BASIC & RECENT MARKET INFO

Highlights All the crude oil traders saw or heard yesterday was more cases of covid infection in China than any time since the dark days...

Tidbits Tomorrow at 11 AM Central Time, USDA will issue its monthly S&D. It looks like corn yields could be increased and exports should be reduced. But remember, the anticipation of an event will move the market more than confirmation of the event. A somewhat larger corn carryover is already priced into the market. Will the increased carryover be larger or smaller than expected? The answer to that question will determine how much the market moves after the report. We do not

Tidbits China’s government grain stock piler, Sinograin, announced yesterday (Sunday) it had agreed to buy 10 million mts of soybeans from Archer-Daniels-Midland Co, Syngenta, Louis Dreyfus, Bunge Ltd, Cargill Corp and COFCO International during a signing ceremony at an event in Shanghai, which included crude oil, coal, iron ore, etc. Before you mortgage the farm and buy soybean futures, be advised this is an annual event. China imports 90 to 101 million mt of soybeans a year

Highlights China’s health officials issued a statement Saturday afternoon saying it will continue with its "dynamic-clearing" (aka: zero tolerance) approach to COVID-19 cases adding that measures must be implemented more precisely. We are not sure if "more precisely" means more or less strictly. Asked if there would be a change of policy in the near term, disease control official Hu Xiang said China's measures are "completely correct, as well as the most economical and effect

Harvest Report: Northeast Indiana: "Good Morning Roger... thought I would share with you some of my corn pics to match up with your Vomi comments. There is a total of 5 pics in what I just sent: In my area it's pretty bad. I'm not willing to dry and store this knowing that the in the future months I am betting the merchandisers are going to really get more picky. The place I am taking this too know is only doing a cumulative vomi check on random loads for the entire day and

Highlights China's former Deputy Public Security Minister, Sun Lijun, who had been denounced for months "seriously damaging the unity of the party", has been jailed for life. The announcement was made early today just ahead of a key Communist Party congress. What is more important and may or may not be related to the Security Minister’s problems, late this afternoon China time, all commercial flights into and out of Beijing and about 60% of China’s commercial flights have be

Soybean Prices at Immediate Risk US Considering Pre-emptive Sanctions on China CHS is the largest agriculture coop in the world. They load a lot of ships with grain in the PNW for China delivery. Three hours ago, CHS’ Kevin Stockard: The U.S. is reportedly considering sanctions against China to discourage them from invading Taiwan. Two hours ago, CNBC reported: The United States is considering options for a sanctions package against China to deter it from invading Taiwan,

Highlights A few days ago, we reported a client’s fuel supplier told him that they were unable to get a load of diesel and their truck had to come home empty. No reason was given. Another of our clients did some research and learned that an electrical fire disabled the ability for the supplier to load tankers. Thanks, Don. USDA announced yesterday morning the sale of 264,000 mts of new crop soybeans to unknown destination. Soybeans settled yesterday 24 cents off the day’s l

Highlights December corn gapped higher last evening for the third time since the low was made July 22nd. None of the gaps have been filled as of midnight Sunday. Repeated gaps that are not filled are bullish, and more bullish. Take a look at the daily chart: Wayne Bacon has been involved with international grain trade for 59 years and is highly respected by us young guys. His weekly comments on Saturday included this: There were quite a few analysts who stated new crop soybea

Highlights Pro Farmer Tour Comments Sarah Jungman, Commodity Broker: 22 stops kept us on the go. Best field sample was irrigated 238 bpa (only field from Sioux Falls, SD to Grand Island, NE over 200 bushels). Best looking Nebraska dry land corn sample 138 bushels. Lowest yield of the day 17 bpa. Karen Braun, Ag Reporter, Reuters News Service: South Dakota corn yields averaged 118.45 bu/acre, 33 bushels less than 2021 and easily the tour's worst since 2012 (which was WAY wors

Highlights Did you notice that yesterday morning’s weekly export sales chart we sent you showed last week’s corn export sales were near the top end of the range of estimates and soybean sales were well above the top of the range? Those who say demand for corn and beans is poor do not know what they are talking about. Soybean meal sales in China have jumped this week. The 5 day moving average was 90,000 mt per day a week ago and now it is 260,000 mt per day. Nope, no demand

Highlights Yesterday morning, the USDA announced the sale of: 132,000 mts of new crop soybeans to China 132,000 mts of new crop soybeans to unknown destinations China is going to punish the US for Pelosi’s visit to Taiwan by suspending eight “cooperation mechanisms”: Dialogue with the US at the level of regional military commands. Working meetings with representatives of the Ministry of Defense. Meetings with US representatives under the Maritime Security Mechanism. Negotiat

Highlights Yesterday’s rumors were China bought 2-3 cargos of US soybeans and as many as 6 bean cargos from Brazil all for September shipment. Considering US beans at the Gulf are $25 per ton cheaper than Brazilian beans and Brazil’s short crop this past harvest means they have about 20 million fewer mts of beans to export, we are thinking it is more likely most of those rumored beans sales were US beans. China may be Communist, but they are not stupid Communists. A Benson-Qu

Highlights Nancy Pelosi’s plane arrived in Taiwan yesterday mid-morning just before beans tested their low for the day. The whole world was watching because China said they would retaliate militarily if she set foot in Taiwan. Apparently, the soybean and crude oil market were relieved her plane did not get blown out of the sky before its arrival as prices rallied after her plane landed, but then prices sunk back to near the lows of the day on the close. She has to get out of

Very few analysts dared predict the crop ratings released by USDA this afternoon, but Benson-Quinn analysts expected a slight downgrade. Corn percentage in the top two categhories was steady and beans improved 1%. The corn in Illinois and Indiana improved 3%, but Nebraska was down 3% and Iowa was down 4%. That sounds bullish for corn. The story was pretty much the same for beans. The numbers: In hind sight, today’s trading was dominated by macro-economic factors rather than

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About USDA Acreage report

Highlights At 10 AM Mountain Time today, the USDA will release its Actual Planted Acres, Quarterly Grain Stocks and Wheat Production Reports. Corn has sold off and beans have rallied going into today’s reports. The analysts expect about a half million more corn acres and a half million fewer beans than the March Intentions. However, based upon market action, the market expects about 2 to 2.5 million more corn acres and 1.5 to 2 million fewer bean acres. It will be very diffi

Highlights Despite a shrinking corn crop, Argentina raised its corn export limit from 30 million mt to 35 million mt. That pressured corn...