I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update! Live Cattle and Feeder Cattle futures hooked higher on Friday. Support seems to have held and prices appear ready to make another push higher. Today is historically the most volatile day for Grain and Soy prices. USDA releases Quarterly Grain Stock …
Chart of the Day – March Corn
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, December 9, 2024 March Corn As we start off this week, March Corn settled up 1 ¾ cents, at 4.41 ¾. Monday’s settlement was the highest since Friday, November 8th. Traders are looking forward to tomorrow’s 11 AM CT release of the …
Corn Commentary
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 …
Corn Commentary
Commentary: The corn traded both sides today. The early trade was fueled by rebounds in commodities. Talk of President Trump talking with Russia and Saudia Arabia regarding the Crude situation. The corn has broken a lot. The market continues to hold above the 332 basis March which may prove important. Looking forward there are many private analysts questioning the USDA acreage. …
Corn Commentary
Commentary: The corn story is consistent. Overall weakness is due to plenty of supply. Increased by the failing ethanol process. This is a key fundamental and will take a bit to turn. The USDA planting intentions yesterday are overstated IMO. This is a long term market consideration. The near term will be plagued by the demand destruction. The positives are …
Accuracy and Reliability
Recent published studies indicate that the USDA is getting more reliable and accurate with September production and supply/demand estimates when compared with the final figures…………..Just another reason that the USDA should be respected and the report on Wednesday approached with respect and caution……………….. When compared with the August figures over the last twenty years the final corn production figures were …
AG TIME – Marking Time Now
The soy markets have corrected a bit here with meal leading the way. The USDA report Wednesday should provide a couple things. 1) confirmation of a larger carry. 2) confirmation of a weakening demand base. The current estimates have cut China’s demand back. It is important in my opinion to understand that the numbers in and of themselves by all …
Tasks at Hand
The USDA will issue new production and supply/demand estimates next Wednesday at 11:00 am Chicago time…………………Trade estimates are being released and it appears that the expectation is for the bean crop to be larger than the previous USDA estimate in August while the corn crop could be very close to the August estimate…………….Carry over projections in both domestic and international …
AG TIME – What is Going on?
The meal rallied today. The thought of Argentina putting an export tax on beans is pushing meal. This to me does not make sense. The US harvest is upon us and the size of the crop will allow Argentina, and any one else for that matter, to buy beans, import and crush for profit. The world is awash with a …
Harvest Approaches………Preliminary 9/5
It appears as if “Anything Goes” as we approach corn and bean harvest, wheat seeding, mid-term elections and new trade deals with Canada, China and others………………….We are a week away from the USDA Production and Supply/Demand estimates for conditions as of September 1 …………………. Some crop tours have suggested that the corn crop is close to the August USDA figure …
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