Midday Market Update
Some Quick Takes on Midday Markets: Looks to be a bit of a Noon Swoon in the grain and oilseed complex. Traditionally I'd say it was tied to midday weather runs, but not necessarily this time around. More of the [...]
No Export Sales Announcements
As of 8:05 (CT) Friday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Export Sales Announcements
USDA announced a sale of 229,200 mt (8.4 mb) of soybeans to unknown destinations. Of this, 10,200 mt (0.4 mb) is for 2021-2022 and 219,000 mt (8.0 mb) for 2022-2023.
RFD-TV Reminder
Your Wednesday reminder I will be on RFD-TV this morning at 8:45 (CT) talking markets. As always, a number of things we can talk about including whether rain is bullish or bearish at this point. Also seeing a surge in [...]
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Guess What Day it Is?
No, it's not Hump Day as the Camel on that commercial would tell us, but rather Tuesday. That means a number of things, including I will be making my weekly appearance on RFD-TV at 8:15 (CT) to talk markets. The [...]
Monday Morning in the Barn
Livestock markets were mixed to start the week with Lean hogs higher The June is up an early $2.00 following its bullish reversal pattern last Friday (see Monday's Chart fo the Day) Feeder cattle lower The corn market is posting [...]
No Export Sales Announcements
As of 8:05 (CT) Monday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Sunday Evening Markets
Outside of more mass shootings here in the US, something that has become commonplace, there wasn't much change in the news over the weekend. Looking ahead to the grain and oilseed complex, it was a rainy weekend across much of [...]
Export Sale Announcement
USDA announced a sale of 132,000 mt (4.9 mb) of 2021-2022 soybeans to China. This one is a bit of a surprise, at least to me. It will be interesting to see if this stays 2021-22 or is switched to [...]
Export Sales Announcements – Revised
A good sign for the day as USDA was late with an announced export sale today: 612,000 mt (24.1 mb) of corn sold to China 68,000 mt (2.7 mb) for 2021-2022 544,000 mt (21.4 mb) for 2022-2023
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
Your Wednesday reminder I will be on RFD-TV this morning at 8:45 (CT) talking markets. Some key topics for today: The continued downtrend of the beef cutout markets Select hit its lowest level, $242.35, since March 31, 2021 As I've [...]
Tuesday Morning in the Barn
The livestock sector is showing green numbers early, led by a quick triple-digit jump in lean hogs. This makes sense given June hogs posted the strongest selloff to start the week, and lost ground to the August issue indicating at [...]
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
Good morning everyone. It's Tuesday, so that means I will be on RFD-TV talking markets again at 8:15 (CT). Though I know what the main topic will be, my goal is to talk about as many REAL fundamental numbers as [...]
Monday Morning in the Barn
Live Cattle The market is starting the week under light pressure Last week saw the cutout markets take a beating Choice finished at $254.44, down $6.34 for the week Select was reported Friday at $245.06, down $2.93 for the week [...]
No Export Sales Announcements
As of 8:05 (CT) Monday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Sunday Evening Market Activity
Prior to the Sunday evening open in the grain and oilseed sector, outside markets were largely following the same path as late last week. The US dollar index was firm to start the week, up about 0.10 and holding just [...]
Algo Update: Corn and Soybeans
A quick update on the DNAI in-house algorithm Theoretical Positions Friday morning: Corn (July) The algo moved to a short-term short futures position The algo also moved to an intermediate-term short futures position, and would be adding Soybeans (July) Similar [...]
No Export Sales Announcements
As of 8:05 (CT) Friday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Wednesday Morning Market Update
After I posted Morning Commentary and while I was on the WIBW Ag Issues radio program, a headline came out talking about India considering restrictions on wheat exports due to the ongoing heat wave cutting into production. The immediate response [...]
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Wednesday’s Media Timeout
A couple more media events for you today: First, I will be the guest on WIBW Radio Ag Issues program at 6:00 (CT). I always enjoy visiting with my friends down in Topeka, Kansas. Second, this being a Wednesday, I [...]
July Corn’s Noon Balloon
It will be interesting to see if the Noon Balloon in July corn has any starting power, or if the contract makes its way back toward its session low of $7.93 and the key technical support level of $7.9225 just [...]
