BASIC & RECENT MARKET INFO

Commitments of Traders report for publication date February 3, 10 & 17, 2023, is delayed due to ransomware attack on ION Group, UK. A...

Highlights Yesterday morning's US retail sales were reported up 3% in January vs. expectations of 2%. Good economic news is bad news for commodity prices as the dollar index goes up… you know the drill. Brazil’s soybean basis has weakened about 40 cents a bushel this week. That was the main reason beans were so weak yesterday. The crushers are getting enough beans to fill their storage space and now the export buyers will be able to get some beans. Thus, the extended bean ex

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, February 14 , 2023: March corn settled on Tuesday at $5.82¼, +8¼¢ from last Tuesday. December corn settled on Tuesday at $5.97¾, +4¼¢ since last Tuesday. The past 7 days’ high was $5.98¾, the low was $5.89¾. Contract high is $6.79¼ made Apr 27, 2022;

Highlights The soybean fields of Argentina and Rio Grande do Sul (RGDS), Brazil’s southern state, had temperatures 100 to 104°F (38 to 40°C) over the weekend with the next 7 days predicted to be above normal temperatures and below normal, but with some rainfall, the next few days. Up until late January, the market bought the baloney that any drought in Argentina and RGDS resulting in fewer beans would be more than offset by the above average rainfall in Northern Brazil. We

Commitments of Traders report for publication date February 3 & 10, 2023, is delayed due to ransomware attack on ION Group, UK. A report will be published somewhat later, we will keep you updated when it resolves. The Dow Jones Industrial Average (DJIA) settled at 33,869.27, down 56.74 points for the week. Crude oil settled at $79.76, up $6.53. The Dollar Index settled at 103.58, up 0.59. The Baltic Dry Index (a shipping freight-cost index) settled at 602, down 19 for t

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn, soybeans...

Commitments of Traders report for publication date February 3, 2023, is delayed due to ransomware attack on ION Group, UK. A report will...

Highlights Brazil’s soybean harvest starts in January and their corn export program ends at the end of January because they must switch their limited infrastructure to export soybeans. Right on cue, yesterday’s weekly export sales of corn were 1.593 million mt, almost 400,000 mts above the high end of expectations. It was the second largest weekly corn sales of the marketing year and, perhaps more important, China bought 319,000 mt. They had been buying record large tonnage f

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, January 31 , 2023: March corn settled on Tuesday at $6.79¾, up 8¾¢ for the week. December corn settled on Tuesday at $5.90¾. Price change Tuesday to Tuesday: down ½¢.

Highlights Mato Grosso (MT) grows 30+% of Brazil corn and beans. It is 2.5 times the size of Texas. Its soybean harvest is 13.6% complete vs 31.8% last year. Last year was a little faster than normal harvest pace for beans and planting safrinha corn. If the rains continue to substantially delay soybean harvest for two more weeks, the safrinha crop production will be substantially reduced and very bullish corn. Soybean export inspections yesterday were 68 million bushels; wha

The Dow Jones Industrial Average (DJIA) settled at 33,978.08, up 602.59 points for the week. Crude oil settled at $79.38, down $2.31. The Dollar Index settled at 101.92, down 0.07. The Baltic Dry Index (a shipping freight-cost index) settled at 676, down 87 for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.83, up 6¾¢ for the week. December futures at $5.87¼, down 8½¢.

"Roger, I just finished your (yesterday’s) newsletter and I liked your analysis on the 13 % spread on soybean export numbers, which I agree can be a big deal, but what about the 37% spread on Soy oil, is that not worth mentioning???????" Good morning, Ben, Yes, the soy oil export situation should be addressed. I am certain many other subscribers have the same question, especially the ones who have not been with us very long.

Tidbits The real (ree-al) is the currency of Brazil. As its exchange rate strengthens in the world markets, it makes Brazilian exports more expensive, just like every country with a strong currency. And, just like every other country with their currency increasing in value, the market value of their exports must be reduced to be competitive in the world marketplace. Brazil's corn and soybean prices are declining as the exchange rate of the real rises. Farmers are not sellin

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn, soybeans...

Highlights Hard red winter wheat led the wheat markets lower yesterday due to rain in the Southern Plains with more on rain tap. Beans and corn were lower due to rain in Argentina and the beans got an extra kick-in-the-head as the market continued to price-in the soon-to-be-made Brazilian crop. It was encouraging that March soft red winter wheat managed to recover enough to settle in the technical support area of $7.20, which supported the higher opening last evening. Eve

The Dow Jones Industrial Average (DJIA) settled at 33,375.49, down 927.12 points for the week. Crude oil settled at $81.69, up $1.62. The...

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, January 17 , 2023: March corn settled on Tuesday at $6.85¼, up $0.30½ for the week. December corn settled on Tuesday at $6.03¾. Price change Tuesday to Tuesday: up $0.14½. The past week’s high was $6.04½, the low was $5.83¾. Contract high is $6.79¼

The Dow Jones Industrial Average (DJIA) settled at 34,302.61, up 672.00 points for the week. Crude oil settled at $80.07, up $6.34. The Dollar Index settled at 102.18, down 1.73. The Baltic Dry Index (a shipping freight-cost index) settled at 946, down 184 for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.75, up $0.21 for the week. Basis (H = March; e.g. 10H means 10 over March) (Futures price + Basis = Cash price) US natio

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat for past week Wednesday to Tuesday. Corn Corn situation after the close Tuesday, January 10 , 2023: March corn settled on Tuesday at $6.55. Price change Tuesday to Tuesday: down $0.15½. The past week’s high was $6.71¾, the low was $6.48¼. Contract high is $7.68½ made May 16, 2022; Contract low is $3.95¾ made Dec 15, 2020; Rang

The Dow Jones Industrial Average (DJIA) settled at 33,630.61, up 483.36 points for the week. Crude oil settled at $73.73, down $6.78. The Dollar Index settled at 103.91, up 0.42. The Baltic Dry Index (a shipping freight-cost index) settled at 1,130, down 385 for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.54 down $0.24½ for the week.