Afternoon Grain Commentary 2018-08-29T18:26:48+00:00

Morning 

Commentary

Daily 

Video

Afternoon 

Commentary

Special 

Reports

Livestock 

Commentary

Newsletter

Archive

Market News and Updates

Morning Commentary

Daily Video

Afternoon Commentary

Special Reports

Livestock Commentary

Newsletter Archive

September 19 Afternoon Comments

By Steve Freed

SOYBEANS

November soybeans closed higher on the day after trading down to the lowest level since September 12th early. This is a positive technical development. December oil closed slightly lower on the day but well up from the lows. Minor support held and November soybeans closed higher. Strong export sales and talk of production uncertainties ahead helped to support the rally. Weekly export sales for soybeans came in at 1,728,100 metric tonnes from trade expectations for 700,000 to 1.2 million tonnes. As of September 12th, cumulative soybean sales stand at 23.1% of the USDA forecast for 2019/2020 (Next) Marketing Year versus a 5 year average of 43.3% sold by this time of the year. Net meal sales came in at 93,700 metric tonnes for the current marketing year and 342,100 for the next marketing year for a total of 435,800. Traders  were looking for meal sales near 125,000 to 250,000 tonnes. Cumulative soybean meal sales stand at 16.4% of the USDA forecast for versus a 5 year average of 24.2%. Net oil sales came in at 18,900 metric tonnes for the current marketing year and 1,700 for the next marketing year for a total of 20,600 vs. trade expectations for 5,000 to 20,000 tonnes. Traders will continue to monitor progress in trade talks.

Soybean Futures Chart

CORN

After trading both sides of unchanged on the day, December corn closed slightly higher on the day. US biofuel credits fell 10% ahead of a meeting between the President and Senators to discuss biofuel policy. Weekly export sales came in at 1,464,600 metric tonnes for the current marketing year and 64,900 for the next marketing year for a total of 1,529,500. Traders were looking for sales near 850,000 to 1.5 million tonnes. Recall, last week Mexico booked 1.042 million tonnes of corn. As of September 12th, cumulative corn sales stand at 16.6% of the USDA forecast for 2019/2020 (next) marketing year versus a 5 year average of 25.1%.

Corn Futures Chart

WHEAT

December wheat closed slightly lower with an inside trading session. Sluggish export sales news clashed with talk of deteriorating crops in the southern hemisphere. Weakness for the US dollar was seen as positive force. December KC wheat closed just 1 tick lower and managed to trade up to the highest level since August 12th. Net weekly export sales for wheat came in at 286,600 metric tonnes as compared with trade expectations for near 300,000 to 600,000 tonnes. As of September 12th, cumulative wheat sales stand at 46.3% of the USDA forecast for 2019/2020 (current) marketing year versus a 5 year average of 52.4% sold by this time of the year.

Wheat Futures Chart

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

By Steve Freed

SOYBEANS

PASTE SOYBEAN TEXT

CORN

PASTE CORN TEXT

WHEAT

PASTE WHEAT TEXT

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

September 19th, 2019|
Load More Posts

Related Posts

September 19 Afternoon Comments

By Steve Freed

SOYBEANS

November soybeans closed higher on the day after trading down to the lowest level since September 12th early. This is a positive technical development. December oil closed slightly lower on the day but well up from the lows. Minor support held and November soybeans closed higher. Strong export sales and talk of production uncertainties ahead helped to support the rally. Weekly export sales for soybeans came in at 1,728,100 metric tonnes from trade expectations for 700,000 to 1.2 million tonnes. As of September 12th, cumulative soybean sales stand at 23.1% of the USDA forecast for 2019/2020 (Next) Marketing Year versus a 5 year average of 43.3% sold by this time of the year. Net meal sales came in at 93,700 metric tonnes for the current marketing year and 342,100 for the next marketing year for a total of 435,800. Traders  were looking for meal sales near 125,000 to 250,000 tonnes. Cumulative soybean meal sales stand at 16.4% of the USDA forecast for versus a 5 year average of 24.2%. Net oil sales came in at 18,900 metric tonnes for the current marketing year and 1,700 for the next marketing year for a total of 20,600 vs. trade expectations for 5,000 to 20,000 tonnes. Traders will continue to monitor progress in trade talks.

Soybean Futures Chart

CORN

After trading both sides of unchanged on the day, December corn closed slightly higher on the day. US biofuel credits fell 10% ahead of a meeting between the President and Senators to discuss biofuel policy. Weekly export sales came in at 1,464,600 metric tonnes for the current marketing year and 64,900 for the next marketing year for a total of 1,529,500. Traders were looking for sales near 850,000 to 1.5 million tonnes. Recall, last week Mexico booked 1.042 million tonnes of corn. As of September 12th, cumulative corn sales stand at 16.6% of the USDA forecast for 2019/2020 (next) marketing year versus a 5 year average of 25.1%.

Corn Futures Chart

WHEAT

December wheat closed slightly lower with an inside trading session. Sluggish export sales news clashed with talk of deteriorating crops in the southern hemisphere. Weakness for the US dollar was seen as positive force. December KC wheat closed just 1 tick lower and managed to trade up to the highest level since August 12th. Net weekly export sales for wheat came in at 286,600 metric tonnes as compared with trade expectations for near 300,000 to 600,000 tonnes. As of September 12th, cumulative wheat sales stand at 46.3% of the USDA forecast for 2019/2020 (current) marketing year versus a 5 year average of 52.4% sold by this time of the year.

Wheat Futures Chart

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

By Steve Freed

SOYBEANS

PASTE SOYBEAN TEXT

CORN

PASTE CORN TEXT

WHEAT

PASTE WHEAT TEXT

The information conveyed by ADMIS or its affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity futures contracts.

September 19th, 2019|
Load More Posts