Tuesday Morning in the Barn
As I mentioned in Morning Commentary, it will be interesting to see how livestock markets trade during Tuesday's session. The big mover Monday was feeder cattle with the rally fueled by a round of noncommercial short-covering. Recall last Friday's CFTC [...]
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Tuesday’s Media Timeout
A couple media events going on this morning: It's Tuesday so that means I'll be on RFD-TV talking markets at 8:15 (CT). I know what I'm supposed to talk about, but there are a lot of real issues going on [...]
Monday Morning in the Barn
Let's set the stage for Monday's session in the livestock sector: Live Cattle Boxed beef closed April under pressure Choice was down $7.61 for the month Select dropped $14.37 during April Cash was reported "mainly at $140" Futures spreads were [...]
No Export Sales Announcements
As of 8:05 (CT) Monday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Sunday Evening Markets
Good evening everyone. I didn't see a lot of news this weekend, and markets are reflecting this. The US dollar index is slight weaker Allowing most other currencies to show small green numbers Sunday evening US Treasury futures were showing [...]
No Export Sales Announcements
As of 8:05 (CT) Friday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Thursday Morning in the Barn
Both cattle markets showed an early bounce following Wednesday's selloff. I'm not reading much into early activity given live and feeder cattle spreads remain bearish. Additionally, the cash cattle market was reported weaker Wednesday afternoon and beef cutouts took a [...]
Export Sales Announcements
USDA announced a sale of 1,088,000 mt (42.8 mb) of corn to China with 476,000 mt (18.7 mb) for 2021-2022 and 612,000 mt (24.1 mb) for 2022-2023.
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
This is your weekly reminder I will be on RFD-TV Wednesday morning at 8:45 (CT). A number of potential topics: What grain basis markets are telling us The fallout from falling beef cutout markets Distillates disturbing moves US stock index [...]
Tuesday Morning in the Barn
It will be interesting to see what happens in the livestock sector Tuesday morning. Late Monday saw US stock indexes rally to close in the green Only to come under pressure overnight through early Tuesday morning The grain and oilseed [...]
Export Sales – Correction
USDA announced sales of: 132,000 mt (4.9 mb) of 2022-2023 soybeans to China 133,000 mt (4.9 mb) of soybeans to unknown destinations 78,000 mt (2.9 mb) for 2021-2022 55,000 mt (2.0 mb) for 2022-2023
RFD-TV Reminder
Your Tuesday reminder I will be appearing on RFD-TV at 8:15 (CT). There are a lot of real market factors to talk about including: Weather Dec 2023 corn activity to start the week The sharp sell-off in the Barn The [...]
Monday Morning in the Barn
Initial activity in the Barn was a bit red, with a number of factors coming into play. Live Cattle US stock indexes are under pressure to start the week Last Friday showed lower boxed beef markets And yes, some will [...]
Export Sales Announcements
USDA announced sales of 330,000 mt (12.1 mb) of soybeans to China. Of this: 66,000 mt (2.4 mb) were for 2021-2022 (interesting, given the discussion above) 264,000 mt (9.7 mb) were for 2022-2023. Additionally, USDA reported with strange wording “204,000 [...]
Sunday Evening Markets
Let's take a look at the headlines over the weekend. First, it look like Emmanuel Macron will win reelection as President of France. This could ease some of the potential pressure on European stock markets that was threatened if the [...]
Morning Market Update
As I mentioned in Morning Commentary, it was possible the early hours rally in the grain and oilseed complex would have difficulty finding new buyers once Friday's opening bell rang. This certainly seems to be the case through the first [...]
Friday in the Barn
It's going to be a busy day in the Barn Friday, culminating in the April Cold Storage and Cattle on Feed reports released at 2:00 pm (CT). Heading into Friday's session: Live Cattle Cash improved this week to $140 to [...]
Export Sales Announcements
USDA announced a number of export sales Friday morning: 1,347,000 mt (53.0 mb) of corn to China 735,000 mt (28.9 mb) for 2021-2022 612,000 mt (24.1 mb) for 2022-2023 281,000 mt (11.1 mb) of corn to Mexico 90,200 mt (3.6 [...]
