Corn market quieter last week
Futures activity Sep-22 corn futures ended last week close to where they started, closing at $6.1025 per bushel. Dec-22 futures were up a mere quarter of a cent from the start of last week, [...]
U.S. corn export sales at five-week high
U.S. weekly corn export sales were a five-week high in the week ending Jul. 21. The season’s total volume is still lagging YOY. Top buyers for the week included Mexico (70,000 MT), Japan (41,700), [...]
Cocoa futures correct lower midweek
Last week, Sep-22 NY cocoa failed tests of the upper Bollinger Band and resistance near $2,400, instead falling below the 20-day average but finding retracement support below $2,320. The contract tested a minor rebound [...]
Heavy reductions in old-crop soybean export sales
Net 2021/22 soybean export sales have been negative for four of the last five weeks, lowering total commitments to 2.188 billion bushels as of Jul. 21, compared to 2.211 billion as of Jun. 16. [...]
USDA makes big dairy adjustment, erasing 25% of estimated herd deficit
Although USDA typically tweaks the previous month’s dairy herd statistics, the most recent milk production figures released in July saw a much bigger adjustment. Changes were made going back many months, almost to the [...]
Soy complex rebounds as Midwest weather turns ominous
Futures activity Soybean futures demonstrated their greatest gains in about 18 years last week as weather concerns moved into the market. Aug-22 soybean futures increased by $1.64 per bushel last week to close at [...]
Weekly ethanol usage is on the lower side despite high gas prices
For the week ending Jul. 15, U.S. weekly ethanol blending and refining use was unchanged from last week, and use has been on low side compared to last season. Gasoline averaged around $4.77 per [...]
Canola oil market update
U.S. pricing falls back below a dollar: Nominal RBD canola oil pricing in the Midwest as of mid-July was down about 15 percent from the month-ago level and down about 6 percent year over [...]