USDA Crop Report 9/12/23 Crop report neutral soybeans to slightly negative to corn expectations with corn acreage being increased to 800k acres, producing a production estimate of 90 mil bushel higher than average guess. Soybean acreage was modestly increased with yield at the estimate creating production near expectations. With yields lowered again for the second…
September WASDE crop report out at 11:00 a.m. today. Today’s grain trade is soft on exceptionally low volume overnight ahead of the September WASDE crop report out at 11:00 a.m. this morning. Again, the average estimate for today’s yield guess on corn is 173.4 BPA while soybeans are at 50 BPA. Interestingly, both yield guesses…
Soybeans lead the overnight recovery from soybean meal strength. This morning’s grain trade is mixed with row crops higher while wheat stumbles. Row crops are firming ahead of Tuesday’s WASDE crop report, while wheat continues to struggle with massive monthly Russian exports, which are now in the 5-6 MMT category. IKAR analysts indicated Russian 12.5%…
Grain prices find stability heading for the weekly close. Today’s grain trade is mostly firm towards the end of the morning session, with export sales data released as expected. This morning’s Stats Canada data had all wheat stocks for July 31 at 3.584 MMT versus estimates of 4 MMT, canola was 1.506, also below estimates…
Grain prices prepare for Tuesday’s USDA crop report. This morning’s grain trade is mixed to lower as the trade prepares for next Tuesday’s USDA crop production report. Managed money trade is short Chicago wheat and corn while they are long soybeans and soy products. This means risk adjustments into the report have been a softening…
Grains prices are higher this morning as ratings decline rapidly. Grain futures are higher this morning, led by soybeans, as crop ratings are in fast decline, likely absorbing some decline that should’ve been reported last week from the USDA. Yesterday, corn conditions fell -3% G/E and soybeans -5% G/E week-over-week. Corn is maturing early, and soybeans…
Grains are mixed as trade gets back underway after a three-day weekend. Grains produced a mixed to firm opening Monday night on renewed Strikes on ports of Odessa and the Danube River ports, along with a lack of success with talks to revive the Black Sea Corridor. Soybeans also opened firm after the hot weekend,…
Grains start a new month with a new price attitude. Grain trade was firmer overnight, as first notice day has passed, and strong stoppers stepped in to acquire the renewed wheat deliveries overnight. Dreyfus stopped 635 contracts of the 1091 contracts delivered, while Merex stopped 317 contracts. SG America’s stopped all 158 Kansas City September…
Wheat futures are lower on large deliveries on the Chicago contract. Grain futures are mixed this morning, with wheat prices showing losses of 8-$0.10 on large September deliveries. September Chicago wheat had 1,113 contracts delivered, while oats experienced deliveries of 269 contracts, and Kansas City wheat had 168. There were no corn, soybeans, or soy…
Soybeans recover back to 14.00 overnight on dire forecast. Grain futures are higher this morning after yesterday’s algorithm trading painted fund close for row crops that followed wheat into the bell. The ongoing hot/dry Central US weather and Egypt announcing a tender on the close today for wheat shipment in October/November is helping recover values….