Quick Update: Morning Commentary
I had posted both the written and audio editions of Friday's Morning Commentary when a good friend sent me a breaking news update. Reportedly, Indonesia is set to ban exports of palm oil starting April 28. As would be expected, [...]
March Leading Economic Indicators
The US leading economic indicator index reportedly increased 0.3% in March indicating the "economy is likely to stay in expansion mode through the summer...", according to a story from MarketWatch. Those of you who track beef cutout markets won't be [...]
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
I will be on RFD-TV talking markets at 8:45 (CT) Wednesday morning, as always sponsored by my friends at Barchart. A lot to talk about again today from US Treasury yields to crude oil, weather across the US to activity [...]
Feeder Cattle Correction
This is what I like about the community we've built here. A good friend in the cattle industry called me as soon as he read Tuesday's Afternoon Commentary. Recall I wrote, "The outlier was feeder cattle where April and May [...]
Export Sale Announcement – Revised
A late export sale announcement came in: USDA announced a sale of 123,650 mt (4.5 mb) of 2021-2022 soybeans to unknown destinations. Fits with the strength of May versus July Monday.
RFD-TV Reminder
Your weekly reminder I will be on RFD-TV this morning at 8:15 (CT). Much to talk about again today, though I have a feeling I know what the main topic will be. I'll try to make time to talk about [...]
Monday Morning in the Barn
It was a mixed open in the Barn Monday: Live cattle were showing a small gain led by a light round of commercial buying in deferred issues. It was reported cash markets firmed last week, with the South bumping up [...]
No Export Sales Announcements
As of 8:05 (CT) Monday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Sunday Evening Markets
Another week is under way and market are relatively quiet. The US dollar index is slightly weaker while the euro shows a small gain. US Treasury futures are quietly in the red. As are US stock index futures Metals were [...]
Export Sales Announcements
USDA announced sales of soybeans Friday morning: China 2021-2022 121,000 mt (4.4 mb) 2022-2023 268,000 mt (9.8 mb) 272,000 mt (10.0 mb) Unknown Destinations 2021-2022 177,000 mt (6.5 mb) Recall late last week saw the inverse in the May-July soybean [...]
Export Sale Announcement
USDA announced a sale of 132,000 mt (4.9 mb) of 2021-2022 soybeans to China.
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
A reminder I'll be on RFD-TV Wednesday morning at 8:45 (CT) talking markets. A number of things to talk about again this morning: It's Wednesday Noncommercial activity End of the Goldman Roll Tuesday's storms Leading to cold temperatures to close [...]
March Consumer Price Index and OPEC
The March Consumer Price Index (CPI) came in at 1.2%, up from the previous 0.8% and just higher than an expected 1.1%. Core CPI for the month increased 0.3%, a bit below the expected 0.5%. However, due to the magic [...]
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
This is your Tuesday reminder I will be on RFD-TV at 8:15 (CT) talking markets, as always sponsored by my friends at Barchart. Yes, being Tuesday, I know what the main topic will be, but I'm hoping to change the [...]
Monday Morning in the Barn
The livestock sector was relatively quiet early Monday with low volume the key feature in all three major markets. Live Cattle Cash held steady at $138 last week, in line with April futures June and August are showing small gains [...]
Export Sales Announcement
USDA announced a sale of 1,020,000 mt (40.2 mb) of corn to China. Of this, 680,000 mt (26.8 mb) for 2021-2022 340,000 mt (13.4 mb) for 2022-2023. This fits with last week’s strengthening inverse in the July-September (old-crop) and Dec-March [...]
Sunday Evening Markets
Good evening everyone. we are off and running on another week, though this one is shortened by a holiday this coming Friday. Sunday evening is showing us: Financials: There is already chatter about Tuesday's Consumer Price Index for March , [...]
No Export Sales Announcements
As of 8:05 (CT) Friday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Export Sale Announcement
USDA announced a sale of 132,000 mt (4.9 mb) of soybeans to China. This fits with the commercial buying seen in the May-July soybean spread through Tuesday’s close.
