BASIC & RECENT MARKET INFO

Tidbits President Trump  said his senior administration officials will meet with their Chinese  counterparts in London for trade talks on June 9. Trump also confirmed that he and Xi agreed to visit each other once in China and again in the U.S.   China  has called for improving bilateral ties with Canada and is willing to work with Canadian officials to address each other’s concerns according to Chinese Premier Li Qiang.   The EU  agriculture commissioner has said the EU is o

Highlights The highly respected London Stock Exchange Group (LSEG, which bought Refinitiv, formerly the Financial and Risk business of Thomson Reuters) predicts U.S. corn acres at 94.3 million (USDA 95.3). Stats Canada reported corn for grain stocks as of 31 March 2025, were down 13% from a year ago at 7.197 million mt. Yesterday morning, the USDA announced the sale of: 40,000 mts of old crop corn and 165,000 mts of new crop corn to Mexico 115,000 mts of old crop corn to unkn

Highlights CONAB ( Brazil’s  USDA) updated its production estimates yesterday (all numbers are million mts): Soybeans: 167.369, up 1.346 from last month (USDA 169) All Corn: 122.760, up 440,000 (USDA 126) Second crop corn: 95.515, down 533,000 (USDA NA) The basis for corn, soybean, and soybean meal in Brazil was firmer yesterday despite the higher futures prices.   In Argentina , the Rosario Stock Exchange has once again reduced its projection for the corn harvest by 1.5 mill

Tidbits Yesterday’s NOPA crush  for November was down 3% from October and about 3.5 million bushels less than expected, but it was a record high for any November at 193.19 million bushels. Oil Stocks were 1.084 billion pounds; the average oil inventory estimate was 1.123 billion pounds, starting the new soy oil marketing year at the lowest level since 2014/2015.   AgRural estimates the Brazilian  corn crop at 121.3 million mts (USDA 127) and Brazil’s soybean crop at 171.5 mil

Highlights Yesterday, S&P Global reported China’s PMI rose to 51.5 in November, the highest since June as new export orders rose for the first time in four months. The market expected China’s PMI to be only 50.5. This is one the strongest one-month PMI gain ever for any country! China's November factory production expanded at the fastest pace in five months in November. New orders, including those from abroad, led to a solid rise in production, pushing manufacturers' optimism

Highlights Trump’s newly appointed counterterrorism adviser, Sebastian Gorka, says Trump plans to end the Ukraine war by threatening to flood Ukraine with military aid, making current U.S. support look like “peanuts.”    Andrey Sizov, the guru of Black Sea wheat market, reported yesterday afternoon that Russia, the world’s biggest wheat exporter, is gradually running out of inventory. "Russian total on-farm stocks: Lowest in three years, but still above average. Southern regi

Tidbits North Dakota utility regulators granted approval on Friday for a span of a proposed carbon dioxide pipeline that would cross five Midwestern states. The state’s Public Service Commission voted unanimously to approve a siting permit for Summit Carbon Solutions’ modified, 333-mile route in North Dakota. The company’s proposed $8 billion, 2,500-mile pipeline system would carry tons of CO2 emissions from 57 ethanol plants in five states for storage deep underground in Nor

Highlights Statistics Canada reported yesterday the 2024 Canadian corn crop is 15.229 million mts, down 1.2% from last year. The average estimate was 14.967 million mts with a range of 14.6-15.4 million. The Canadian soybean production is 7.15 million mts, up 2.4% from 2023, but 58,000 mts less than the average estimate. The range of estimates was 6.9 and 7.45 million mts. All wheat production at 34.373 million mts, 752,000 mts less than expected, but considerably more than t

Tidbits Soft red winter wheat made a key reversal yesterday, which occurs when the price of a stock or commodity makes a new low and closes higher than the previous day’s high. It can also be made on weekly charts and a key reversal on a weekly chart is considered a more reliable trend change indicator.   A key reversal was a respected technical indicator of trend change until 2023 and 2024. Corn, wheat, and beans have had multiple key reversals the past 14 months. But someda

Crop Feedback Justin farms in NE Kansas where almost every year the rains stop before the corn is mature while the day time highs average 90°F (32°C), which means half of the days the highs are in the upper 90’s. Justin predicts Iowa farmers will be shocked how much corn yield loss they have and will continue to lose with the dry soils and high temperatures for the next two weeks. Duane Lowry has 44 years in the grain trading/ag business industry. He is a marketing consul

Highlights Beans in Eastern Iowa are running 70-80 bu, about 7 to 8 bushels above average. Eastern Iowa and Western Illinois are the Garden Spots of the Corn Belt this year. West Central Minnesota beans are running 80-90% APH or in the 40's, which is not good for that area. A report yesterday morning reported the number of people employed in the US increased 263,000 in September, short of the Dow Jones estimate of 275,000, but above the average market estimate of 248,000. The