December 23, 2023 - Author: Ken Morrison
Today is the final edition of Morrison On The Markets newsletter. It's been my pleasure to share my market-experience and views about the market these 16 years. Happy Holidays and here's wishing you the best of fortune and good health in 2024 and well beyond. Read More...

December 21, 2023 - Author: Ken Morrison
I take this opportunity to review the Fearless Forecasts for 2023 of nearly 1 year ago. Read More...

December 20, 2023 - Author: Ken Morrison
March Corn set a new life-of-contract low and low-close continuing to drift lower on lack of interest. Soybeans are no longer responding to downward revisions in Brazil's soy production. Read More...

December 19, 2023 - Author: Ken Morrison
Those interested in livestock markets may need to stick around Friday afternoon for the Cattle on Feed and Quarterly Hogs & Pigs report. The COF report has a 3-month string of negative surprises going. Read More...

December 18, 2023 - Author: Ken Morrison
One common thread among most markets is how they lost momentum and/or closed at their weakest level of the day at or near the close. Read More...

December 17, 2023 - Author: Ken Morrison
Corn sales for export are solidly in line with progress toward the full-year forecast thanks in large part to Mexico. But recent history indicates the proportion of sales to Mexico will slow the remainder of the crop year. Read More...

December 14,2023 - Author: Ken Morrison
Weekly soybean export sales were respectable and met expectations but they fell further behind the pace needed to achieve USDA's full-year forecast. I explain why. Read More...

December 13,2023 - Author: Ken Morrison
Price-volatility in wheat the past 30 days provided plenty of opportunity, in both directions, for market participants. Based on the sharp decline in open interest, many opted to close out positions. Read More...

December 12, 2023 - Author: Ken Morrison
Energy and crude oil are weak but so are the vast majority of other commodities as evidence by a major commodity index setting a 2-year low today. Read More...

December 11, 2023 - Author: Ken Morrison
Recent weekly hog slaughter has topped all weeks for 2023 enabled in part by increasing weights. Slaughter numbers point toward an upward revision in March-May farrowings when USDA reports the quarterly on December 22. Read More...

December 10, 2023 - Author: Ken Morrison
Positive demand revisions for wheat and corn were not enough to impress prices. Read More...

December 7, 2023 - Author: Ken Morrison
With soft red winter wheat sales for export now exceeding USDA's full-year forecast, expect an upward revision of 20-25 million bushels. But they may partially offset by lowering export forecasts for other wheat classes. Read More...

December 6,2023 - Author: Ken Morrison
Will this finally be the time when managed-money funds run for short-covering in Wheat? The clues are contained within. Read More...

December 5, 2023 - Author: Ken Morrison
Slowing slaughter, larger placements, record carcass weights, and relatively poor demand have all contributed to weakness for cattle and feeders. Read More...

December 4, 2023 - Author: Ken Morrison
Total wheat export sales are 70% of the full-year forecast with 6 months remaining in the crop year. The accelerated pace is attributable to China; U.S. SRW sales to China the largest at this time since crop year ending 2014. Read More...

December 2, 2023 - Author: Ken Morrison
The drought in the area of the Panama Canal and the resulting measures may be a root cause of surging dry-bulk vessel rates. It's certainly caught global importers by surprise and likely to change some grain and oilseed flows. Read More...

November 30, 2023 - Author: Ken Morrison
Demand is back in the spotlight as grain and soybean export sales each exceeded expectations. Crush reports for October after Friday's close will provide more demand guidance. Read More...

November 29, 2023 - Author: Ken Morrison
One of the more common marketing mistakes is associated with the pricing of basis-contracts. Understanding seasonal price trends near contract-expiry periods can improve results. Read More...

November 28, 2023 - Author: Ken Morrison
Drought issues and implications extend well beyond North and South America with low-water reservoirs in Panama changing the course of vessels to Asia. Read More...

November 27, 2023 - Author: Ken Morrison
Cyber-Monday for commodities picked up where Black Friday ended: weaker. Read More...

November 25, 2023 - Author: Ken Morrison
Commodities had their version of a Black Friday sale with most closing lower Friday, some sharply lower. Read More...

November 21, 2023 - Author: Ken Morrison
Although forward prices for 2024 harvest are considerably lower vs. a year ago, variable expenses are also lower offsetting much of the impact from lower prices. Read More...

November 20, 2023 - Author: Ken Morrison
The response of cattle futures to Friday afternoon's cattle on feed report is a good example how different sources of pre-report expectations can influence market-response. Read More...

November 18, 2023 - Author: Ken Morrison
Money managers have spent much of the past 2+ months paring back exposure to commodities; measured in contracts, net-long of the 12 major markets has been cut 50%. Read More...

November 16, 2023 - Author: Ken Morrison
The record week of export sales of soybeans helped close the gap toward the pace needed to achieve the full-year forecast but it gets harder with Brazil harvest and very aggressive offers that will accompany it. Read More...

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