Wednesday’s Media Appearances
Good morning everyone. A couple media appearances for you today: I will be the guest on WIBW Radio's Ag Issue program at 6am (CT). Always good to visit with my friends down in Kansas and I'm looking forward to our [...]
Out of Office
I will be out of the office from roughly 9am (CT) to 12pm (CT). I'll still have access to email and text. If you need assistance please call Ben at (402) 618-1180 Thanks, and I'll talk to you soon.
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
It's another Tuesday Morning meaning I'll be on RFD-TV again at 8:15 (CT) talking markets. As always sponsored by my friends at Barchart. A lot to talk about this morning, though don't be surprised if the discussion is dominated by [...]
Monday Morning in the Barn
The first half hour saw decent activity in the major livestock markets with live cattle, feeder cattle, and lean hogs all trading lower early. However, the 9:00 hour found live cattle back in the green on moderate trade volume of [...]
Export Sales Announcements
USDA announced a sale of 1,084,000 mt (42.7 mb) of corn to China. Of this, 676,000 mt (26.6 mb) were for 2021-2022 with 408,000 mt (16.1 mb) for 2022-2023. It will be interesting to see how spreads trade Monday morning’s [...]
Sunday Evening Markets
Good evening everyone. Weekend news brought us some horrific images from liberated towns and cities in Ukraine. We'll see what additional sanctions, if any, get placed on Russia. Additionally, a couple of Putin's lackeys have claimed victory in their respective [...]
March Jobs Numbers
Another day, another set of government numbers to argue over. Friday saw the release of the nonfarm payroll number for March, coming in at 431,000 as compared to a pre-report estimate of 490,000. While economists will argue about all the [...]
Export Sale Announcement
USDA announced a sale of 136,000 mt (5.4 mb) of 2021-2022 corn to unknown destinations.
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
More Fireworks
It was another morning of fireworks in the commodity complex, again having to do with news out of Ukraine. The latest headlines are of Russian troops again shelling cities, confirming concerns expressed by the US administration and governing body of [...]
Export Sale Announcement
USDA announced a sale of 128,000 mt (4.7 mb) of 2022-2023 soybeans to Mexico. I thought my idea of old-crop soybean cancellations or rolling had blown up again, then I saw this sale was for new-crop 2022-2023.
RFD-TV Reminder
This is your Wednesday reminder I will be making my weekly appearance on RFD-TV to talk about markets at 8:45 (CT). So far this morning we haven't seen the fireworks that occurred Tuesday around this time. Possible topics include: Real [...]
Why to the What
Tuesday's early morning hours were filled with activity as the commodity complex in general collapsed. Crude oil fell $7.50, palladium plunged $217, and corn and Chicago (SRW) wheat decided to check out daily limits down before intermission. What changed? Recall [...]
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
Your Tuesday reminder I will be on RFD-TV at 8:15 (CT) talking markets. There is a lot to talk about again this week, including: The continued issues with basis markets. Out of balance noncommercial futures positions. Monday's ugly close in [...]
Monday Morning in the Barn
It was a mixed bag of old news for the cattle market heading into this week. Last Friday's Cattle on Feed report showed us what we already knew: The US had a lot of cattle on feed as of March [...]
Export Sales Announcements
USDA announced sales of: Soybeans 2021-2022 132,000 mt (4.9 mb)China Corn 2021-2022 77,120 mt (3.0 mb) to unknown destinations and 50,800 mt (2.0 mb) for 2022-2023, also for unknown destinations
Sunday Evening Markets
The big news over the weekend is US President Biden ad libbing the line Russia's leader Putin "cannot remain in power" while in Poland Saturday. While there has been all kinds of hullabaloo raised over the comments and walk-backs by [...]
Export Sale Announcement
USDA announced a sale of 132,000 mt (4.9 mb) of 2021-2022 soybeans to China. This could still be tied to the commercial buying seen in the May-July soybean spread from Wednesday.
Export Sale Announcement
USDA announced a sale of 318,200 mt (11.7 mb) of 2021-2022 soybeans to unknown destinations. This fits with the commercial buying seen in the May-July soybean spread Wednesday.
