April 22, 2017 - Author: Ken Morrison
Friday's Cattle on Feed report set a new 21-year old record for placements in March exceeding all market expectations by 100,000-head. The weight-classes also showed heavier weights than last month indicating market-ready supply implications for mid-summer. It will test the resolve of those friendly/long cattle. Read More...

April 20, 2017 - Author: Ken Morrison
Grains, especially wheat, could hardly have been uglier today with winter wheat setting new contract lows. But the key will be follow through or lack thereof. Read More...

April 19, 2017 - Author: Ken Morrison
Within the context of supply outlooks and seasonal tendencies, we examine the possibility prices for meat proteins may be seeing their best levels. Read More...

April 18, 2017 - Author: Ken Morrison
A couple events today reminded me to revisit 3-month-old outlooks to determine if they remain valid and reasonable. Read More...

April 17, 2017 - Author: Ken Morrison
Based on trade estimates for Canada's crop acreage, oilseeds are replacing wheat with Canola expected to be near the 2012 record and soybeans continue their growth of the past 7 years. Read More...

April 16, 2017 - Author: Ken Morrison
The most favorable underpinning of the crop markets in the near term may be the magnitude of the net-short position held by professional speculators. Read More...

April 12, 2017 - Author: Ken Morrison
Following up to Tuesday's discussion on the outlook for USDA's May forecast, we take a look at the possible impact on the U.S. if producers opt to change their acreage from the March intentions. Read More...

April 11, 2017 - Author: Ken Morrison
The information received since USDA's February outlook at the Ag Outlook meeting provide a basis for projecting USDA's important global forecast in May. Read More...

April 10,2017 - Author: Ken Morrison
The prospects for resumed U.S. beef trade with China is a reason for optimism but expectations for the timing need to be tempered due to the many agreements that must be hammered out before trade resumes. Read More...

April 5, 2017 - Author: Ken Morrison
The Dakota Access pipeline connecting North Dakota's Bakken oil to the Midwest and Gulf Coast should begin flowing by mid-month. It will cut transportation costs by $3-$5/barrel for the near-500,000 barrels/day it transports. Read More...

April 4, 2017 - Author: Ken Morrison
Continued softness in wholesale beef and pork remain negative backdrops for market-ready cash and livestock futures. Technically today's closing levels leave the markets vulnerable to downside risk. Read More...

April 3, 2017 - Author: Ken Morrison
To put context behind the major shift in risk-positions witnessed in funds trading corn over the past 3 weeks. USDA's revisions on Brazil corn production may have tipped the fund's sentiment. Read More...

April 1, 2017 - Author: Ken Morrison
Kansas lived up to my expectations adding 950,000 acres of soybeans for 2017, the largest state contributor to the 6 million U.S.-wide increase. But I make a case for some shrinkage in U.S. soybean acres given the recent diminished revenue incentive. Read More...

March 30, 2017 - Author: Ken Morrison
The surveys, analysis, and guesses are completed. All that remains is to wait and see if the outcomes are aligned with current market thinking. Read More...

March 29, 2017 - Author: Ken Morrison
Thursday's quarterly Hogs & Pigs report is the next big test for traders and producers. If it's anything like the December report, expect more surprises. Read More...

March 28, 2017 - Author: Ken Morrison
Friday's USDA reports (stocks and planting intentions) will feature large numbers; record soybean acreage and the largest March 1 corn stocks in the ethanol-era to name two. But it will be the market's reaction to them that is more important than the news. Read More...

March 27, 2017 - Author: Ken Morrison
Estimates and survey-results of Producer Planting Intentions indicate a wide range of ideas on Spring wheat acreage. Variances could have huge implications for spring wheat and alternative crops in those areas. Read More...

March 25, 2017 - Author: Ken Morrison
Professional money-managers thrive on trends and are mostly indifferent on the direction. The trends in most commodities have attracted a lot of new funds to participate which partially explains the increases we've seen in futures open interest. Read More...

March 23, 2017 - Author: Ken Morrison
To the extent Brazil's scandal and restricted trade in global beef adversely weakens their currency as was the case today, it has knock-on effects to other commodities competing with Brazil. Read More...

March 22, 2017 - Author: Ken Morrison
This afternoon's cold storage report is probably not a market-mover with month-over-month changes in line with seasonal tendencies. Read More...

March 21, 2017 - Author: Ken Morrison
I can think of more reasons why U.S. beef will not be called upon to replace Brazilian beef than compelling reasons why it will. Read More...

March 20, 2017 - Author: Ken Morrison
The next 10 days USDA will release 5 reports, any one of which can move the crop or livestock markets. Read More...

March 18, 2017 - Author: Ken Morrison
Professionally money-managed funds set several records for money-flow activity in the week ending March 14. Indicative of their convictions, @ 50% of it was initiating new short positions. Read More...

March 15, 2017 - Author: Ken Morrison
Allendale says boxed beef values topped out on an interim basis March 16, 2016 and April 3, 2015. We found the same to be true for Cattle futures. It's something to keep in mind considering boxed beef has been in rally-mode for @ 30 days and $32/cwt. Read More...

March 14, 2017 - Author: Ken Morrison
Despite lower closes in a number of markets I was encouraged by the intra-day price action based on the successful test of support levels. Upside follow through Wednesday would stabilize sentiment and price. Read More...

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