MARKET COMMENTARY

Morning Comments; Tuesday, April 13th, 2021

Grains are trading higher on the overnight session. Planting progress after the close yesterday was as expected, with not a lot of progress in the major crops, as it is still quite early. Corn is near average at 3% complete, up 1% over last week. The trade was looking for 6% complete;...

Closing Comments; Monday, April 12th, 2021

Corn, soybeans and wheat all finished today’s session under pressure. Soybeans were the loss leader as profit taking developed following last week’s USDA report. Weakness in soy oil also led to additional selling in soybean futures. Favorable weekend rains across portions of the drought stricken Northern Plains pushed wheat values into the red. Spillover...

Morning Comments; Monday, April 12th, 2021

Grains are trading mixed with corn higher while wheat and soybeans are lower on the overnight session. Dry, but cool forecast for most of the Corn Belt this week, with rains forecast for in the west and the Dakotas that need it. No major surprises for corn in Friday’s supply and...

Closing Comments; Friday, April 9th, 2021

Today’s USDA report left soybean ending stocks unchanged at 120 million bushels. However, some adjustments were made by increasing exports by 30 million bushels, which was offset with crush dropping 10 million and decreases in both seed use and residual use. The surprise in the report was the 2 mmt...

Weekend Review; Friday, April 9th, 2021

Weekly Market Review The U.S. has been struggling with a tight supply concern and a rising demand in the soybean sector. Processed soybeans have become the largest source of animal protein feed in the world, while vegetable oil is the second largest. According to the USDA Economic Research Service (ERS), the U.S....

Morning Comments; Friday, April 9th, 2021

Corn and soybeans are trading mixed ahead of today’s USDA supply and demand estimates.  In today’s release, domestic corn carryout estimates are expected to decrease from the prior month’s 1.502 billion bushels to 1.396 billion bushels. The majority of analysts are expecting the decrease to come from increased export demand, as...

Closing Comments; April 8, 2021

Fund buying returned to the Ag today.  Upward movement today was supported by growing concerns over dry weather in Brazil and the potential impacts on the second corn crop. Continued dryness in Canada and the western half of North Dakota is also impacting the market, as well as rumors of China...

Morning Comments; April 8, 2021

Grains are mixed on the overnight trade. The U.S. has been struggling with a tight supply concern and a rising demand in the soybean sector. Processed soybeans have become the largest source of animal protein feed in the world, while vegetable oil is the second largest. According to the USDA Economic...

Closing Comments; Wednesday, April 7th, 2021

Corn, soybeans and wheat finished mixed for the third day in a row, but in an opposite trend, with corn and wheat higher and soybeans closing lower. Soybeans were under pressure as concerns of China washing out of U.S. sales are increasing. The spread of the African swine fever continues to...

Morning Comments; Wednesday, April 7th, 2021

Grains are higher on the overnight trade. Soybean harvest in Brazil continues to progress at close to 80% complete, compared to 83% last year and 78% on average. Brazil’s soybean prices are around 84 cents cheaper compared to U.S. soybeans, slowing the demand on U.S. soybeans and possibly opening the...

Weekly Review; Friday, April 2nd, 2021

Weekly Review As expected, the big news in this week’s grain trade was the USDA’s release of their Prospective Plantings and Quarterly Stocks reports. On any given year, anticipation going into these reports is high, but given the tight stocks this year anticipation was heightened more than usual. The release of the...

Morning Comments; Thursday April 1, 2021

Grains are higher on the overnight trade. Yesterday’s USDA report surprised traders, causing limit up trade for corn and soybeans, resulting in an extension of limits for the markets. The corn limit is extended to 40 cents, and soybeans can move $1.05 today. The report was roughly 2 million acres lower...

Closing Comments; Wednesday, March 31st, 2021

Markets ended up the limit for both corn and soybeans after the USDA’s acreage & stocks report surprised the trade with lower than expected acreage numbers. Ethanol production for the week ending March 26th increased 43,000 barrels per day to 965,000 barrels a day. The majority of the increase came...

Morning Comments; Wednesday, March 31st, 2021

Grains are higher on the overnight trade. The trade will be watching to see what numbers the USDA will release for prospective acreage planting and grain stocks today. The estimate range for corn is 92 to 94.5 million acres, with the average trade estimate at 93.2 million acres. The USDA’s...

