Weekend Commodity Wrap Up 12/30/2017
AgResource breaks down the week in ag commodities
AgResource breaks down the week in ag commodities
ARC estimates Dec 1 corn stocks at 12,440 Mil Bu, up 54 Mil (0.5%) from last year and the largest on record. Diminished Sep-Nov export shipments has been felt by the interior cash market (basis is still record weak in some locations), and while forward exports sales have improved rather quickly, there’s certainly no shortage…
Argentine Rainfall Reduced Thru December; January Now Critical: The Brazilian outlook remains mostly non-threatening, and the models this evening are bit wetter in E/NE Brazilian growing regions in the 8-15 day period. Row crop action during the opening weeks of 2018, however, will largely be a function of Argentina’s climate pattern, particularly given soil moisture…
March CME settled fractionally lower, KC fractionally higher, and the prevailing themes include an excessive fund short, bitter cold temps in the Plains and rising interior prices in Russia. ARC maintains that downside wheat price risk is limited to 5-15 cents. Crude’s test of $60 implies yet more strength in major exporting currencies lies ahead,…
Corn ended slightly lower for a second consecutive session, but March has so far maintained support above its 20-day moving average. There are hints that a wetter pattern lies ahead in mid-January for Argentina, but net draws in soil moisture will persist there over the next 10 days. Key next week will be whether rainfall in…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?