BASIC & RECENT MARKET INFO

Tidbits Yesterday morning, the USDA announced the sale  of: 202,000 mts of old crop soybeans to China 226,200 mts of old crop soybeans to unknown   The Biden Administration closed the U.S. Embassy in Kyiv,  Ukraine because of the escalating war. Historically, the U.S. has kept U.S. Embassies open until the very last possible day because it is the last safe-haven for Americans and America’s friends in the country. Following the U.S., Italy, Spain and a number of other countrie

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), fuel , fertilizers for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Market outlook after the close Tuesday, November 19 , 2024. Corn December corn settled yesterday at $4.27¼, -1¼¢ since last Tuesda

Highlights Two telecommunications cables cut in the Baltic Sea in 48 hours prompted European officials to say Tuesday that they suspect "sabotage" and "hybrid warfare" linked to Russia's invasion of Ukraine.   The four countries affected by the cuts, Finland, Germany, Lithuania, and Sweden, have all launched investigations, with Berlin and Swedish police saying they suspected sabotage. Two Danish navy ships began shadowing a Chinese cargo vessel, the Yi Peng 3, as it sailed o

Highlights December basis contracts and long futures positions need to be liquidated or rolled by the close of business on Wednesday, 27 November. Given that December options expire this Friday and December delivery assignments will be issued on the evening of 27th, we recommend you roll basis contracts today or tomorrow to avoid the usual weakness associated with options expiration and first notice day. There are probably a lot of December corn basis contracts. When December

Successful International Trade Negotiations Require Tough Negotiators Japan was the largest importer of U.S. agricultural products just...

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

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. Dow Jones  Industrial Average Index settled at 43,445, -544.00 points for the week. Crude oil  settled at $66.95, -3.48. Dollar Index  settled at 106.67, +1.72. Baltic Dry Index  (a shipping freight-cost index)  settled at 1,785, +290 for the week. Corn December futures  at $4.24, -7¢ for the week. Basis   (Z = Dec; e.g. 10Z means 10¢ over December futures) (Futures price + Basis = Cash

Highlights The National Oilseed Processors Association (NOPA) soybean crush was an all-time monthly high in October. NOPA members crushed 199.959 million bu., eclipsing the record of 196.406 million bu. set in March of 2024. To learn all about NOPA, go to: https://www.wrightonthemarket.com/post/about-the-nopa   "The economy is not sending any signals that we need to be in a hurry to lower rates" , said Federal Reserve Chair Jerome Powell on Thursday during a speech in Dallas.

Highlights This news report was what kicked soybeans in the head late yesterday morning: a bill to revoke China's (most favored) trade status has been introduced in the US Congress. The author is Republican John Moolenaar (Michigan), chairman of the lower house's China Committee. The document proposes  increasing tariffs: 35% strategic goods 100% non-strategic goods   Republicans control the lower house. The new document will become the basis for Trump's tariff policy. In res

Highlights The Labor Department reported yesterday morning the Consumer Price Index  (CPI; inflation at the retail level) increased 0.2% in October, taking the 12-month inflation rate up to 2.6%. Both numbers were in line with expectations. Later this morning, we will get the Producer Price Index (PPI), the measure of inflation at the wholesale level. The market expects it was up 0.2% in October as was the CPI. CPI chart for the last years: On Ag Talk, a Cherokee, Iowa farmer

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), fuel , fertilizers for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain We will post Bullish Consensus on Thursday's daily report. Corn Corn  situation after the close Tuesday, November 12 , 2024: Decem

Highlights Yesterday, a stronger dollar (six month high), fear of Trump tariffs, improving weather in Eastern Europe, Western Europe, South America, and in the U.S. winter wheat area all combined to encourage profit talking and then technical selling kicked-in.       Wheat market  guru, Andrey Sizov had this to say about the wheat market yesterday: "Over the weekend, Kansas received 20-40 mm (25.4 mm = 1 inch)  of precipitation, offsetting the moisture deficit accumulated ove

Tidbits Weekly Export Inspections will be released today at 10:00 a.m. CDT. Crop Progress and Conditions will be released after the close on Tuesday.   Yesterday morning, Cargill’s crush plant at Sidney, Ohio sent a text to farmers stating they were paying $10.50 for beans in November. Their website quote at the same time was 3 under the January, at $10.30. Early this morning, their website still was 3 under the January futures.   As on Friday China announced a $1.4 trillion

Tidbits The Panama Canal uses fresh water from Gatun Lake to fill the locks to raise the ships. The water level of Gatun Lake is right where it normally is this time of year, just shy of 88 feet. A year ago, it was just shy of 80 feet and traffic through the canal was restricted.   The United Nations reported world food prices rose in October to an 18-month high as vegetable oils led to price increases of most food staples.   The 29th Conference of the Parties to the UN Frame

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. Dow Jones  Industrial Average Index settled at 43,989, +1,936.80 points for the week. Crude oil  settled at $70.43, +1.10. Dollar Index  settled at 104.95, +0.63. Baltic Dry Index  (a shipping freight-cost index)  settled at 1,495, +117 for the week. Corn December futures  at $4.31, +16½¢ for the week. Basis   (Z = Dec; e.g. 10Z means 10¢ over December futures) (Futures price + Basis = C

Highlights Two men were arrested in New York City and a third is being sought as an Iranian plot to kill  Donald Trump was foiled.     The Biden Administration has lifted sanctions  on Russian banks while still promising to cut Russia off from the Western financial system. The US Treasury Department cleared energy-related transactions with Otkritie Bank, Zenit, Saint Petersburg, Sovcombank, Sberbank, VTB, Alfa Bank, Vnesheconombank, Rosbank, the National Clearing Center (NCC)

Highlights On the November S&D, USDA reduced corn yields by 0.7 bu. to 183.1 bu. and an even bigger surprise was a 1.4 bu. reduction of soybean yields to 51.7 bushels per acre. The soybean yield was lower than the lowest yield estimate by three-tenths of bushel!   Corn yield was reduced for all the states along the Atlantic Seaboard as well as Kentucky down 3.2 bu., Illinois down 1.8 bu., Missouri down 1.6 bu., Nebraska down 1 bu., Iowa and Wisconsin both down 0.5 bu. But Ind

The numbers were: Friendly Corn Bullish Soybeans Neutral Wheat   17 Minutes After the Report: Dec corn +4.5 Nov beans +8.5 Dec CBOT wheat...

At 10 AM Mountain Time today the USDA will issue its November S&D.  On Wednesday, an EPA auditor gave an agricultural commercial chemical applicator, who does business with one of our clients, a set of new regulations that went into effect Wednesday. The applicator told our client these new regulations will require some serious limitations in 2025. The limited information our client has is that the new regulations have something to do with the Endangered Species Act. If any o

Highlights Leaders of foreign countries who sell products to the U.S. markets, are scurrying to prepare to deal with President Trump’s...