Corn prices remain weaker at midday on chances of rainfall next week in Argentina.
Weekly corn export sales came in at 57 mb, which was in line with trade estimates. Year-to-date commitments total 1.885 billion bushels, up 29% from a year ago.
The Buenos Aires Grain Exchange reported that corn conditions in Argentina improved 3% from last week to 19% good-to-excellent.
Ag lender, CoBank, sees corn acreage in the US at 94.55 million acres, up from 90.6 last year.
Soybeans continue to trade lower at midday on improving harvest progress in Brazil and chances of rain next week in Argentina.
Weekly soybean export sales totaled 18 mb, which was on the high end of expectations. Year-to-date commitments total 1.607 billion bushels, up 13% from last year.
CoBank projects lower planted acres for soybeans compared to last year at 84 million acres.
Argentina’s crush for January came in above expectations at 2.896 mmt, but was well below December’s 3.649 mmt.
Wheat prices are firm at midday on expected dry conditions in the Plains states over the next two weeks.
Weekly wheat export sales came in above trade expectations at 23 mb. Year-to-date commitments total 726 mb, up 11% from a year ago.
The International Grains Council has raised their global wheat production estimate by 1 mmt to 797 mmt.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn prices remain weaker at midday on chances of rainfall next week in Argentina.
Weekly corn export sales came in at 57 mb, which was in line with trade estimates. Year-to-date commitments total 1.885 billion bushels, up 29% from a year ago.
The Buenos Aires Grain Exchange reported that corn conditions in Argentina improved 3% from last week to 19% good-to-excellent.
Ag lender, CoBank, sees corn acreage in the US at 94.55 million acres, up from 90.6 last year.
Soybeans continue to trade lower at midday on improving harvest progress in Brazil and chances of rain next week in Argentina.
Weekly soybean export sales totaled 18 mb, which was on the high end of expectations. Year-to-date commitments total 1.607 billion bushels, up 13% from last year.
CoBank projects lower planted acres for soybeans compared to last year at 84 million acres.
Argentina’s crush for January came in above expectations at 2.896 mmt, but was well below December’s 3.649 mmt.
Wheat prices are firm at midday on expected dry conditions in the Plains states over the next two weeks.
Weekly wheat export sales came in above trade expectations at 23 mb. Year-to-date commitments total 726 mb, up 11% from a year ago.
The International Grains Council has raised their global wheat production estimate by 1 mmt to 797 mmt.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
