Mark's Feed
Apr 1, 2015

Soy extends rally sparked by plantings report; corn, wheat rise

CHICAGO, April 1 (Reuters) – U.S. soybean futures jumped 1.6
percent on Wednesday, their third straight day of gains, as the
U.S. government’s forecast for smaller-than-expected plantings
of the oilseed continued to fuel buying.

Corn and wheat also rose, rebounding from sharp losses on
Tuesday as bargain buyers stepped in despite huge global
supplies. A round of short covering also lent support.

Mar 31, 2015

USDA sees corn acres, stocks above expectations, record soy seedings

WASHINGTON, March 31 (Reuters) – U.S. farmers were seen
cutting their corn plantings by less than expected in 2015 even
as supplies ballooned to the highest since 1987, U.S. government
data showed on Tuesday.

The U.S. Agriculture Department, in its closely watched
prospective plantings report, also predicted that farmers would
devote a record 84.635 million acres of their fields to soybeans
this spring. But the soybean seedings outlook was below market
forecasts.

Mar 31, 2015

USDA sees corn acres, stocks above expectations; record soy seedings forecast

WASHINGTON, March 31 (Reuters) – U.S. farmers were seen
cutting their corn plantings by less than expected in 2015 even
as supplies ballooned to the highest since 1987, U.S. government
data showed on Tuesday.

The U.S. Agriculture Department in its closely watched
prospective plantings report also predicted that farmers would
devote a record 84.635 million acres of their fields to soybeans
this spring. But the soybean seedings outlook fell below market
forecasts.

Mar 18, 2015

Bargain buying props up soybeans; corn, wheat fall

CHICAGO, March 18 (Reuters) – U.S. soybean futures edged
higher on Wednesday on a round of bargain buying and
short-covering after prices fell near five-month lows on
Tuesday, traders said.

Corn and wheat were lower, weighed down by plentiful global
supplies and weakening export demand for U.S. supplies.

Mar 16, 2015

Weather concerns spur buying in U.S wheat; corn, soy fall

CHICAGO, March 16 (Reuters) – U.S. wheat futures rose for
the sixth time in seven sessions on Monday on concerns about dry
conditions in the U.S. Plains hindering growth as the winter
wheat crop emerges from dormancy.

Corn futures sagged 1.3 percent on pressure from
lower-than-expected U.S. export inspections data. Soybeans also
dropped as traders anticipated huge U.S. plantings of the
oilseed in the coming months.

Mar 10, 2015

USDA cuts world, U.S. corn stocks view as exports heat up

WASHINGTON, March 10 (Reuters) – U.S. and world corn
supplies are projected to be smaller than expected by the end of
the marketing year due to rising export demand, the U.S.
Agriculture Department said on Tuesday.

The government also left its outlook for domestic soybean
supplies unchanged and lowered U.S. wheat stocks by just 1
million bushels in its monthly supply and demand report.

Mar 10, 2015

USDA cuts world, corn stocks view due to robust exports

WASHINGTON, March 10 (Reuters) – U.S. and world corn
supplies were projected to be smaller than expected by the end
of the marketing year due to rising export demand, the U.S.
Agriculture Department said on Tuesday.

The government also left its outlook for domestic soybean
supplies unchanged and lowered U.S. wheat stocks by just 1
million bushels in its monthly supply and demand report.

Feb 10, 2015

USDA cuts U.S. supply view for corn, soybeans as demand rises

WASHINGTON, Feb 10 (Reuters) – U.S. soybean supplies were
tighter than expected due to rising demand on both the domestic
and export fronts, according to government data released on
Tuesday.

Domestic corn stocks also were forecast to be smaller than
previously thought as increased usage by ethanol producers and
the food, seed and industrial sector overcame reduced demand
from the feed sector, the U.S. Agriculture Department said in
its monthly supply and demand report.

