BASIC & RECENT MARKET INFO

Highlights The Nord Stream Pipeline is a natural gas pipeline from Russia to Germany running through the Baltic Sea, financed by Russia’s Gazprom and several European energy companies. A Pulitzer Prize-winning journalist, Seymour Hersh, reported last Wednesday that the Biden Administration decided to damage the pipeline to prevent Russia from boosting its income while reducing the dependence of Western Europe on inexpensive Russian gas. Now, four days later, it appears that

Highlights Yesterday’s weekly export sales had soybeans at their lowest or second lowest sales of the marketing year. Before you panic and sell every bean, note that the lowest weekly soybean exports of the marketing year (which began 1 September) is always a month or so after Brazil starts to harvest soybeans. In fact, the lowest sales week of the marketing year usually comes the first or second week of January because Brazil’s soybean harvest usually starts in late December

Highlights The USDA monthly S&D and World Production reports will be issued today at 10 AM Mountain Time. Russian military units are moving into Eastern Ukraine; rumor is February 15th is the day of attack. Last year, it was February 24th. The struggling Indian conglomerate, Adani Enterprises Ltd, stock prices were up 14.64% Tuesday, as the investment world breathed a collective sigh of relief. Tidbits Mexico’s Secretary of Economy said this about US GMO corn imports in 202

Highlights The Dollar Index made a ten-month low Thursday and then rallied sharply Friday after the January jobs report stated the US added 517,000 jobs. The market expected only 185,000 new jobs. For any economy to add three times more jobs than expected in one month is blockbuster good news. Demand for goods and services will explode! But, not in the USA... The current managers of the United States monetary policy manage the economy by adding money to the money supply to s

Highlights Brazilian bean market analyst, Eduardo Vanin, reports the soybean harvest in Mato Grosso (MT) is being delayed by excessive rain. Take a look at our rain days chart below to see why; the first three locations are where 85% of Brazil’s beans are grown. A form manager with 270,000 acres in MT reported harvest is only 7% complete whereas normally they would be 30% done. He said it is too early to talk about yield losses and he still expects 3 to 5 bushels more than a

After Friday’s normal closing time, CBOT will not reopen until Monday evening in observance of MLK. Highlights The USDA will dump a truck load of numbers at 10 AM Mountain Time today. We do not expect any big surprises, but if there is one (or more) surprise, we expect it will be bullish in the form the USDA will say the US grain inventory is less than the market expects and/or the South American crops are smaller than expected. Any bearish news will be a gift opportunity for

Highlights The World Bank expects global economic growth to be 1.7% in 2023 and 2.7% in 2024 with the Russian economy to contract by 3.3% in 2023 and expand 1.6% in 2024. Goldman Sachs, on the other hand, said the US economy may avoid a recession entirely. They are a lone wolf among Wall Street firms and economic think tanks. For those of you who have been with us for a while, know we have been saying the same thing for several months. Goldman goes so far to say the EU may al

Highlights The Tech Guy was right and Roger was wrong. The USDA reports will be issued Thursday the 12th, not Friday the 12th. The dollar index is at a six-month low despite higher interest rates. The spot month CBOT wheat futures price was $10.71 (now $7.42), the US carryout was at 121 days’ supply (now 112 days), the world carryout was at 124 days’ supply (still 124). Wheat is the most sensitive ag commodity to the exchange rate of the dollar. Usually, if wheat was down,

Highlights Last month, insurance companies said they would add war risk to the ships in the Black Sea as of January 1st. Last week, the cost to charter a freighter to or from the Black Sea was up more than 20% as insurance companies did what they said they would do. Freight rates from Black Sea to China went from $68 to $82 per mt. That price increase will go a long way to make US wheat and corn more competitive in the world marketplace. Did you notice the US wheat basis firm