BASIC & RECENT MARKET INFO

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

Highlights Big spec and index fund managers as of last Tuesday were net long 141,877 contracts of bean meal futures and options. That is the largest long position ever, up nearly 12,000 on the reporting week and funds' 6th consecutive week of buying. The prior open interest record was set May 1, 2018. What does that mean? It means the next person to buy soybean meal futures very well may be the last person to buy bean meal at such a high price for a very long time. But there

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 3 , 2023: March corn settled on Tuesday at $6.70½. Price change Tuesday to Tuesday: down $0.04¾. The past week’s high was $6.85, the low was $6.68.

The Dow Jones Industrial Average (DJIA) settled at 33,147.25, down 56.68 points for the week. Crude oil settled at $80.51, up $1.16 for the week. The Dollar Index settled at 103.49, down 0.84 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,515, steady for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.78½ up $0.12¼ for the week. Basis (H = March; e.g. 10H means 10 over March) (Futures price +

Our Wednesday mailing included this statement: It is not a coincidence that the price of wheat has rallied 50 cents as the funds liquidated some of their short (sold) positions. Will they continue to be buyers? We will have to wait and see, but we can conclude anyone shorting (selling before buying) CBOT wheat right now will provide that trader with a high probability of a major league losing position. A client asked if that statement meant he should be selling wheat. No, S

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, December 27 , 2022: March corn settled on Tuesday at $6.74¾. Price change Tuesday to Tuesday: up $0.22¾.

The Dow Jones Industrial Average (DJIA) settled at 33,203.93, up 283.47 points for the week. Crude oil settled at $79.35, up $4.85 for the week. The Dollar Index settled at 104.33, down 0.51 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,515, down 45 for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.66¼ up $0.13¼ for the week. Basis (H = March; e.g. 10H means 10 over March) (Futures price +

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, December 20 , 2022: March corn settled on Tuesday at $6.52. Price change Tuesday to Tuesday: down $0.01¼. The past week’s high was $6.55¾, the low was $6.44.

The Dow Jones Industrial Average (DJIA) settled at 32,920.46, down 556 points for the week. Crude oil settled at $74.50, up $2.91 for the week. The Dollar Index settled at 104.84, down 0.09 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,560, up 174 for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.53 up $0.09 for the week. Basis (H = March; e.g. 10H means 10 over March) (Futures price + Basi

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, December 13 , 2022: March corn settled on Tuesday at $6.53½. Price change Tuesday to Tuesday: up $0.16¼.

The Dow Jones Industrial Average (DJIA) settled at 33,476.46, down 953.42 points for the week. Crude oil settled at $71.59, down $8.75 for the week. The Dollar Index settled at 104.93, up 0.42 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,386, up 62 for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.44 down $0.02¼ for the week. Basis (H = March; e.g. 10H means 10 over March) (Futures price +

Tidbits Yesterday morning, the USDA reported the largest one day bean sale since April: 118,000 mt of soybeans to China 718,000 mt of soybeans to unknown January soybean futures on the Dalian Exchange (China) settled at a five month high of US$20.01. The USDA will release its December S&D today at 11 AM Central. There will be no changes in the US production numbers. World production numbers are all subject to change and all foreign and domestic demand numbers are subject to

Highlights Ukrainian drones struck a third Russian airfield hundreds of kilometers into Russia. The range of the drone attack surprised a lot of people; but just another escalation of the war. Yesterday, China announced sweeping changes to its COVID policy; the people have more freedom to circulate than any time the past three, yes, three years! That is bullish beans and crude oil as they will be able to get back to work consuming more of everything, but remember, the anticip

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, December 6 , 2022: March corn settled on Tuesday at $6.37¼. Price change Tuesday to Tuesday: down $0.32¼. The past week’s high was $6.72½, the low was $6.35¾.

The Dow Jones Industrial Average (DJIA) settled at 34,429.88, up 82.85 points for the week. Crude oil settled at $80.34, up $3.79 for the week. The Dollar Index settled at 104.51, down 1.55 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,324, steady for the week. Below is corn, soybeans and wheat basis outlook this week. Corn March futures at $6.46¼ down $0.25 for the week. Basis (H = March; e.g. 10H means 10 over March) (Futures price +

Highlights The House of Representatives passed a resolution yesterday to force the adoption of the agreement by the railroads and the unions and passed a second resolution requiring the railroads to allow seven days of sick leave for the union members. The Senate must approve both measures for it to be sent to the White House for Biden to sign. Will the Senate pass the same two bills? Probably. Will Biden sign it? Probably. Will all of the above happen within a matter of days

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, November 29 , 2022: December corn settled on Tuesday at $6.65¾. Price change Tuesday to Tuesday: up $0.09. The past week’s high was $6.71¼, the low was $6.55¾.

The Dow Jones Industrial Average (DJIA) settled at 34,347.03, up 601.34 points for the week. Crude oil settled at $76.55, down $3.56 for the week. The Dollar Index settled at 106.06, down 0.91 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,324, up 135 points for the week. Below is corn, soybeans and wheat basis outlook this week. Corn December futures at $6.68, up ¼ of a cent for the week.

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, November 22 , 2022: December corn settled on Tuesday at $6.56¾. Price change Tuesday to Tuesday: down $0.10.

The Dow Jones Industrial Average (DJIA) settled at 33,745.69, down 2.17 points for the week. Crude oil settled at $80.11, down $8.75 for the week. The Dollar Index settled at 106.67, up 0.55 for the week. The Baltic Dry Index (a shipping freight-cost index) settled at 1,189, down 166 points for the week. Below is corn, soybeans and wheat basis outlook this week. Corn December futures at $6.67¾, down $0.09¾ for the week.