Corn market bullish after WASDE

Futures activity Mar-23 futures rallied 21 cents per bushel last week, back up to $6.75 per bushel. S&D and fundamental factors Argentina’s crop outlook seems to be getting worse each week. The Rosario Exchange (Argentina’s local ag forum) lowered their corn crop estimate from [...]

NY cocoa rebounds off Monday’s new contract low

On Friday, Sep. 26, the most active Dec-22 NY cocoa contract closed below the lower Bollinger Band and prior retracement support below $2,290. The contract traded lower still Monday to a fresh low of $2,243 and tested key psychological support around $2,200 on additional [...]

Surging greenback could help press pause on dollar-denominated commodities

Interest rates were increased by 50 basis points in an early-May Fed meeting, and there was strong insinuation the move would be followed by another hike of 50 points at the June meeting and perhaps several more later this year. Higher yield is attracting [...]

Chinese purchases of U.S. corn on the rise

Futures activity Corn futures pushed back up last week to above $8 per bushel. Jul-22 futures rose 24 cents per bushel, from $7.89 to $8.13. S&D and fundamental factors Chinese purchases of U.S. corn continue as exports out of Ukraine remain concerning for the [...]

Soy complex futures rise despite higher stocks

Futures activity Despite what most would consider a bearish WASDE report (at least for domestic soybeans and soybean oil), soy complex futures ended last week considerably higher than they began. Jan-22 soybean futures closed at $12.445 per bushel, up nearly 5 percent from last [...]

Corn rises to new highs

Corn futures closed higher each day last week off support from soybeans, the weakening dollar, and extended weather forecasts showing drier conditions in South America. The soybean rally picked up last week, and the market is trading above $12 per bushel for the first [...]

A currency front in the U.S.-China trade war

Nearly two years after Office of the U.S. Trade Representative (USTR) began investigating China over IP concerns and 11 months after the bulk of tariffs went into effect, President Trump announced a tariff of 10 percent on some US$300 billion of Chinese exports—upping the [...]

Go to Top