Corn prices moved higher this week with very good export sales and shipments and limited farmer selling. Everyone is expected to be watching the corn planting numbers on Monday – the numbers will be higher but don’t look to be able to catch up to the average yet. The situation is still very dry in Brazil which is certainly bullish for corn prices. Also, the stronger US dollar will make US corn exports a little less competitive in some markets. The current trend for corn prices would seem to be to higher levels..........please click PDF to see more details

It was much of an up week for prices this week as the US crop progress report (see below) was very supportive of higher prices.

Quite a down week this week for all US prices. Corn prices were not down too much compared to soybeans at only about USD 4 m/t lower while soybeans dropped by about USD 9 m/t and soymeal was down by USD 7 to 8 m/t. Wheat prices were also lower with winter wheat slipping by about USD 4 m/t and spring wheat by about USD 8 m/t...........please click PDF to see more details

The US grain and oilseed markets ended the week on a down note as improved weather in the US helped push prices down as did concern over the US/China trade problems. However, most experts seemed to be much more concerned with the rainfall than with Trump and China.
Even with a weak Friday, soybean prices were still up by close to USD 8 m/t on the week........please click PDF to see more details

The trade situation with China was the main point of interest for grain and oilseed people this week and soybeans slipped lower on China concerns. Trade fights aside, soybeans had a very good export week and it will be interesting to see if the export volume continues.
Soybean prices in the US were down about USD 4 m/t on the week with soymeal prices down by about the same amount. Argentina’s soybean production estimates were lowered again this week...........please click PDF to see more details 

As was to be expected the USDA Quarterly Stocks and Planting Intentions report was the excitement of the week. Reported stocks in the report were above what the trade had expected for both corn and soybeans and close to expectations for wheat – both corn and soybean stock levels were higher than March 2017 with soybean stocks much higher. Certainly bearish stocks for corn and soybeans...........please click PDF to see more details

Ah, it is all in the rainfall isn’t it! Or, if it is not rainfall, it is the reaction to US trade restrictions.
The US had some quite good rainfall this week which was good for thirsty wheat and in advance for corn and soybeans – nothing like building the ground moisture level to help he next crop.........please click PDF to see more details

Another interesting week with corn prices slipping lower by about USD 3 to 5 m/t while soybeans were up by about the same amount, but wheat prices took a very nice dip with prices for winter wheat dropping by about USD 7 to 10 m/t.
Soybeans were the commodity of interest in all the news stories this week with the revised Argentina soybean crop down by another 6.5 million m/t – about 15% - and overall crop yield down by 12%, all due to the lack of moisture in much of Argentina........please click PDF to see more details

So, this was the week of the WASDE – normally the most exciting week of the month during the winter period. Corn had a somewhat bullish WASDE report but only somewhat with prices only moving up by USD 2 or 3 m/t on the week. Soybeans and soymeal got hit hard by the WASDE with larger year end stocks in the US and higher expected yields in Brazil and ended the week with losses of about USD 12 m/t for soybeans and close to USD 20 m/t for soymeal.

Looks like another week of the soybean as Argentina is still at center stage in world grain markets and comments. US futures prices for soybeans were up by about USD 8 m/t while soymeal rallied by close to USD 15 m/t.
But it wasn’t just soybeans this week as wheat also took a good run higher with US hard red winter wheat (HRW) up by USD 18 m/t while US soft red winter wheat was up by about USD 13 m/t.................please see click PDF to see more details