Closing Comments; Tuesday, March 30 2021

A lower, quiet day in the Ag market due to the uncertainty in Wednesday’s USDA report. Corn, Soybeans and Wheat declined in today’s session waiting on some fresh news in the trade tomorrow.  Dr. Cordonnier stated some estimates on increasing both U.S. corn and soybean acres. He is predicting corn acres...

Morning Comments; Tuesday, March 30th, 2021

Grains are trading mixed with corn unchanged while soybeans and wheat are lower on the overnight session. Grains starting to drift as fresh news is lacking going into the USDA reports on Wednesday. Export loadings for corn were strong, but fell for the second week in a row. A weekly pace of...

Closing Comments; Monday, 03.29.21

Corn and soybeans closed lower in today’s session, showing some adjustments ahead of Wednesday’s USDA report. Dollar pressures along with a slowing export season attributed to today’s lower trend. The quarter mile long container ship that has been stuck in the Suez Canal has been dislodged. It was inspected for any stress...

Morning Comments; Monday, March 29th, 2021

Grains are trading mixed with corn and soybeans lower while wheat is higher on the overnight session. Wednesday’s USDA reports could be a major factor in the markets going into the growing season.It could also lead to a dichotomy between old crop and new crop. Old crop stocks are tight from...

Closing Comments; Friday, March 26, 2021

Ag commodities finished today’s session mixed. Corn and wheat were stronger today from spill over strength from the rally in Crude, climbing over 4% on the day. Soybean futures were lower as the sell-off in soybean oil sidelined traders. Yesterday the USDA announced 111,000 metric ton of corn sold to Japan for...

Weekly Review; Friday, March 26th, 2021

Weekly Review African swine fever continues to cause concern in China. China’s Ministry of Agriculture Rural Affairs stated the second outbreak of the disease caused a loss of over 9 million sows in January and February. The sow loss could lead to about a 200 million head production loss, as...

Morning Comments; Friday, March 26th, 2021

The Ag commodities are mostly lower in early trade. The wheat complex has been under considerable pressure in the past several weeks as global wheat production looks to be improving. Chicago wheat dropped to calendar year lows overnight. The Russian consultant agency, SovEcon, increased their production estimate recently from 76.2...

Closing Comments; Thursday, March 25, 2021

A lack of fresh news pushed corn, soybean and wheat futures lower in today’s trade. Soybeans were the loss leader as the trend of favorable weather in Argentina looks to continue. Weakness in crude oil over lockdown concerns in Europe also pressured values.  The U.S. dollar rallied to fresh 4-month highs...

Morning Comments; Thursday, March 25th, 2021

Corn, soybeans and wheat are weaker in early trade. Yesterday’s updated ethanol data showed that an estimated 93.2 million bushels of corn was used for ethanol production last week. Despite improving margins, corn usage was down 4.9 million bushels from the previous week. Corn use for the production of ethanol totals...

Closing Comments: Wednesday, March 24th, 2021

Ethanol production for the week ending March 19thdecreased 49,000 barrels per day to 922,000 barrels a day. Ethanol stocks increased 469,000 barrels to 21.8 million barrels with the Midwest region showing the only reductions. This is the first increase in weekly stocks in over 5 weeks. Rumors in the trade...

Morning Comments; Wednesday, March 24th, 2021

Grains are higher on the overnight trade. African swine fever continues to cause concern in China. China’s Ministry of Agriculture Rural Affairs stated the second outbreak of the disease caused a loss of over 9 million sows in January and February. The sow loss could lead to about a 200...

Closing Comments; Tuesday, March 23rd, 2021

Fund buying returned to the Ag commodities today. The soybean complex led the way higher as nearby soybean oil rallied to the highest levels since 2011, on tight stocks. Corn was supported by growing concerns over dry weather in Brazil and the potential impacts on the safrihna crop. Early gains eased into the...

Morning Comments; Tuesday, March 23rd, 2021

Grains are trading mixed with corn and soybeans higher while wheat is lower on the overnight session. Grains lacked bullish news to propel them forward yesterday. Export inspections were again very large for corn at 77 million bushels, which is a good sign the large amount of corn on the books...

  
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