RFD-TV Reminder
Your weekly reminder I will be appearing on RFD-TV at 8:45 (CT) this morning, as always sponsored by my friends at Barchart. A lot to talk about again, and if I get into the discussion on national average basis it [...]
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Export Sales Announcements
USDA announced a sale of 240,000 mt (8.8 mb) of 2021-2022 soybeans to unknown destinations. I’m a bit surprised by this. The May-July soybean spread has been under pressure of late. My latest calculation of US available stocks-to-use was record [...]
RFD-TV Reminder
Recall for Morning Commentary when I said I do not play an economist on tv. Well, this is your weekly reminder you can watch me not play an economist on tv during my Tuesday appearance on RFD-TV at 8:15 (CT). [...]
Monday Morning in the Barn
The livestock sector was mostly higher early Monday with live cattle and lean hogs both showing gains while feeder cattle were under light pressure. Live Cattle Last week finished with cash reported steady to firm. Meanwhile, beef cutout markets firmed [...]
No Export Sales Announcements
As of 8:05 (CT) Monday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Sunday Evening Markets
Financial markets are relatively quiet to start the week, almost as if traders are waiting to see what develops with talks between Ukraine and Russia this coming week, if such talks occur at all. As I was typing this out, [...]
No Export Sales Announcements
As of 8:05 (CT) Friday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Export Sale Announcement
USDA announced a sale of 136,000 mt (5.4 mb) of 2021-2022 corn to unknown destinations.
No Export Sales Announcements
As of 8:05 (CT) Wednesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
RFD-TV Reminder
It's Wednesday, so that means I'll be making my weekly appearance on RFD-TV at 8:45 (CT), talking markets. A lot to talk about again today including: The expected interest rate hike by the US Federal Reserve later in the day [...]
No Export Sales Announcements
As of 8:05 (CT) Tuesday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Media Reminder
This is your Tuesday reminder I will be talking markets on RFD-TV at 8:15 (CT), as always sponsored by my friends at Barchart. Also, I'll be on the radio with Agriculture of America talk show at 9:15 (CT) this morning, [...]
Monday Morning in the Barn
It was a relatively quiet start to the week out in the Barn with cattle markets and Class III milk higher and lean hogs under pressure shortly after the open. Live cattle Small early gains are being registered on light [...]
Export Sale Announcement
USDA announced a sale of 159,000 mt (6.3 mb) of 2021-2022 corn to Mexico.
Sunday Evening Markets
There is some chatter regarding Sunday evening markets are indicating headway has been made toward a resolution of the war in Ukraine. I have not seen any headlines to that effect. Also, I was forwarded a message about Argentina possibly [...]
Export Sales Announcements
USDA announced sales of 128,900 mt (5.1 mb) of 2021-2022 corn to unknown destinations and 264,000 mt (9.7 mb) of 2022-2022 soybeans to China.
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
February Consumer Price Index
Beef cutout markets dropped dramatically during February: Choice was down $32.89 for the month Select dropped $29.86 for the month Based on this, I was looking for the February Consumer Price Index (CPI) to show more than the expected 0.7% [...]
USDA March Supply and Demand
I few tidbits: In its WASDE numbers, USDA Decreased its projected corn exports from Ukraine by 5.5 mmt, or roughly 18% This is a sizable reduction Decreased its projected wheat exports from Ukraine by 4 mmt (17%) and Russia by [...]
Technical Quickie: May-July Soybean Spread
As I mentioned in Tuesday's Chart of the Day, Wednesday would be an important day for the May-July soybean futures spread. After showing strength overnight, albeit on lighter trade volume, the spread is backing away from its high daily close [...]
Export Sales Announcements
USDA announced sales of 100,000 mt (3.9 mb) of 2021-2022 corn to Colombia and 20,000 mt of 2021-2022 soybean oil to unknown destinations.
Media Timeout
It's Wednesday, meaning I'll be back on RFD-TV at 8:45 (CT) this morning, as always sponsored by my friends at Barchart. A lot of real fundamentals to talk about today, leaving the make-believe version for everyone else in the industry [...]
