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...

October 3, 2019 - Author: Ken Morrison
We use updated exports to examine revisions USDA may make on October 10. Read More...

October 2, 2019 - Author: Ken Morrison
U.S. pork supply is expected to continue 5-6% above year ago levels for the next few weeks but farrowing intentions for the next six months indicate 5-years of uninterrupted growth may be ending. Read More...

October 1, 2019 - Author: Ken Morrison
As analysts and market participants revise their forecasts in advance of USDA's October 10 forecast, it's important to consider how USDA has handled past years when ending stocks implied variances in production or feed and residual components. Read More...

September 30, 2019 - Author: Ken Morrison
Two surprises in USDA's stocks reports resulting in lower-than-expected September 1 stocks of corn and soybeans was a catalyst for rallies and narrowing spreads. Read More...

September 28, 2019 - Author: Ken Morrison
Expectations for substantial progress in U.S.-China trade talks within the next 30 days are skeptical but a large majority expect an eventual trade deal will be fundamentally bullish for U.S. agriculture. Price reactions, here and abroad, to recent soybean trade to China is instructive to these questions. Read More...

September 26, 2019 - Author: Ken Morrison
Monday is the Quarterly grain and soybean stocks report with expectations corn supply will be the largest since 1988. But I have my eye on the proportion held on-farm by producers where we expect the largest stocks since 1993. Read More...

September 21, 2019 - Author: Ken Morrison
The China delegation's decision to return to China early, canceling plans to visit U.S. farms that had been billed as a goodwill gesture, was taken as negative sign of trade talks at the end of the two-day meeting. Read More...

September 19, 2019 - Author: Ken Morrison
Two weeks into the new crop year, cumulative export sales of corn and soybeans are multi-year lows. It's too early to discount the possibility of meeting USDA full-year export forecasts but it's a reminder of the keen competition and record exportable supplies held by U.S. competitors. Read More...

September 18, 2019 - Author: Ken Morrison
Certain markets were able to rally above their resistance while others made strong efforts but failed to break into new territory. We see momentum improving in a few select markets. Read More...

September 17, 2019 - Author: Ken Morrison
Crop insurance price for hard red winter wheat is set for the 2020 crop, the lowest level since 2006, and wheat's price relative to alternative crops indicates a new record-low U.S. hard red winter wheat acreage is certainly possible. Read More...

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...

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