The January International Trade Report with data for November, that was released on Friday showed a total US soybean export rate of 332 million bushels. The figure was inline with what had been reported in early December by the USDA’s FGIS, but was also 45 Mil BU less than a year ago. Monthly data for…
Argentina Wetter 6-10 Day Period; Northeast Brazil Drier: The major forecasting models are in broad agreement in South America, and needed rain will fall across much of Argentina’s crop belt this weekend. Totals are estimated in a range of .25-1.00”, with a locally greater amounts possible. But notice in the graphic that cumulative rainfall since…
US wheat futures fell 1-5 cents, led by KC, amid a strength in the US dollar and thus weakness in other exporter currencies, and as Russian exports continue to surprise. A relatively cooler pattern lies in the offing for the Black Sea, but it’s unlikely that ports will be significantly affected. ARC’s contacts speculate that…
March corn fell 4 cents, thus erasing almost the entirely rally that began in mid-December. Positioning ahead of Friday’s Dec 1 Stocks & WASDE report is noted, and trade ideas include a modest upward revision to US final production. ARC maintains that downside risk is limited to $3.35-3.40 basis March, but there remains no catalyst to…
Fund selling took soy futures sharply lower at the morning open on Monday, though the break in meal again found good demand that supported a recovery into late in the day and pulled soybean prices up off the lows. Funds were estimated sellers of 4,000 soybean, 1,500 soymeal, and 2,500 soyoil contracts. While soybean…