Export Sales Announcements
USDA announced sales of: 126,000 mt (4.6 mb) of 2021-2022 soybeans to unknown destinations 132,000 mt (4.9 mb) of 2022-2023 soybeans to China 193,000 mt (7.1 mb) of 2022-2023 hard red spring wheat to the Philippines
RFD-TV Reminder
Your weekly reminder I will be making my Tuesday appearance on RFD-TV at 8:15 (CT), as always sponsored by my friends at Barchart. A lot to talk about again this week: The collapse in winter wheat basis. Brings back memories [...]
Corn Concerns
As I discussed in Weekly Analysis of Corn over the weekend, I have concerns about the market. Noncommercial traders Last Friday's CFTC Commitments of Traders report showed this group increasing their net-long futures position, but... they did it by decreasing [...]
Monday Morning in the Barn
Looking back at last week: Beef cutout markets were down $3.94 (choice) and $7.00 (select) Meanwhile, cash cattle in the south traded between $140 and $141, reportedly $1 to $2 lower. April live cattle futures closed at $135.775 Looking too [...]
Export Sales Announcements
USDA announced soybean sales of 132,000 mt (4.9 mb) to China, with 66,000 mt (2.4 mb) for 2021-2022 and 66,000 mt (2.4 mb) for 2022-2023.
Sunday Evening Markets (Pt. 2)
An hour down the road and we see some markets have relaxed a bit while others are gaining momentum. Crude oil is at $125, up 8.1%, but down from its initial high of $130.50 (up 12.8%). Gold is up $27 [...]
Sunday Evening Markets
The energy complex has skyrocketed early Sunday evening on weekend headlines the US and its Western allies are thinking of sanctioning Russia's oil and gas industry. It is a necessary move to put more pressure on Russia's Putin, but it [...]
Update: Wheat Daily Price Limits
A good friend in the brokerage business just sent me this notice from the CME. Daily price limits for both Chicago (SRW) and Kansas City (HRW) have been revised upward starting March 7, 2022. This means at the open of [...]
Friday Morning in the Barn
The livestock sector opened Friday in the red, not overly surprising given pressure from outside markets. Corn is up 20 cents, though well off its overnight high, and US stock indexes are down about 1% shortly after the open. As [...]
Export Sales Announcements
USDA announced 2021-2022 soybean sales of: 106,000 mt (3.9 mb) to China 108,600 mt (4.0 mb) to Mexico and 125,000 mt (4.6 mb) to unknown destinations
February Jobs Numbers
The February nonfarm payroll report showed the US added 678,000 jobs over the course of the month, well above a pre-report estimate of 440,000 and adjusted January number of 481,000. Meanwhile, the US unemployment rate dropped to 3.8% from last [...]
Export Sales Announcements
Keep in mind what we've seen recently in old-crop May-July corn and soybean futures spreads. The markets have been telling us commercial interests are buying. Export Sales: USDA announced a sale of 132,000 mt (4.9 mb) of soybeans to China [...]
Radio Ga Ga
I will be on the WIBW Radio (Topeka, KS) Ag Issues program at 6 am (CT). I hope you can join us.
Export Sales Announcements
Do you recall the recent commercial buying in old-crop soybeans (see attached May-July spread chart)? Export Sales: USDA announced sales of: 2021-2022 Unknown Destinations: 198,000 mt (7.3 mb) China: 198,000 mt (7.3 mb) 2022-2023 Unknown Destinations: 66,000 mt (2.4 mb) [...]
RFD-TV Reminder
I will be appearing on RFD-TV Wednesday morning at 8:45 (CT), as always sponsored by my friends at Barchart. There is so much to talk about again today, with headlines changing by the minute . Middle East, particularly Egypt, looking [...]
Export Sales Announcements – Correction
USDA announced a sale of 264,000 mt (9.7 mb) of 2022-2023 soybeans to China.
RFD-TV Reminder
I will be appearing on RFD-TV Tuesday morning at 8:15 (CT), as always sponsored by my friends at Barchart. Possible topics: The worsening situation in Ukraine The ripple effects on global energy and wheat markets The DNAI Monthly Available Stocks-to-Use [...]
