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Tidbits, Reversals Market Comment, Deliveries, Broilers & Ethanol 2/29/24

Highlights


The number of CBOT contracts that will be assigned today for delivery tomorrow were announced last evening. If you want price to go higher, you want to see very few to no deliveries, but nothing is 100% in this business.

  • Spring Wheat 591 contracts to 20 Feb 2024

  • KC Wheat 56 to 13 Feb 2024

  • Chi Wheat 484 to 22 Feb 2024

  • Soybeans 702 to 26 Feb 2024, pretty “strong hands”      

  • Soy Meal1 to 18 Aug 2023

  • Soy Oil 271 to 1 Feb 2024, 234 contracts went to “strong hands”     

  • Corn 0 to 5 July 2023

  • Rough Rice 593 to 28 Feb 2024

 

To learn how the delivery process works and what it tells us about the market outlook, go to:

 

Tidbits


ABIOVE, the Brazilian Association of Vegetable Oil Industries, reduced their estimate of Brazil’s soybean production 2.3 mil. mts to 153.8 mil mts.

 

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