Global Hot Spots
Hot spots include a titanic subtropical ridge anchored over Australia and similarly over Brazil. Meanwhile steady cold develops into Europe.
US Soybean Ship Lineup Increases Slightly But Big Surge in the Number of Vessels To-Be-Nominated
Summary: Next week ’s soybean export inspections are expected to be 950,000 MT (34.9 Mil Bu). If this is correct, that would be up 41% from the previous week’s. This week’s ship lineup is 1,312,000 MT. That is up 6% from last week. This week’s lineup is 26% smaller than a year ago. There were 30 vessels to-be-nominated (TBN). That is up from last week and is twice as…
CME Cattle Called Steady Awaiting Cash Trade; South American Weather Pattern Shows No Change – Crops Yields to Decline
** AgResource Daily Cattle Analysis: Cattle futures were quietly back and forth Thursday trading before closing the day firm. A steady outlook is offered for early trade this morning. A lower start to the morning found good demand that continued to support February futures on breaks below unchanged but rallies also could not get much…
CBOT Firms on Long Range Threatening South American Weather; US and China to Meet in Washington at High Gov’t Level
** 6:30 AM CBOT Futures Are; Mar soybeans are up 3.50 cents at $9.105, Mar corn is up 2.50 cents at $3.7875 while Mar Chi wheat is up 5.50 cents at $5.19 ** AgResource Morning CBOT Comment/Analysis: Good Morning! CBOT overnight futures are firm on news that the US/China are preparing to get back to…
CONAB January Crop Estimates
Brazil’s national crop forecasting agency CONAB released their January crop report on Thursday, which lowered the agency’s estimate of the soybean crop to 118.8 MMTs, down from the Dec estimate of 120 MMTs. Most of the decline was due to a lower crop yield, but CONAB also made a rare cut to the total cropped…
