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...

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...

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...

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...

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...

Cyber-Monday for commodities picked up where Black Friday ended: weaker. Read More...

Commodities had their version of a Black Friday sale with most closing lower Friday, some sharply lower. Read More...

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...

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...

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...

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...

One month since the October cattle on feed report put cattle futures into a tailspin, pre-report estimates for feeder placements during October indicate a similar number as September, unusual as October placements are nearly always the largest of the year. Read More...

Consumer prices came in without a change vs. September providing a glimmer of hope higher interest rates have finally begun to have their desired effect. The knock-on effect to currencies moved some markets. Read More...

Managed-money funds were actively adjusting risk-positions in the week ending November 7. The biggest surprises were not in grain or the soy complex. Read More...

Last week kicked off the index-roll period for December contracts. For live cattle, it coincides with a period managed-money funds have been consistent sellers. Selling pressure from both contributed to the decline in cattle futures. Read More...

Contrary to expectations, there were some surprises in today's USDA monthly update. Read More...

Pre-report estimates from analysts indicate insignificant revisions should be the norm in Thursday's USDA report. Read More...

Gaps in charts are not common but, when they occur, history shows they follow a predictable pattern. Read More...

Given total U.S. sales of soybeans for export are down 30% year-over-year, it's remarkable shipments to date are nearly the same as a year ago. We're at a loss to explain the contrast but the pace of sales must improve soon if they are to achieve the full-year forecast. Read More...

I take an in-depth look at the pace of corn sales to Mexico. Impressive both in terms of record volume at this time of year and in proportion of all U.S. sales, it may be signaling another important message. Read More...

We take a periodic look at soybeans, corn, and cotton sales to date with comparisons to full-year forecasts and past year's volume at this time. Read More...

Soy oil failed to hold support at Tuesday's close perhaps reacting negatively to soy oil's loss of market share for August feedstock used in biofuels. This afternoon's September crush report was inline on crush and soy oil inventory but points to revisions USDA will need to make in the November forecast. Read More...

There were plenty of examples of weak markets indicating the focus may have been on closing out poorly performing positions before turning the calendar. Read More...

Hard red winter wheat reversed course following early weakness to outperform SRW. As first-notice for delivery vs. November soybeans contract nears, we can't recall when the F/X spread was ever this wide. Read More...

You've probably heard export demand for soymeal has been quite strong. But you may be surprised funds in soy meal have been dominating the price action the past 30 days , first to the downside and the strong rally since. Read More...

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