Today was a KEY day?

The most important perspective on today's trade must be viewed from the closing prices in relationship to pre-opening sentiment and expectations. Today was an emotionally-charged trading session that had the "outside" enhancer from the sharply

US Oil Pipeline Explosion

Crude oil jumped $4.50 per barrel at one point during the night session on reports of an explosion at a key US pipeline in Minnesota that carries crude oil from Canada to the US Midwest. One pipeline may have been damaged, but 3 others have been temporarily

Signs of a Top?

While there is a solid foundation of rising demand and the necessity for expanding acreage, there can also be no argument that the speculative investment community has helped to exaggerate price strength trends during the past several months. At some

Sunday night, 11-25-07

There is limited "news" to influence tonight's trade. South American weather remains fine, but also still lends itself to fueling the fears that the trade is so quickly willing to embrace. Argentina will be mostly dry this week, with rains

Argentine Dryness Concerns

Today is the first day where the weather forecasters are trying to fan the flames of fear regarding South American weather concerns. Their focus is on monthly precip totals during November for Argentina. Approximately 50% of the region has had less than

Happy Thanksgiving

Thanksgiving is one of the more precious holidays, as it encourages us to maybe evaluate our perspectives and realize that we have much for which to be thankful. Not all things that happen to us during the year are something to be thankful for, but in

Sunday Night Grain Outlook, 11-18-07

By Duane Lowry Sunday, November 18, 2007 OPENING CALL: Corn= steady-easier, Wheat= steady-easier, Soybeans= steady-easier Weather is similar to Friday and will be seen as bearish. South American weather and forecasts remain favorable. US Plains desire

Sunday Night Outlook

From here forward I will be providing a Sunday night grain outlook on the FarmAssist blog only. There aren't many places you can find a Sunday night grain outlook. Please share the source information with your friends. Thanks, Duane

When everything is bullish...

Not too long ago the soybean market rallied on South American jitters, when most past standards warranted no concern. Currently South American weather has been extremely favorable, but the market rallied anyway. Not too long ago the soybean market rallied

2008 Corn Yields...

Informa also indicated this morning that they would use a 2008 corn yield of 160 bpa nationally as their "starting point". If the trade were to really believe that, the real story here today would be that corn prices are too high and we need

Informa 2008 Acreage estimates

At 10:30 Informa released the following acreage estimates for 2008. All Wheat= 64.1 mil, up 350 thousand from their October estimate, up 4.4 mil from 2007 Corn= 88.9 mil, up 3.1 mil from October, down 4.7 mil from 2007. Soybeans= 68.1 mil, down 3.6 mil

Strange morning

No one seems to have a clear and distinct reason for the overnight strength, as even outside market explanations don't seem to fit. Thus we are up because...we are up. Informa will release their latest 2008 acreage predictions at 10:30 this morning

Sunday Night Outlook, 11-11-07

Crude Oil just opened weaker and is trading down 67 points 10 minutes into the trade. Right or wrong, grain traders seem unable to make any assessment at the present time without consulting the "outside" markets. South American weather is nearly

Weak Opening

At 9:40 am, Corn and soybean prices both opened much weaker than pre-opening calls suggested. This needs to also be viewed in the context that crude oil went from trading 50 lower to trading $1 higher at the opening. This was is a very weak set-up. The

USDA Report Figures

Production> Corn= 13.168 bil , vs 13.261 bil avg, range= 13.083-13.485, Oct USDA= 13.318 Beans= 2.594 bil , vs 2.606 bil avg, range= 2.573-2.662, Oct USDA= 2.598 Carryout> Corn= 1.897 bil , vs 1.932 bil avg, range= 1.562-2.050, Oct USDA= 1.997 Beans=

10:08 Update

Corn and soybean price action is firm, but volume seems quite light. We seem to be rallying more on a lack of selling interest in front of tomorrow's report than excited new buying interest. Wheat is suffering from reaction to the disappointing export

Export Sales Data

7:35 am, 11-8-07 Wheat= 14.6 tmt, virtually nothing compared to estimates of 600-900 tmt. "Unknown" cancellations totalled 225 tmt, Egypt cancelled 57 tmt, and Morocco cancelled 49 tmt. New business was mostly small and routine. Corn= 1.505

Pre-Report Estimates

At 7:12 am, 11-8-07 *Tomorrow morning USDA will issue monthly S&D and production estimates. Production> Corn= 13.261 bil avg, range= 13.083-13.485, Oct USDA= 13.318 Beans= 2.606 bil avg, range= 2.573-2.662, Oct USDA= 2.598 Carryout> Corn= 1.932