September 16, 2019 - Author: Ken Morrison
Reactions in U.S. and South America to China's return to the U.S. soybean market has re-established competition. On another front, net revenue for 2020 corn and soybeans show indifference at this early stage. Read More...

September 14, 2019 - Author: Ken Morrison
Yemen-rebel attacks on the world's largest oil processing facility located in Saudi Arabia will put a geopolitical risk-premium bid back in oil and remove any possibility of easing sanctions on Iranian oil. Read More...

September 12, 2019 - Author: Ken Morrison
The tone was set before the USDA report as efforts by U.S. and China attempt to set a positive foundation for the October meeting. Credible reports indicate China crushers have been granted tariff exemptions to purchase a modest volume of U.S. soybeans. Read More...

September 11, 2019 - Author: Ken Morrison
Changes in crop condition from month to month has shown to be highly correlated to the direction of change in yields in USDA's September report. With a number of variables and wide range of estimates, the possibility of surprise on Thursday may be the sure bet. Read More...

September 10, 2019 - Author: Ken Morrison
Markets with sentiment at extremes are vulnerable to the slightest headline that could trigger rallies off bearish sentiment and pullbacks when sentiment is extremely bullish. Today's price action provided good examples. Read More...

September 9, 2019 - Author: Ken Morrison
China's hog and pork prices have begun to reflect the severity of the pork supply deficit but are beginning to ration demand. Meanwhile, hog and pork prices outside China have hardly budged. Read More...

September 8, 2019 - Author: Ken Morrison
Corn futures approach the next USDA report with numerous fundamental and technical similarities to past years at this time. Uncertainty over the prospects for demand may be overshadowing supply concerns as we go forward. Read More...

September 5, 2019 - Author: Ken Morrison
Today marked the 424th day since the U.S. and China first implemented simultaneous tariffs. Over $500 billion in combined product values now subject to tariffs with more scheduled, the U.S. and China plan meeting #14 in early October in hopes of progress. . Read More...

September 4, 2019 - Author: Ken Morrison
Allendale released results of their producer surveys that covered 29 states and over 80% of the U.S. corn and soybean production area. It plus other surveys now provide a useful preview for next week's update from USDA. Read More...

September 3, 2019 - Author: Ken Morrison
The bears were in control to begin the new month triggered by new currency controls in Argentina and record corn exports from Brazil. Read More...

August 31, 2019 - Author: Ken Morrison
U.S. wheat classes each have unique fundamentals that are establishing intra-market spreads and influencing individual price trends. Read More...

August 24, 2019 - Author: Ken Morrison
China announced retaliatory tariffs as they had promised 3 weeks ago that triggered a tweet-storm from President Trump followed by more tariffs on China Friday afternoon. Read More...

August 22, 2019 - Author: Ken Morrison
Updating corn and soybean export sales heading into harvest indicates a troublesome trend as alternative global supplies provide stiff competition for the U.S. Read More...

August 21, 2019 - Author: Ken Morrison
The state of the global economy seems to run the full gamut from recession to modest growth. The Federal Reserve is trying to walk the tight rope in search of 'Goldilocks' benchmark interest rates, not too accomodative but not too tight. Read More...

August 20, 2019 - Author: Ken Morrison
Poet, the single-largest producer of corn-based ethanol, announced it will close 1 location and reduce capacity at others in response to EPA's August 9 waivers to 31 refiners. Moments later newswire stories recapped an Oval Office meeting intended to be on U.S.-China trade but became a free-for-all discussion how to address corn producer's ire over EPA's latest policy move. Read More...

August 19, 2019 - Author: Ken Morrison
Growing degree units accumulated throughout the growing season is an important variable that will have bearing on harvested acreage, yields, and grain quality. Given the late planting season, the fate of significant acreage hangs in the balance. Read More...

August 17, 2019 - Author: Ken Morrison
Senator Grassley of Iowa, ethanol's most ardent supporter, had a few choice words for EPA's decision to issue waivers to 31 small oil refiners, sending the total to 85 waivers granted since the beginning of 2016. Read More...

August 15, 2019 - Author: Ken Morrison
By comparison to the first 3 days this week, markets settled into a low volume, narrow range today. Read More...

August 14, 2019 - Author: Ken Morrison
There continues to be widespread dispute and skepticism USDA's producer-based survey of acreage and yields accurately represent the nation's crops. Can 20,000 producers providing input to USDA really be off by so much? Read More...

August 13, 2019 - Author: Ken Morrison
This week has seen some significant changes in crop and livestock prices as the market responds to unexpected changes in the fundamentals. Read More...

August 12, 2019 - Author: Ken Morrison
Corn acreage and yield revisions were beyond consensus expectations setting the stage for corn supplies that could end the crop year above 2 billion bushels for the 4th consecutive year. Given crop progress is well behind normal, uncertainty will remain a factor for the next 2-3 months. Read More...

August 11, 2019 - Author: Ken Morrison
The extremely wide range of pre-report guesses for U.S. corn imply an equally wide range of possible price responses. I discuss the price implications of those ranges. Read More...

August 8, 2019 - Author: Ken Morrison
USDA's Ag Attache in Beijing has consistently forecast lower soybean imports for China than USDA's most recent 3 monthly forecasts. Actual imports have given credibility to the Beijing forecast and I expect USDA will revise their forecast lower Monday to narrow the gap in the differing outlooks. Read More...

August 7, 2019 - Author: Ken Morrison
Pre-report analyst guesses have been submitted and reflect the wide range of uncertainty on crop acreage and harvest prospects. Read More...

August 6, 2019 - Author: Ken Morrison
Crop markets can hardly wait until USDA's August 12 update in hopes of some clarity on U.S. crop acreage and yields. Cyberspace and this space will soon be filled with a lot of guesses but I'll spare you at least one more day before discussing mine. Read More...

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