BASIC & RECENT MARKET INFO

Highlights Yield Report: Southern valley in North Dakota saw wheat yields around 50 bushels, which is average to a little below. Bean yields have been in the 40 to 45 range, which is disappointing and early corn yields have been coming off around 150 to 160. The corn yields are very disappointing. Thank you, Jacob Kubela, who is a grain market consultant in Wahpeton, North Dakota: jake@kubelahedging.com , (701)403 3472. Banks and government workers will have a holiday Monday

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

Crude Oil Price Makes 8 Month Low Overnight There was no physical reason for crude oil prices to drop more than $1.70 barrel over night. The decline was caused by respected people and organizations saying the world economy will be using less crude oil early in 2023 because of the gloom and doom economic outlook. We still have a war in Europe, hurricanes in the Gulf, a growing US economy (based on Friday's PMI), all time high electric and natural gas prices in Europe and relat

Highlights The Purchasing Managers’ Index (PMI) is collected monthly. The person who buys the inputs for their company is asked if he will buy more or less inputs in the next 30 days. A PMI of 50 means the same amount of inputs are expected to be bought in the coming month as the previous month. The purchasing managers index has become a much followed monthly index to measure countries’ economic health. Yesterday’s USA PMI data was not nearly as negative as expected. The man

September S&D The USDA unexpectedly reduced the domestic carryout for both corn and beans by four days' use and the wheat carryover was left unchanged, as expected. The world soybean carryover was unexpectedly reduced by two days with corn and wheat world carryovers unchanged, as expected. That sums-up pretty much all you need to know about the price outlook for all three commodities. Everything the USDA reported on beans yesterday was bullish. Yield was a bushel less than e

Highlights Yesterday morning, the USDA announced the sale of: 226,920 mts of old crop (2022 crop) corn to Mexico 30,480 mts of new crop (2023 crop) corn to Mexico Wheat screamed higher yesterday morning about the time we sent our morning mail. Putin said at that time the grain export deal for Ukraine's wheat to keep millions of people from starving in Africa is not working. Putin said 80 ships have left Ukraines and two of them, only two, went to Africa. All the rest went to

Highlights USDA announced yesterday morning the sale of 396,000 mts of soybeans to unknown. Taiwan shot down a Chinese drone for the first time Wednesday. It was a “civilian” drone in Taiwan’s airspace. Escalation of tension between Taiwan and China is negative for beans and, to a lesser extent, corn, because the US militarily supports Taiwan. Anything that creates friction between those two countries increases the chances of soybean trade between the US and China. Note that

Highlights USDA announced yesterday morning the sale of 167,000 mts of new crop soybeans to China. Crop Consultant Dr. Michael Cordonnier reduced his corn yield forecast by 3 bushels to 170. Allendale’s yield producer survey has corn at 172.39 bpa (USDA 175.5; Pro Farmer 168.1). Aflatoxin problems in corn in the Southern States. USDA expects regular reporting of weekly export sales to resume September 15th due to problems with its new system last week. All markets hate un

Highlights

Highlights The USDA June S&D will be released at 11 AM Central time today. Do not expect many changes on the domestic S&D; we can certainly expect more soybean exports and probably more corn exports. Yesterday morning, USDA announced the sale to unknown buyer of: 500 mts of old crop soybeans 142,500 mts of new crop soybeans July soybean futures China’s Dalian Exchange made a new all-time yesterday at the equivalent of US$22.84 a bushel. The rumor is Brazil’s government is con

Highlights Tomorrow at 10 AM Mountain Time the USDA will issue its monthly S&D with revised world production numbers. Not much is expected other than soybean exports should be increased 25 to 30 million bushels. The USDA will wait until the Quarterly Stocks and Actual Planted Acres Reports on 30 June before making big changes on the July S&D. India may get the UN nod to export 600,00 mt of wheat. Supposedly a big relief to traders, shippers, importers, and logistics partners