BASIC & RECENT MARKET INFO

Tidbits The USDA will release its monthly US and world S&D today at 10 AM Mountain Time. CONAB, Brazil’s USDA, will also release its latest production estimates this morning several hours before USDA as will StatsCanada issue its grain inventory reports. Yesterday, March cocoa was up $190 and July was up $130 per mt. Soybeans Crush and Exports Commentary In February 1972, Nixon visited Communist China and sold them massive amounts of wheat, and he did the same in Moscow thr

Highlights The US House of Representatives passed a funding bill to keep the government open until November 17th. If things go according to plan, there will not be a partial government shutdown and the USDA reports will continue as scheduled, which is positive for CBOT prices. Markets, especially grain markets, do not like uncertainty. The USDA announced Friday morning that 223,540 mts of corn were sold to Mexico; just a reminder, Mexico bought 1.6+ million mts earlier in the

Highlights China is buying crude oil that would normally go to Europe, where oil traders are still adjusting to the phase out of Russian oil. China bought 5 million barrels of mostly Kazakh crude oil, all of which a week ago was expected to go to Europe where crude demand is growing as the economy is doing better than expected. As China recovers from covid lock-down and sickness, Chinese demand for crude will grow, especially after China’s Lunar New Year at the end of Januar

Let's talk about US Grain Export Inspections and Export Sales The USA exports about 16% of its corn production, 48% of its soybeans, 52%...

The price outlook we have remains lower wheat into August with old and new corn and beans to make new highs in the May June time frame....