South American Forecast Consistent with Prior Output; 6-10 Outlook Must Verify: The EU and GFS models end the week in agreement. The pattern into next week will be too dry in Central and Northern Brazil and much too wet across Southern Brazil. Net soil moisture loss persists in Mato Grosso and Goias. Yet more rainfall…
Minor Veg Oil Markets Resume Bull Trend; Rapeseed Oil Soars: Global vegetable oil markets are recovering quickly following weakness in mid-January. Palm oil’s recovery has been somewhat slow, but minor oilseeds across Europe and the Black Sea region are clearing working to ration near-term supply. CBOT soy oil prices are still cheap in the world…
Soybeans Reverse on South American Crop Concern Amid Corn Rally: Harvest delays in Brazil along with excessive Parana rainfall rallied CBOT soy futures on Friday. Chinese crush rates have been record large nearly every week since October, and the January crush shows no indication of slowing down. Crush margins remain historically strong and implied soybean…
CBOT Corn Rallies Sharply on Chinese Purchase; Additional Sales to China Anticipated: CBOT corn futures found new rally highs before easing into the close. China secured 83 Mil Bu of US corn and this week exporters have sold just over 240 Mil Bu to China/unknown destinations. Following this week’s demand, exporters moving forward must average…
CBOT Wheat Reverses Thursday’s Loss; Seasonal Trend Positive into March: US wheat futures ended sharply higher amid rising corn price targets. The rally in global fob offers has paused, but ARC’s work suggests that the European market will lead world values higher into spring. Following sizable production loss and better than expected Jul-Jan exports, and…
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