This week was only four-day trading week in most countries due to the New Year holiday being celebrated in Monday but there was still enough time to get some excitement in the market. Probably the biggest surprise was the USDA cancelling close to 900,000 m/t of previously reported export soybean sales. This helped to move soybean prices down by USD 6.50 m/t on Friday and overall USD 4 m/t lower on the week. Soymeal was also pushed lower by the news – down USD 5 m/t. ...........please click PDF to see more details
With all the holidays these days it is not easy to get up to date trade info --- of course, with everyone on holidays who cares about trade info.
Most all US grain prices were up on the week: corn was up by about USD 2 m/t with soybeans up by about the same. Soymeal prices were up by about USD 5 m/t. Both soft and hard red winter wheat were up by about USD 5 m/t..........please see PDF to see more details
It didn’t seem like much of an exciting week in the grain and oilseed business in the US. As the week ended most of the prices, including futures, were at about the same level as the week before. Perhaps everyone was recovering from the USDA WASDE report last week......please click PDF to see more details
There is a little less information in the report this week as many of the information sources are US based and didn’t work on Thursday or Friday. While the futures market was open on Friday most of the excitement came from earlier in the week...........please click PDF to see more details
Once again, it was not too exciting a week in the grain business – probably too much interest in how the last of the US harvest was going. Corn prices were up a very little in the futures market but were down in little for export as logistics seem to be working a little better and the export basis has slipped a bit. However, for CNF buyers, the rally in freight prices looks to be continuing and the small drop in
FOB NOLA prices was offset by increased ocean freight to almost everywhere.......please click PDF to see more detail
Now then, what can we say about US grains and oilseeds – well not all that much. Corn prices were down by about USD 3 m/t on average although some traders had export corn prices higher on the week as tight logistics were a bigger effect than lower futures.........please click PDF to see more details.
This coming week is election week in the US, so it is possible that markets may do strange things as we get closer to the voting – or the markets may do nothing as everyone sits on the side and waits to see the election results. From the current reports it looks like things are just getting closer and closer, although the NY Times still has Hillary at an 88 percent chance of winning..........please click PDF to see more details
In the US, things were quite quiet on the corn front with export prices moving up a little due to logistic problems but not much happening in the futures and cash markets. The US corn harvest is moving along quickly and some areas in the US are all but completed their harvest. This weekend will see a strong push toward finishing the corn harvest in much of the US........please click PDF to see more details
