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Can Corn Export Pace Pick Up Enough?
Corn sales have been in catch up mode for several weeks but have been cutting the distance significantly. The sales are reported by FAS or Foreign Ag Service of USDA. However, sales are only the first leg to get over the fence to reach USDA’s export projection. Can the US…
Trust Your Judgement
It’s been a little over a year since I joined the good people at Lakefront as a broker to work with farmers who are trying to manage their product price risk. Since then we’ve been focusing on trying to forecast trends where we may like to try and market their…
Soybean shortage or poor crush capacity allocation?
Is the bean rally really all about a bean shortage? Perhaps more about logistics? Argentina is a massive supplier of soy products to the world market. In 2016/17 Argentina exported 31.32 mmt (production of 33.28mmt) of soymeal to the world market out of a total of 67.18 mmt exported; that’s…
January WASDE, Production, and Quarterly Stocks Reports
This past week was saw new shorts piling into corn pushing open interest up by over 50,000 contracts by Thursday’s close. Despite this increase, corn only traded down about 3-4 cents to 346’0 and then traded that 3-4 cent range until Thursday close. Beans saw the same type of money…
Market Overview
Headlines Weaker BNSF car freight trade Front end PNW corn and soybean basis slightly weaker Gulf corn/soybean basis weaker; domestic corn/soybean basis firm Argentina weather turned a bit wetter Pre-report Estimates and Polling for 2017/18 Market Year Corn US ending stocks 2.478 bb vs 2.487 LM (better ethanol prod; HAS…
Market Commentary 10.25.12
Overview Wednesday shortly after Tokyo Open Australian Bureau of Statistics (ABS) reported Consumer Price Index (CPI) for Third Quarter (3Q) as having increased Year on Year (YoY) more than both analysts’ expectations and also 2Q’s YoY CPI increase or data precluding more Rate decreases by Reserve Bank of Australia (RBA),…
