BASIC & RECENT MARKET INFO

Highlights Canada is taking similar measures in response to U.S. President Donald Trump's 25%  tariffs on its goods, Canadian Prime...

Highlights Despite many rumors and some “reports” Friday to the contrary, the White House confirmed in a press briefing tariffs  they will go into effect today. The Press Secretary Karoline Leavitt stated, "The President will be implementing tomorrow, 25% tariffs on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl that they sourced and allowed to distribute into our country which has killed tens of millions of Americans."   President Donald Tr

Highlights The weather forecast has rain coming to the dry areas of South America a day sooner next week than expected yesterday, but the wet area looks less likely to dry out, but rainfall amounts are reduced. Thirty minutes before Wall Street closed yesterday, Trump said Saturday would be tariff decision  day. Trump added he’s still mulling whether the tariffs will hit oil too. “We may or may not, we’re going to make that determination probably tonight based on oil prices”.

Highlights Colombia’s President Petro late Sunday agreed to all of President Trump’s terms on the deportation of migrants. Colombia is a top 5 buyer of U.S. corn and soybean meal while the U.S. is Colombia’s number one trading partner and buys nearly one-third of Colombia’s total exports. Colombia sends crude oil, gold, bananas, fresh-cut flowers, and more than one-quarter of US coffee imports come from Colombia. U.S. tech stocks  were sharply lower yesterday, after Chinese A

Highlights Weather in Argentina is the single most important factor for the price of soybeans from now until the rains start. Argentina’s crop areas saw mostly 100°F (38°C) or higher yesterday as the debate about when the showers will start became the number one topic for the bean market. There is no consensus when the showers will come, but there are plenty of opinions and conflicting forecasts.   Reuter’s World Agriculture Reporter Karen Braun issued this report after the

Due to a National Day of Mourning for former President Jimmy Carter, equity and stock option markets will be closed today. Agricultural futures markets will close early at 12:15 pm CDT today and re-open this evening at normal times. Highlights As you know, we have been encouraging you soybean owners to get your beans sold by 12 January. That recommendation has nothing to do with tomorrow’s USDA world S&D. The soybean sale recommendation is based on the historical fact that wh

Tidbits Computer selling  completely got out of hand yesterday. It all started because the market continues to expect the largest ever soybean crop in Brazil, which is the same expectation every year for the last 50+ years. Beans eventually pulled corn lower and then corn pulled wheat lower. The economic problems in Brazil, Congress may not be able to get a bill passed to keep the government running into the new year, and uncertainty about the biofuel guidelines also added to

Tidbits The Institute for Supply Management (ISM)  manufacturing index, also known as the purchasing managers' index (PMI), is a monthly economic activity based on a survey of purchasing managers at manufacturing firms nationwide. It is considered to be a key indicator of the state of the economy. In the U.S., several organizations conduct a survey and report their PMI results.   The ISM PMI, which is announced on the first business day of each month, can greatly influence in

Tidbits The American economy  expanded at a healthy 2.8% annual pace in the third quarter of 2024 on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of GDP growth in the third quarter, which was 0.2% less growth than in the second quarter.   U.S. GDP expansion has topped 2% for 8 of the last 9 quarters. The Commerce Department will issue its final third quarter 2024 GDP report on Dec. 19.   Consumer spendi

Tidbits Yesterday morning, the USDA announced the sale of 132,000 mts of old crop soybeans to China.    The 2 to 5 trading days before the delivery notices  are issued are usually more down days than up. December deliveries will be assigned to the oldest long positions tomorrow. Yesterday was the last day to liquidate December positions to avoid any chance of delivery. Soft red winter wheat was down 4 of the last 6 days; Dec hard red winter wheat was down 4 of the last 6 days

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

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 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 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

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 Wayne Bacon of Hammersmith Reports has been involved in the international grain trade for more than 60 years. His comment this week on corn: "Corn had a good week for export with large sales to Mexico and a new shipment loading to Tunisia in NOLA. I have not seen US corn sold to Tunisia in quite a while. The US Grains Council office in Tunis says that more US corn business is expected for Tunisia."   Tunisia  is in North Africa, a hop, skip, and a jump from the Bla

A German Lesson In the days before paper currency, there were very few money supply problems. As populations grew and society shifted...

Highlights Yesterday morning, the USDA announced the sale  of: 715,800 mts of old crop corn to Mexico 65,532 mts of new crop corn to Mexico 132,000 mts of old crop soybeans to China 198,000 mts of old crop soybeans to unknown 30,000 mts of old crop soybean oil to India The USDA reported the September crush numbers  for: Soybeans: Crush was 187 million bushels, 12 million more bushels (6.8%) than a year ago. The soy oil inventory at the end of September was 5% more than a year

Highlights December crude oil  made a 4-week low Tuesday after Israel's weekend retaliatory strike was very limited and raised hopes that the direct attacks between Iran and Israel were over for the time being. Iran said on Monday its oil industry was operating normally despite the weekend strike by Israel. The risk premium in oil prices was further reduced Monday when Israel said it was open to a short truce in Gaza in return for the release of a small number of hostages.  

Highlights Yesterday morning, the USDA reported the sale of: 132,000 mts of old crop soybeans to China 132,000 mts of old crop soybeans to unknown 273,048 mts of old crop corn to unknown Angie Setzer reported: “ Tuesday’s weakness in beans was due to rumors that China is planning to shut down ports for 2-3 weeks to update their quarantine rules. While this is not unusual, considering something similar happened twice last year, it does create some uncertainty over the pace of