BASIC & RECENT MARKET INFO

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 +

Highlights The hospitals in China will have more than 5.8 million beds occupied during the current epidemic. Deaths in the big cities are running 4 to 8 times the normal rate. The largest port city, Shanghai, is in the worst shape. None-the-less, the top brass of China’s government said yesterday morning total quarantines or lock-downs will not be re-introduced until after a review in February, if even then. It is clear that lock-downs to control contagious diseases are like

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.

Highlights Dr. Cordonnier, the guru of South American crop production, lowered his Argentine soybean production estimate to 45.0 million mt (USDA 49.5). He left Argentine corn and Brazilian corn and bean production unchanged. India is considering selling 2 to 3 million mts of wheat from state reserves to cool soaring domestic prices. India, the world’s second-largest wheat producer behind China, banned exports in May, but domestic prices remain high and the natives are gettin

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.

Tidbits

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 +

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.

Highlights Wayne Bacon of Hammersmith Marketing LTD said the fine print of the EPA’s biofuel mandates for 2023 and 2024 issued Wednesday added rapeseed as an acceptable vegetable oil for biofuels and that was the reason bean oil lost 10% of its value. When the mandate targets were announced, we reported they were about as expected, but the bean oil price was falling out of bed. The only logical reason was too many spec longs were disappointed. Well, yes, they were disappoint

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 President Biden signed legislation to require US rail workers to continue to work. There will be no legal strike in the coming months, but there are union members calling for a strike anyway. If any of the twelve unions strike, will the other union member cross the picket line to work? Probably not. Hopefully, the fear of a strike is what hurt corn and wheat this past week and, hopefully, that fear is behind us now that a strike would be illegal. The EU reached an

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.

Highlights MATIF stands for Marche A Terme International de France (Paris Futures Exchange) otherwise known as milling quality French wheat futures trading in Paris. Yesterday we showed you the five minute candlestick chart showing MATIF wheat gained about $10 a mt (37 cents a bushel) the last five minutes of Monday’s trading day. Here is the fifteen minute chart after Tuesday’s trading: MATIF wheat gained 3.5% the past two days. On $8 wheat, that is 28 cents a bushel. Yeste

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.

Tidbits Argentine hard (bread) wheat FOB price is $380 a mt; Russian wheat $315; Ukraine $290; French/European wheat $344, and US and Canadian at $415. As always, all the world’s cheap wheat has to be sold before North American wheat exports are tapped. Japan is the only substantial year-round wheat buyer of North American wheat because they will pay for quality. Note that 2023 will be the fourth consecutive year global wheat consumption will exceed global wheat production. W