2022 US Crop Insurance Spring Pricing – Final
The final results are in for the US Government Crop Insurance Spring Base Price: December corn showed a daily average close of $5.90 The second highest February average, trailing only 2011's $6.01 November soybeans showed a daily average close of [...]
Monday Morning in the Barn
In all honesty, the open in the livestock sector wasn't was I was looking for Monday. Live cattle was in the green, despite all the bearish fundamental and outside influences it faced. Why? The only thing I can thing of [...]
Export Sales Announcements
USDA announced a sale of 136,000 mt (5.0 mb) of 2022-2023 soybeans to China and 120,000 mt (4.4 mb) of 2021-2022 soybeans to unknown destinations. A bullish sign, sales instead of cancellations.
Sunday Evening Markets
It has been an electrifying first hour of trade in the grain and oilseed sector: May Chicago (SRW) wheat hit its expanded daily limit 75 cents up shortly after the open before backing off to a gain of 54 cents [...]
What a Weekend
No sooner had the markets closed Friday than Saturday found increased global sanctions, including from the US, being placed on Russia, including the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on two of the country's central banks. The bottom line [...]
Export Sales Announcements
USDA announced a sale of 285,000 mt (10.5 mb) of soybeans to unknown destinations with 159,000 mt (5.9 mb) for 2021-2022 and 126,000 mb (4.6 mb) for 2022-2023. Additionally, 334,000 mt (12.3 mb) of 2022-2023 soybeans to China.
And Now, a Word From China
CNBC's Beijing Bureau Chief Eunice Yoon just did a solid update, informing the world that China continues to support Russia, refusing to call the overnight move an invasion. Instead, Beijing is sticking to the Kremlin's script and calling it a [...]
Thursday Morning in the Barn
I was concerned about the livestock markets for a number of reasons heading into Thursday's session: US stock index futures took a beating overnight, and there is a loose tie between US equities and beef markets Speaking of beef, both [...]
No Export Sales Announcements
As of 8:05 (CT) Thursday morning there were no new export sales or cancellations announcements on the USDA/FAS website.
Ukraine Update
Ukraine is being invaded by Russian forces on its north, east and south borders. Key infrastructure including military bases and airports were targeted first with missile strikes throughout Ukraine. Russian paratroopers have begun to land near key cities. Cyber-attacks continue [...]
Putin Orders “Special Military Operation” In Eastern Ukraine
Vladimir Putin has declared a "special military operation" against Donbass Ukraine. This is taking place at the border of the Ukraine, however there are reports of explosions being heard throughout Ukraine including Kyiv and Kharkiv. This all developed while the [...]
Export Sale Announcement
USDA with another late announcement, this one of 132,000 mt (4.9 mb) of 2022-2023 soybeans to China.
RFD-TV Reminder
This is your weekly reminder I will be on RFD-TV Wednesday morning at 8:45 (CT), as always sponsored by my friends at Barchart. So much to talk about again today, and not all of it grain related: Commercial selling in [...]
Export Sales Announcements
USDA announced sales of 132,000 mt (4.9 mb) of 2022-2023 soybeans to China. Also, 120,000 mt (4.4 mb) of HRW wheat to Nigeria, evenly split between 2021-2022 and 2022-2023.
Tuesday Morning Update
A good friend sent me a question, "Is it too late to sanction Russia? Doesn't it take time for these to take effect?" Recall from my recent Weekly Columns that, in my opinion, US President Biden has played his cards [...]
Monday Evening Markets
Markets are reaction Monday evening to news Russian troops are pushing into separatist territories of eastern Ukraine. WTI crude oil is up $2.75 (3.0%), while Brent has rallied $2.84 (also 3.0%) Natural gas is up another 36.0 cents (8.1%) Gold [...]
Sunday Evening Activity
The grain and oilseed sector is closed until 19:00 (CT) Monday evening, but there are some markets open Sunday. The US dollar index is sitting at unchanged from Friday's close while the euro is showing a small loss. The Canadian [...]
US Crop Insurance Spring Pricing
We are now through three weeks of February, and given next Monday is a holiday only 5 days remaining in the calculation of US government insurance spring base prices for corn and soybeans. December corn has posted an average daily [...]