Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The Nass report today opened the door for some reasonable expectations and adds a good feeling to the markets. First the soy complex witnessed reasonable fund buying through the day. The report today added approx half a million acres. The trade was looking for a larger gain. The bean rally could extend a bit further and then sales could …

Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy was under pressure today . The weather remains very beneficial over all. The exports while up from recent history lack the fire power to get anyone excited. The Chinese spent a lot of their recent needs on Brazil.  This puts Brazil in a sold out situation. It also makes one think last years crops were larger than reported. …

Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: A few brief thoughts regarding the markets. There remains some unknowns certainly given the global climate. However, the Chinese are buying beans. Some of this is to restock, some is the push to expand hog production to fuel the crush. Regardless, the bean market has a couple near term pluses in addition to the purchases. The USDA 395 carry …

Food for Thought

John Walsh General Commentary, Grains Leave a Comment

Commentary: Looking at the current supply demand scenario and the USDA releasing numbers tomorrow. I have pondered what I am perceiving are some possibilities. First the soy exports may be a bit overstated. Second the acreage may well be understated by as much as 2 million acres. These are important numbers given the current global stocks. When I look at …

Soy Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy has rallied approximately forty cents over the last month. This rally was sparked by Chinese purchases. The Chinese have increased the import agenda in soy in order to replenish stocks that were lower than normal. The Brazilian has been the dominant player to China over  the last six months. It is presumed that the crop harvested last year …

Corn Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The corn was a bit of an inversion to beans today. The old crop stocks were 2098 bil bu. Smaller than anticipated. While the new crop was estimated at 3318 bil bu. The old crop offered support  today with the market trading up 5 cents. The funds are (approx) short 200 t bu. This coupled with the fact the Chinese …

Soy Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The USDA released soy estimates today. The old crop stocks were at 580 million bu. Not overly friendly. At present however the US has moved into the prime supplier to the world given the lack of ARG exports, and the Brazilian having exported a lot of late. The currency is also a consideration. These facts can negate the bearish old …

Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: These comments are offered pre report. Tomorrow the USDA will release the supply and demand estimates. There are a few considerations. The Chinese are purchasing beans at present. The US has moved into a position where beans are now a bit cheaper than the competition. This could hold true for a bit depending on currency valuations. The estimates for …

Corn Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The corn could have a short term low in place. The Chinese are looking, strong sorghum sales are both helping. The worst case may be over for Ethanol. However, the rebound could be slow. The corn will also watch planting which is fine to date. It does seem probable that China will want to honor phase one commitments. The …

Soy Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy rebounded today. The Chinese purchased 300 t mt of US beans. The thoughts are we should see more purchases to fill the late summer time slot. This is needed and gave the market a shot in the arm. There are many questions that remain given the overwhelming scenario we have witnessed. The planting progress is on par …