Crop Progress Report June 22
As of June 21, the nation’s winter wheat harvest was 40% complete vs. 25% last week and 24% average. Winter wheat’s crop condition rating decreased 1% to 26% g/e, 28% fair and 46% p/vp. As of June 21, 16% of the nation’s spring wheat was headed vs. 6% last week and 16% average. Spring wheat’s […]
Crop Progress Report June 22
As of June 21, the nation’s winter wheat harvest was 40% complete vs. 25% last week and 24% average. Winter wheat’s crop condition rating decreased 1% to 26% g/e, 28% fair and 46% p/vp. As of June 21, 16% of the nation’s spring wheat was headed vs. 6% last week and 16% average. Spring wheat’s […]
Export Shipments Report June 22
Last week’s wheat export shipments pace was estimated at 14.4 MB. After 3 weeks, wheat shipments were at 5% of USDA’s expectations vs. 3% last year. With 49 weeks left in wheat’s export marketing year, shipments need to average 15.1 MB to make USDA’s projection of 775 MB. Last week’s corn export shipments pace was […]
Export Shipments Report June 22
Last week’s wheat export shipments pace was estimated at 14.4 MB. After 3 weeks, wheat shipments were at 5% of USDA’s expectations vs. 3% last year. With 49 weeks left in wheat’s export marketing year, shipments need to average 15.1 MB to make USDA’s projection of 775 MB. Last week’s corn export shipments pace was […]
Wheat Weekly Comments June 18
To start the week wheat opened the session mixed with Mpls steady while the winter wheat exchanges started lower. Early selling was tied to news that the US and Iran have agreed to a memo of understanding to end the war. In reality the memo stops the fighting, reopens the Strait, and lifts sanctions, and […]
Corn Weekly Comments June 18
In Monday’s session corn opened lower and extended session losses throughout the session. Early selling was tied to spill over pressure from a sharply lower crude oil market. Expectations that the afternoon’s Crop Progress report is going to show improving conditions added pressure. Light selling came from Friday’s COT report which shows the funds have […]
Soybean Weekly Comments June 18
To start the week soybeans gapped lower at the start of the overnight session and then traded in a choppy fashion. The markets saw the session lows at the start of the day session but then climbed higher and closed with small gains. Overnight pressure came from US/Iran agreement to end the war, which pulled […]
Canola/Sunflower Weekly Comments June 18
In Monday’s session canola dropped about $4.00 lower at the start of the overnight session and then added to the losses. The market was able to trim some of the losses in the day session but still closed lower. Pressure came from the US/Iran deal to end the war, which send the crude oil and […]
Cattle Weekly Comments June 18
Cattle posted gains in every session this week. Early support came from what traders’ thought was to give the market a bit of a new world screwworm premium. The realization that the pest will not impact food quality but instead result in an increase in producer cost and labor helped support the cattle market. Futures […]
June Cattle on Feed Report
The June COF report was bullish cattle as all three categories came in below expectations. The numbers for the report were: On Feed: 102% (1% below expectations), Placed: 90% (4% below expectations), and Marketing: 88% (1% below expectations). The Market estimate was the second lowest report for May since the series started in 1996.