Commentary

COMMENTARY 12/11/17

STL River level continues to weaken, freight higher and draft restrictions. CORN DOWN 3 A slightly wetter SA forecast pulled things down.   Export Inspections didn’t help, being mid range at 25.9 mill vs expectations of 22 – 31, but pale compared to the USDA’s 1.925 bill bu forecast.  Some 43 mill per […]

Read more

COMMENTARY 12/8/17

STL River level continues to weaken……  Continued lack of rain to the N will not be doing us any favors to help keep freight cheap. CORN UP 1 SA production uncertainty offered support but still ended the week six cents lower. Commercial and technical buying also contributed to the support. Argentine weather […]

Read more

COMMENTARY 12/7/17

STL River level continues to teeter in the low water category.  Continued lack of rain to the N will not be doing us any favors to help keep freight cheap. CORN DOWN 1 Two-sided again today.  Better early on technical buying but gains faded.  Export Sales were a smidge […]

Read more

COMMENTARY 12/6/17

CORN DOWN 1 Quiet!  Higher early on technical buying and Argentine weather but then faded. Tomorrow’s Export Sales are expected to  be 31 – 47 mill bu.  US values seem to be competitive in the world market but recent lack of new sales makes one wonder.  In SA, […]

Read more

COMMENTARY 12/5/17

CORN UNCHANGED Bean’s pulled corn three higher for a while.  There was a sale announced to China of 162K MT milo.  Informa updated their est for Brazil and reduced the crop by 3 to 89.0 MMT.  That is 6 MMT off of Nov WASDE. The Argentine est was left unchanged at 42.0 […]

Read more

COMMENTARY 12/4/17

CORN DOWN 5 Firmer overnight but lower as the day went on due to Fund selling.  Monday’s Export Inspections were disappointing at only 23.1 mill bu bringing year to date to 309.  That compares 541 last year.  Ethanol margins  were  flat today as the heavy cash market weighed in and crude was pressured.  The Dow made yet another […]

Read more

COMMENTARY 12/1/17

CORN UP 3 More China talk and Safras’s est has Brazil Production declining. There was also a much needed 130 K MT sale to Unknown.  In SA, Safras sees the potential for a 17% decline in the Brazilian crop to 90.5 which is 4.5 MMT below the last USDA est. Acres are also […]

Read more

COMMENTARY 11/30/17

CORN UP 2 Bouncy.  Export Sales  were low at 23.6 vs expectations of  28 -43 mill bu.  We really need to seem some demand show up.  Producer movement is light due to the low cash price.  The bean corn ratio dropped again today in SH/CH.  This encourages bean […]

Read more

COMMENTARY 11/29/17

CORN UP 3 A little strength on short with a drier Argentina forecast. The first 35% of Argentina’s corn will soon be pollinating  Dec/Jan.  If dry conditions continue or worsen into LH Dec, we could see some pollination issues.  Certainly something that bears watching!  <- Hey!  THERE is a justifiable bullish item.  On the […]

Read more

COMMENTARY 11/27/17

CORN DOWN 2 Demand is quiet as the BIG crop is all but put away.  Next support is down at 3.28 1/2 in the Dec Fut.  Cumulative US exports are only 285 mill bu according to AMS, that’s 210 mill behind or 42% less. The USDA forecast is looking for 16% or 368 mill bu […]

Read more