Weekly Newsletter, Aug 22
In this week’s newsletter, we again take a look at US corn supply and demand (and price) using various yield scenarios. Crop condition yield models are also updated.
Soybeans Inch Higher Through Tuesday Trading
Soybeans were on both sides of unchanged on Tuesday, and were up 1-1.25 cents at the close while December soyoil marked the 5th consecutive higher close and was back above the 200-day moving average for the 2nd day. Commodity fund traders were estimated buyers of 1,500 soybean and 2,500 soyoil contracts, and sold 500 contracts…
Corn Struggles Amid Further Collapse in Wheat
Fresh corn-specific news includes Pro Farmer finding yield potential close to expectations (in some places much below last year) and a pause in South America’s basis rally. Fob basis in Argentina is not going down, but new strength this week has been absent, and as Gulf basis rallies slightly US export demand will remain rather…
Yield Changes In September
Since 1990, there has not been a strong tendency for NASS to either raise or lower the national soybean yield estimate in the September crop report. There have been 12 years that the yield has decreased by an average of 0.9 BPA, 14 years that the yield increased by an average of 0.8 BPA, and…
Wheat Continues Search for Demand; Black Sea Cash Market Slightly Weaker
KC wheat futures fell below $4.00 for the first time since April, and US Gulf HRW continues to compete with Russian origin, basis fob. A host of private analysts have put Russia’s crop at/slightly above 80 MMTs, cash markets have fallen steadily since the USDA’s August report, but mid/late August is not the time to…
