Wheat Weekly Comments May 17

To start the week wheat opened the overnight session lower and maintained small losses throughout the night. Mpls was able to shake off the selling pressure first and stage a small recovery by the time the night session was drawing to a close. Overnight pressure was due to forecasts for rain late in the week […]

Corn Weekly Comments May 17

Corn started the week by opening the overnight session lower and then held onto small losses throughout the overnight session. Early selling was tied to profit taking and expectations that this afternoon’s Crop Progress report will show some planting progress in the Corn Belt. Additional selling was tied to Brazil’s Patria Agronegocious corn production estimate. […]

Soybean Weekly Comments May 17

To start the week soybeans gapped lower at the start of the overnight session and stayed on the lower side overnight. The market got back on the positive side at the start of the day session only to fade late in the day session to trim the day’s gains. Overnight losses were due to Friday’s […]

Canola/Sunflower Weekly Comments May 17

To start the week canola opened lower overnight but quickly recovered and turned higher. The market continued to slowly add to the gains in the day session, closing with decent gains. Support came from the strong gains in the soybean oil market. The higher Malaysian palm oil and European rapeseed markets added to the gains. […]

Cattle Weekly Comments May 17

Live cattle started the week off on the defense but then spent the rest of the week posting solid gains. Feeder cattle were able to post gains every session this week. Live cattle were supported by this week’s strong boxed beef market as well as from encouraging economic data. Feeder cattle were able to see […]

Export Sales Report May 16

Last week’s wheat export sales pace was estimated at 2.9 MB. After 49 weeks, wheat sales were at 97% of USDA’s expectations vs. 91% last year. With 3 weeks left in wheat’s export marketing year, sales need to average 8.3 MB to make USDA’s projection of 720 MB. Last week’s corn export sales pace was […]