BASIC & RECENT MARKET INFO

Tidbits AGRural lowered Brazil soybean production estimate by 9 million to 150.1 mil mts.   Dr. Michael Cordonnier: Lowered Brazil soybean estimate by 2 mil to 149 mil mts (USDA at 157). Lowered Brazil corn estimate by 2 mil to 115 mil mts (USDA at 127). Increased Argentine soybean estimate by 2 mil to 52 million mts. Increased Argentine corn estimate by 3 mil to 56 million mts.   Farmers’ protests continue in Germany blocking highways and accumulating in Berlin. Demand is to

At 10 AM Mountain Time today, the USDA will release its final 2023 Crop Production, Quarterly Grain Inventory as of December 1st, Actual Planted Winter Wheat Acreage Reports and the USA and World S&D.   The market expects slight reductions in 2023 US corn and bean crops, larger corn inventory and a smaller bean inventory than a year ago, with South American production down slightly from last month, and less US winter wheat acres than a year ago. Our mailing yesterday had the

Highlights The weather outlook for Brazil’s main growing area looks to be turning drier and warmer next week. Watch the number of rain days in the 10 day forecast we report every day. The first two locations, Rondonópolis and Campo Grande, are in the central part of Brazil where most of the beans and corn are grown.     India is the world’s largest user of urea and it imports ~30% of its urea, which makes it the world’s largest importer of urea. What India pays for urea is th

Tidbits Dr. Michael Cordonnier reduced his Brazilian soybean production by 2 mil mts to 151 million.   StoneX cut its estimate for Brazil's soybean crop to 152.8 mil mts, down from its previous estimate of 161.9 mil. mts and corn was reduced 1.4 mil. mts to 124.6 mil mts.   Agronomic firm, Pine Agronegócios, reported yesterday: "Harvest of soja in Campo Verde/Mato Grosso an area of 300 ha (741 acres) with a yield of ~20 sacs/ha. (17.81 bu per acre). The region is one of the m

Highlights The Producer Price Index (PPI) is the measure of inflation at the wholesale level and the Consumer Price Index (CPI) is the rate of inflation at the retail level. This morning, China reported both indexes. The PPI annual rate was expected to be -2.7% (deflation). The actual PPI was a -2.6% (less deflation than expected, which is good) The annual CPI rate was expected to be -0.1%. The actual CPI was -0.2% (not terrible, but worse than expected). From MetSul Meteo

Highlights USDA issues an Export Inspections Report the first business day of every week which reports the amounts of commodities loaded on a ship, train, or truck, ready to leave the USA. The soybean export inspections were the market shocker yesterday morning when reported to be 1.643 million mts, double the high end of the range of expectations. That was later corrected to 1.036 million mts. While the reduction was disappointing, there were still way more beans exported t

Highlights Today is the last business day of the week, the month and the quarter and there is only one business day (Monday) until the middle of next week. Throw-in the changing weather forecasts and the war in Eastern Europe, you better get a seat belt for your office chair. December corn settled yesterday below the gap made the first week of June on the daily chart. Technically, bad news if one wants corn to go higher. However, the settlement was 38¢ above the May low, so a

Highlights Farm Futures 2023 acreage survey released Friday favors beans over corn: Corn: 87.677 million (88.579 last year, USDA Outlook: 91.0) Soybean: 89.620 (87.45 last year, USDA Outlook: 87.5) All wheat: 45.744 (45.738 last year, USDA Outlook 49.5) Winter wheat: 34.417 (33.271 last year) Spring wheat: 10.152 (10.835 last year) Durum wheat: 1.175 million (1.632 last year) Cotton NA (13.76 last year) Sorghum NA (6.3 last year) Barley NA (2.945 last year) Oa