BASIC & RECENT MARKET INFO

Highlights The Commerce Department reported yesterday morning the personal consumption expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, edged 0.1% higher last month after being unchanged in May, matching market expectations. The data likely sets the stage for the Fed to begin cutting rates in September, as the market widely expects.   In the 12 months ending in June, the PCE price index climbed 2.5%, down from 2.6% in May.   The inflation news

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring) for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close  Tuesday, July 23 , 2024: September corn settled yesterday at $4.02½, +6¾¢ since last Tuesday. December corn set

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 40,288, +286.63 points for the week. Crude oil  settled at $80.25, -1.93. The Dollar Index  settled at 104.36, +0.28. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1,902, -95 for the week. Corn September futures  at $3.90½, -11½¢ for the week. Basis   (U = Sept; e.g. 10U means 10¢ over September futures) (Futures pri

Highlights Bloomberg reported what may go down as the most spectacular IT meltdown the world has ever seen, which occurred yesterday, was caused by a botched software update from cybersecurity firm CrowdStrike. The update crashed countless Microsoft Windows computer systems all over the world, idling airlines, banks, hospitals and even the London Stock Exchange. For several hours, bankers in Hong Kong, doctors in the UK, and emergency personnel in New Hampshire found themselv

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring) for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close  Tuesday, July 16 , 2024: September corn settled yesterday at $3.95¾, +1¾¢ since last Tuesday. December corn set

Tidbits Market advisor, Kevin Duling of Maupin, Oregon is a wheat guy and tracks S&D numbers. He is the best wheat guy we know. If you have a lot of financial risk due to unsold wheat, we encourage you to give Kevin a call.    Here are his post USDA report wheat comments:    For (world) wheat, USDA went back to the old playbook of increasing stocks from last year to pad the books for this year. Any time the balance sheet starts looking too tight, USDA adds in bushels from a p

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 40,001, +625.03 points for the week. Crude oil  settled at $82.18, -0.98. The Dollar Index  settled at 104.08, -0.79. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1,997, +31 for the week. Corn September futures  at $4.02, -8½¢ for the week. Basis   (U = Sept; e.g. 10U means 10¢ over September futures) (Futures price

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring) for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close  Tuesday, July 9 , 2024: September corn settled yesterday at $3.94, -14¢ since last Tuesday. December corn settl

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 39,376, +257.01 points for the week. Crude oil  settled at $83.16, +1.70. The Dollar Index  settled at 104.87, -0.98. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1,966, -84 for the week. Corn September futures  at $4.10½, +3¢ for the week. Basis   (U = Sept; e.g. 10U means 10¢ over September futures) (Futures price

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 39,119, -31.47 points for the week. Crude oil  settled at $81.46, +0.87. The Dollar Index  settled at 105.85, +0.02. The Baltic Dry Index  (a shipping freight-cost index)  settled at 2,050, +53 for the week. Corn September futures  at $4.07½, -33¢ for the week. Basis   (U = Sept; e.g. 10U means 10¢ over September futures) (Futures price

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 39,150, +561.17 points for the week. Crude oil  settled at $80.59, +2.10. The Dollar Index  settled at 105.83, +0.31. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1,997, +49 for the week. Corn July futures  at $4.35, -15¢ for the week. Basis   (N = July; e.g. 10N means 10¢ over July futures) (Futures price + Basis =

Highlights Weather in the crop areas of North America remains in the world's headline for grains and oilseeds followed by South American weather, Asian weather, then Eastern European weather, and lastly Western European weather. Percentage wise, we estimate 25 to 35% of the  crop areas of the world are experiencing production losses due to weather. The world's weather outlook this morning is for more of the same for the coming week.   If corn and bean futures are not higher t

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring) for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close  Tuesday, June 18 , 2024: July corn settled yesterday at $4.50, +½¢. December corn settled yesterday at $4.67¾,

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 38,589, -209.83 points for the week. Crude oil  settled at $78.49, +3.11. The Dollar Index  settled at 105.52, +0.58. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1,948, +67 for the week. Corn July futures  at $4.48¾, +2½¢ for the week. Basis   (N = July; e.g. 10N means 10¢ over July futures) (Futures price + Basis

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

Highlights If you have soft red winter wheat to deliver this summer, you need to set the basis about three weeks before harvest starts in your area. Historically, that is when the basis is as firm as it will get.     Soft red winter July wheat ended Friday at a one month low of $6.27½. All SRW wheat trading volume was a one month high of 280,935 contracts, with July seeing a heavy 131,164 contracts traded. Heavy trading volume on a down day for prices is an indication of stro

It's our weekly US grain market prices analysis and outlook for corn, soybeans and wheat. The Dow Jones  Industrial Average (DJIA) settled at 38,799, +112.67 points for the week. Crude oil  settled at $75.38, -1.80. The Dollar Index  settled at 104.94, +0.32. The Baltic Dry Index  (a shipping freight-cost index)  settled at 1,881, +66 for the week. Corn July futures  at $4.48¾, +2½¢ for the week. Basis   (N = July; e.g. 10N means 10¢ over July futures) (Futures price + Basis

Highlights The US jobs data yesterday morning was much better than expected, which is very bad for commodities because good economic news means higher interest rates for a longer time. That means a stronger dollar, which makes US exports more expensive for foreign buyers. The US added 272,000 jobs in May; the market expected just 182,000. The unemployment rate was up 0.1% to 4.0% from last month. The average hourly earnings were up 0.4% from 0.2% in April.     Yesterday, Braz

Grain market summary of price outlook, seasonal situation, fundamental & technical analysis with our recommendations for corn , soybeans and wheat (Soft Red Winter, Hard Red Winter & Spring) for past week Wednesday to Tuesday. Explanation of our approach: https://www.wrightonthemarket.com/post/how-to-decide-when-to-price-grain Corn Corn  situation after the close  Tuesday, June 4 , 2024: July corn settled yesterday at $4.42½, -20¢. December corn settled yesterday at $4.62,

Highlights Yesterday, OPEC+ extended its “voluntary” production cuts through 2025 with the exception of the UAE. Thus, the UAE will increase production by 300,000 barrels per day from January 2025 and all OPEC+ quota will be 39.725 million barrels per day. The increase will be carried out in stages, from January 2025 and until the end of September 2025.   Multiple countries in Asia will report today their manufacturing purchasing managers index (PMI) for the continent's bigge