81¾. Yeste

Tidbits Recent data shows China’s economy is finding its footing. This afternoon, the Fed will reveal how it thinks the US economy is doing. West of Indianapolis, yesterday Brian cut 2.6 maturity beans which were planted April 20th at 12 to 13% moisture and yield around 70 bushels. Russian farmers are facing diesel fuel doubling in some areas in recent weeks. Farm diesel was up 1.27% just yesterday. The main reason for the increase was the reduction in government subsidies t

Dec Wheat - 1 Higher Dec Corn - Steady Nov Beans - Steady to 1 Higher From yesterday's November Soybean comments: "The lower line comes...

Highlights Yesterday December corn took out its previous 2023 low of $4.73½ with a trade down to $4.69. It settled at $4.71½, down 4¾¢. None of the wheats took out last week’s low for the year and November beans were down 23½¢, but still $1.86 above its May 31st low for the year. Two grain vessels reached Ukraine’s Chornomorsk Black Sea grain port on Sunday as Ukraine tries to prove it can ship grain out of its Black Sea ports without UN, Turkey, and Russian participation.

Dec Wheat - 2 to 3 Lower Dec Corn - Steady Nov Beans - 1 to 3 Lower This was from yesterday's weekly/December corn comments: "If the...

Tidbits Mark has a friend near Oto in Woodbury County, Iowa who has cut two fields of beans. The first was 15 bu/ac, the second field 35 bu/ac. The war continues to escalate. Fertilizer Between January and July 2023, the United States increased purchases of fertilizers from Russia to a record US$944 million according to RIA Novosti using US Statistical Service numbers. Russia became #2 fertilizer supplier to the United States. The value of Russian fertilizer imports to the U

Jon Scheve with weekly market commentary made on September 15, 2023 Some in the trade are questioning the national corn yield after the...

Dec Wheat - Steady Dec Corn - 1 to 2 Lower Nov Beans - 1 to 2 Lower Crude price - 90.91 up +0.14 S&P price - 4503.50 up +5.50

The fact that the intraday (2 hour corn, 4 hour beans) support levels did not hold in December Corn or November Soybeans on Friday, means...

It's our weekly grain market prices and US grain basis analysis and outlook on September 17, 2023 for corn, soybeans and wheat. The Dow Jones Industrial Average (DJIA) settled at 34,618.24, +41.65 points for the week. Crude oil settled at $91.20, +3.97. The Dollar Index settled at 105.33, +0.24. The Baltic Dry Index (a shipping freight-cost index) settled at 1,381, +195 points for the week. Corn December futures at $4.76¼, -7½¢ for the week. Basis (Z = December; e.g. 1

Tidbits Chris farms near Andrew, in Central Alberta, Canada northeast of Edmonton. He reported Friday morning: "Good morning, Roger, We finished our spring wheat harvest last night. I figure we averaged about 92 bushels an acre." Hard Red Spring Wheat harvest is nearly complete and this year’s crop currently grades at U.S. No. 1 Northern Spring Wheat. Northern Durum is more than 75% harvested and it is grading as U.S. No. 1 Hard Amber Durum. Black Sea grain market guru, And

World Free-On-Board Grain & Oilseed Prices for September 16, 2023

Tidbits The NOPA August soybean crush was 161.453, 6.35 million bushels less than the market expected. That was an 11-month low and down 6.8% from July and down 2.5% from August of last year, which is not so bad. The soybean oil stocks in the NOPA report were at 1.25 billion pounds vs. 1.483 billion expected, down 18.2% from July and down 20.1% from a year ago. Get this: the soy oil supplies are at the lowest level since October 2017… that was 6 years ago, Folks. To learn a

Marketing Comment The soybean meal and soybean oil marketing years end September 30. As always, there are shipments previously bought to be shipped this marketing year, but, for any one of hundreds of reasons, the actual shipments get delayed until after the end of the marketing year, making the shipment in the next marketing year. Yesterday’s Weekly Export Sales showed net cancellations for the current marketing year for meal and oil. Those who want lower prices are making

Dec Wheat - 1 to 2 Lower Dec Corn - Steady Nov Beans - Steady to 1 Lower December Chicago Wheat corrected about 5 cents today. On this...

More on DP Contracts Yesterday, we wrote about a “dump” charge on DP grain. Several folks asked what was a “dump” charge? We have not commonly seen dump charges since the large supplies of the 2016 when the US produced 15.148 billion bushels and the carry-in (left over from the previous marketing year) was 1.737 billion, a 46 day supply. When it was all said and done, the 2016 corn crop carryout was 2.293 billion bushels, a 57-day supply. Presently, the USDA projects the 2

Dec Wheat - 1 to 2 Lower Dec Corn - Steady Nov Beans - Steady to 1 Lower From yesterday's November Soybean comments: "Soybeans...