November 11, 2019 - Author: Ken Morrison
A recent survey taken in 2 of China's main hog production regions indicate some herd-rebuilding has begun as profits incentivize renewed growth. But record pork prices are also taking its toll on consumer pork demand. Read More...

November 10, 2019 - Author: Ken Morrison
It's abundantly clear crop prices have struggled to improve despite challenging weather that has limited yield potential. What's less well known is why prices appear stuck at or near the same levels of the past 4-5 years. I examine the global situations of 4 major crops illustrating why prices are struggling and why that may be the case for awhile. Read More...

November 7, 2019 - Author: Ken Morrison
We head into Friday's USDA estimate aware the trade has under-estimated corn and soybean yields vs. USDA consistently even as yields in late-harvest years tend to improve by the final. Be aware the trade may once again be underestimating yields vs. USDA as they have consistently done the past 3-4 months. Read More...

November 6, 2019 - Author: Ken Morrison
Markets reacted negatively to news the signing of Phase 1 with China may be delayed until December. I maintain there need be no trade deal with China in order to trade with China. Simply abandon tariffs and allow global trade to flow naturally; like it did prior to the tariff-wars. Read More...

November 5, 2019 - Author: Ken Morrison
We examine the history of global soybean trade with an emphasis on U.S., Brazil, and China's share. With that information we make a reasonable estimate of U.S. soybean exports if/when trade with China normalizes. Read More...

November 4, 2019 - Author: Ken Morrison
With USDA's monthly supply and demand update Friday, we update corn and soybean export sales with comparisons to forecast and historical levels at this time of year. Read More...

October 30, 2019 - Author: Ken Morrison
Following Tuesday's focus on beef, today we consider the implications of total U.S. protein production (beef, pork, broilers), projections for exports, and domestic consumption. Read More...

October 29, 2019 - Author: Ken Morrison
With only a couple exceptions, beef and fed-cattle futures have followed long-term seasonal price trend tendencies. But one possible red flag is the higher than normal boxed beef values may discourage food service providors from menu features in Q1. Read More...

October 28, 2019 - Author: Ken Morrison
Prevailing sentiment from analysts and producers expect corn yields to decline relative to USDA estimates when final results are announced in January. Much of the expectation is rooted in the notion of late planted and late-harvested crops result in lower potential yields. Comparisons of final yields vs. mid-season estimates in similar condition years are in some contrast to the notion. Read More...

October 26, 2019 - Author: Ken Morrison
The soy complex was dealing with multiple concerns Friday following several days of narrow-ranges and failure to advance through resistance. Having broken support, soybeans face potential for additional downside in the week ahead. Read More...

October 24, 2019 - Author: Ken Morrison
Given the rally cattle futures had since the September low combined with bullish sentiment, they may be priced for protection and vulnerable to the slightest negative news. Friday's Cattle on Feed report after the close may be such a catalyst. Read More...

October 23, 2019 - Author: Ken Morrison
It's interesting and may be useful to consider past price ranges and distribution of prices when setting targets for marketing and hedging decisions. Read More...

October 22, 2019 - Author: Ken Morrison
Seven market days since the announcement a mega trade deal may be in the works with China allows enough time for the market to have rendered a collective judgment on the prospects. We review the past 7 market days and what prices may be telling us. Read More...

October 21, 2019 - Author: Ken Morrison
Using USDA's most recent global outlook for the 3 main proteins, they tell us much about the shift in production and global trade patterns with implications extending to grain and soy. Read More...

October 19, 2019 - Author: Ken Morrison
Despite China returning to the U.S. soybean market this fall, export sales of soybeans lag the pace 6 weeks into the crop year not seen since 2008. Recent improvement in sales to non-China destinations is encouraging but more is needed. Read More...

October 17, 2019 - Author: Ken Morrison
Staying with yesterday's theme of in-depth chart analysis, I review 4 classes of wheat with thoughts on short and longer-range price parameters. Read More...

October 16, 2019 - Author: Ken Morrison
I do something not done in awhile, providing a longer-term outlook for corn and soybean price trends. Read More...

October 15, 2019 - Author: Ken Morrison
Today's edition reviews the momentum in a number of markets and highlights the importance of the 200-day moving average. Read More...

October 14, 2019 - Author: Ken Morrison
USDA's semi-annual update on global protein supply and demand is not well suited for the magnitude of changes occurring in global proteins triggered by China's ASF outbreak. Read More...

October 12, 2019 - Author: Ken Morrison
President Trump announced China will ramp-up purchases of U.S. Ag to $40-$50 billion annually within 2 years, a level that seems unrealistic on many measures. Acknowledging terms of the deal have yet to be put on paper, it's unlikely China will agree to formalize that within the timeframe or value as presented. Read More...

October 10, 2019 - Author: Ken Morrison
USDA took the knife to corn demand off-setting much of the surprise from the September 30 stocks report. The revisions in demand were warranted supported by widely known information. Read More...

October 9, 2019 - Author: Ken Morrison
Less than 3 weeks following the attack on Saudi's oil processing facilities, attention in oil has turned from supplies at risk to slowing demand amid a sluggish economy. Read More...

October 8, 2019 - Author: Ken Morrison
Shrugging off early anxieties over the rising U.S.-China tensions in advance of Thursday's trade talks, grain latched onto the pending arrival of heavy snow and freezing temperatures in the Upper Midwest. Read More...

October 7, 2019 - Author: Ken Morrison
In advance of the USDA report on Thursday , pre-report estimates on production are wide-ranging but the consensus expects both corn and soybean production to be lower in comparison to the September estimate. Read More...

October 5, 2019 - Author: Ken Morrison
EPA announced their how they intend to adjust biofuel mandates in 2020 signaling more exemptions are likely. The final rules may be subject to adjustment following a public comment period but it sets a foundation of corn for ethanol use. Read More...

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