Markets - General
Dryness over the next six months in Argentina is expected to reduce the size of the country’s two main cash crops, corn and soy, while complicating navigation of grain cargo ships on the Parana River, analysts said.
Ahead of USDA’s August supply and demand reports, analysts expect little change to yield, but what about demand? Jarod Creed and Mike North provide their expectations leading into Thursday’s reports.
USDA is preparing to release its next Crop Production and WASDE reports on Thursday, August 12. Ahead of the release, debate is heating up on whether the U.S. can achieve a trendline yield in corn this year.
During August, markets watchers will debate the possibilities of national yields. USDA’s gauge of crop conditions are posted every week, Pro Farmer says the condition ratings aren’t the best indication of yield.
Even with the heat in the forecast, rains have helped remove the panic from the corn and soybean markets the past month. And as July enters its final weeks, the corn “weather market” may be behind the U.S.
July rains calmed some concern about the corn crop this year, but between crop conditions, weather issues and other factors stirring in the markets, analysts say soybeans may still have a bullish story this summer.
Less than two weeks after USDA issued an updated June Acreage Report, which revealed fewer planted acres than expected, USDA says it still expects larger corn supplies and an uptick in ending stocks.
Traders liked what they saw in the latest World Agricultural Supply and Demand Estimates (WASDE) report released Monday from USDA. Joe Vaclavik and Ben Brown break down the key takeaways from Monday’s report.
Wet weather forecasts across the Midwest caused commodity prices to tank Tuesday, with soybean oil and corn hitting the daily limits lower. Much of the Midwest is forecast to receive rain at key pollination time.
Given stubborn demand, the answer hangs on 2021 crops.
Digging the depth of the lower Mississippi from 45’ to 50’ could generate an extra $461 million annually for the U.S. soybean industry.
USDA’s June 30 Acreage report is known to offer a few surprises, and the 2021 edition delivered.
Corn prices came under pressure Tuesday. With July corn falling 37 cents to end the day to close at $6.20, the closing price on Monday marked a one-month low.
China’s appetite for new crop corn is now sitting in uncharted waters. China has committed to purchasing 321.2 million bushels, or 8.15 million metric tons, since May 10, and analysts say there are two main drivers.
USDA’s report this week showed 76% of the U.S. corn crop is rated good to excellent, 2 points better than last year. The ratings are causing confusion for farmers seeing struggling crop stands due to weather extremes.
Corn Prices Boosted by USDA Report Reflecting Robust Exports, Ethanol’s Rapid Recovery from COVID-19
USDA’s June World Agricultural Supply and Demand Estimates (WASDE) caused corn prices to hang on to the day’s gains, but spurred soybean prices to tumble Thursday.
The change in the weather forecast sent commodity prices plummeting Monday. Corn and soybean prices saw pressure after the weather models produced an outlook for wetter and cooler weather by the end of the week.
Soybean prices saw the largest single-day drop in history on Thursday. Prices crashed vigorously, with July and August soybeans down more than $1 on Thursday. This tops any one-day record for a deferred contract.
ICE cotton futures rose to their highest in nearly a week on Tuesday, propelled by fears of damage to the natural fiber crop in the delta region due to heavy rains.
Analysts on the Pro Farmer Crop Tour say 2020 is different than the rest.
The unexplained suspension of operations of a key Chinese agricultural data provider has left traders, analysts and brokers scrambling for other sources of information on one of the world’s most important farm markets.
USDA’s first look at new crop in the May WASDE indicated higher crop prices could start to erode demand. However, USDA points out greater domestic use could help offset the idea of lower exports.
As soybean supply concerns continue to impact the market, USDA’s fresh look at 2020/2021 ending stocks in the May WASDE report paints a scenario where soybean supplies will remain extremely tight.
Chicago Board of Trade soybean futures jumped 1.8% on Tuesday, surging above $16 a bushel for the first time since September 2012 as traders focused on prospects for tight supplies until late 2022.
The last seven days were busy with corn planting across the U.S.
Chicago Board of Trade corn futures extended a rally on Thursday above eight-year highs as dry weather threatened harvest yields in major exporter Brazil and kept the focus on ebbing global supplies.
A tradition for more than 100 years will now be a thing of the past. The CME Group announced this week it’s not reopening the open outcry pits on the trading floor, which means the tradition will be gone for good.
Futures exchange operator CME Group Inc said on Tuesday it will not reopen the physical trading pits which it closed last March due to the COVID-19 pandemic.
How high will prices go? How long will the high prices last? What is behind this rally? Here are some of the factors at play.
Commodity prices continued to race higher on Thursday, with corn trading the limit higher. Soybeans and wheat also saw prices surge higher with double-digit moves.