Jan 23, 2015

U.S. corn gains on export sales; wheat flat

CHICAGO, Jan 23 (Reuters) – U.S. corn futures firmed on
Friday on support from bigger-than-expected U.S. export sales,
traders said.
“The exports are pretty important,” said Bill Gentry, broker
at Risk Management Commodities in Lafayette, Indiana. “(They
show) the corn has got some value at these and lower levels.”
Soybeans dipped, with the market consolidating near
three-month lows as the harvest from South American comes on
line. Wheat was mostly flat after climbing from overnight lows
on bargain buying.
Any signs of strength across the sector were kept in check
by ample supplies as well as a firm U.S. dollar, which hit an
11-year high against the euro and threatened to roil overseas
demand for U.S. supplies.
Chicago Board of Trade corn for March delivery was up
3 cents at $3.87-3/4 a bushel at 10:44 a.m. CST (1644 GMT). CBOT
March wheat was 1/2 cent higher at $5.34-1/4 a bushel.
Corn was on pace to close unchanged for the week. Wheat was
on track for a weekly gain of 0.4 percent, which would snap a
streak of four straight losses.
The U.S. Agriculture Department said on Friday morning that
weekly export sales of corn were a robust 2.19 million tonnes,
topping analysts’ forecasts that ranged from 800,000 to 1
million tonnes. Wheat export sales totalled 564,400 tonnes,
which also beat trade expectations.
CBOT March soybeans were down 2-1/4 cents at $9.74-1/2
a bushel. Prices have fallen 1.7 percent so far this week.
The strength in the dollar cast a bearish tone across U.S.
commodities. The euro fell to fresh 11-year lows against the
dollar on Friday following the European Central Bank’s
announcement on Thursday that it would pump a trillion euros
into the euro zone economy to revive sagging growth and ward off
deflation.
“Currency markets continue to garner most of the excitement
this week, as the dollar has definitely had a negative effect on
the grains,” Matt Zeller, director of market information at INTL
FCStone said in a note to clients.
Name Last Pct Change Net Change Pvs Close
CORN MAR5 386.75 0.78 3 383.75
SOYBEANS MAR5 974.5 -0.23 -2.25 976.75
SOY MEAL MAR5 332.2 0.64 2.1 330.1
SOYBEAN OIL MAR5 31.62 -1.09 -0.35 31.97
WHEAT SRW MAR5 534.25 0.09 0.5 533.75
ROUGH RICE MAR5 11.155 -0.04 -0.005 11.16
M.WHEAT EUR MAY5 198.75 0.38 0.75 198
LIGHT CRUDE MAR5 46.14 -0.37 -0.17 46.31
DJ INDU AVERAGE 17760.77 -0.3 -53.21 17813.98
GOLD LBMA 1290.23 #N/A -11.27 1300.98
BALTIC EXCH DRY 720 -4.13 -31 751
US DOLLAR INDEX 94.53 0.48 0.453 94.077
In U.S. cents, benchmark contracts, except EU wheat (euros) and
soymeal (dollars).

(Additional reporting by Naveen Thukral in Singapore and Nigel
Hunt in London; , Editing by David Evans and Meredith Mazzilli)

Jan 21, 2015

U.S. corn falls from one-week high; soybeans firm

CHICAGO, Jan 21 (Reuters) – U.S. corn futures slipped from a
one-week high on Wednesday on ample global supplies, traders
said.
Soybean futures edged higher, with bargain buyers picking
prices up from their lowest since October even as concerns about
dry weather culling crop production in South America eased.
“Despite recent talk of drier-than-normal weather across
Brazil, most local observers still see soybean production on
track to set new records,” Morgan Stanley analyst Bennett Meier
said in a note to clients.
Brazilian crop analysts Celeres pegged the country’s 2014/15
soy crop at a record 94.2 million tonnes, up 3 percent from its
August forecast.
The expectations for a huge crop kept the gains in soybeans
in check and the market fluctuated between positive and negative
territory several times during the session.
Strength in soymeal futures also added support. Traders on
the cash market noted a pick-up in export demand for U.S.
soymeal due to higher-than-expected prices for South American
supplies.
Chicago Board of Trade March soybeans, the most
actively traded oilseed contract, were up 1-3/4 cents at
$9.83-3/4 a bushel at 11:35 a.m. CST (1735 GMT). Deferred
contracts firmed slightly.
CBOT March corn was 2 cents lower at $3.88-1/4 a
bushel.
Wheat was mixed, with soft red winter wheat firming for the
second day in a row. High-protein spring wheat and hard red
winter wheat were lower due to bigger-than-expected supplies in
the U.S. countryside.
CBOT March soft red winter wheat was up 1-1/2 cents at
$5.38-1/2 a bushel. MGEX spring wheat was off 7-1/4
cents at $5.82-1/4 a bushel and K.C. hard red winter wheat for
March delivery was down 4 cents at $5.73-3/4 a bushel.
The Minneapolis Grain Exchange said on Wednesday there were
19.4 million bushels of wheat in its storage warehouse in
Duluth, a 1.9 million bushel increase from a week earlier.

In Brazil, a cold front has broken into Brazil’s southeast
and center-west agricultural areas, Somar meteorologists said on
Wednesday, ending at least 20 days of unseasonably hot, dry
weather.
Name Last Pct Change Net Change Pvs Close
CORN MAR5 388.25 -0.51 -2 390.25
SOYBEANS MAR5 983.25 0.13 1.25 982
SOY MEAL MAR5 329.7 0.98 3.2 326.5
SOYBEAN OIL MAR5 32.49 -1.07 -0.35 32.84
WHEAT SRW MAR5 538.25 0.23 1.25 537
ROUGH RICE MAR5 11.325 0.53 0.06 11.265
M.WHEAT EUR MAY5 198.25 0.89 1.75 196.5
LIGHT CRUDE MAR5 47.59 2.41 1.12 46.47
DJ INDU AVERAGE 17555.62 0.23 40.39 17515.23
GOLD LBMA 1291.9 #N/A -1.66 1293.56
BALTIC EXCH DRY 770 2.26 17 753
US DOLLAR INDEX 93.025 -0.02 -0.021 93.046
In U.S. cents, benchmark contracts, except EU wheat (euros) and
soymeal (dollars)

    • About Mark

      "I cover grain futures out of Chicago, with a focus on the wheat market. Examining the effects of world crop production on prices and the vagaries of export demand for U.S. supplies takes up most of my time. Previously, I was a reporter on the equities desk in New York and I got my start as a news assistant in the Washington Bureau."
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