News and Blog
Morning Thoughts – May 17
Grains - Soybean export premiums are firming around the world. In the case of South America, this is largely due to a lack of farmer selling. In Brazil, the BRL continues to strengthen and soybeans in real terms just don’t look attractive enough to sell at the...
Morning Thoughts – May 15
Livestock - No major new information to pass along this morning. We’re still digesting the Chinese reopening news. While obviously this is good news for the US industry over the long term, there are still some hurdles to clear in the short term. One major sticking...
Morning Thoughts – May 12
Livestock - A lot of headlines this morning saying China will now allow US beef imports following a trade deal. I once again do want to point out that China reopened their market to US beef officially a few months ago, it's just that neither side has agreed on...
Morning Thoughts – May 10
Livestock - Another wild ride in cattle futures yesterday. After initially pushing sharply higher, cattle futures broke sharply during the session positing a daily reversal on the spot LCM chart. I fielded a lot of questions asking why the reversal yesterday, and to...
Morning Thoughts – May 8
Energies - I’ve noted for a while now that the market has pretty much baked in an extension of the OPEC production cuts beyond this month and I wondered aloud how OPEC was hoping to stir up added price gains considering this was priced in. This morning we see the...
Morning Thoughts – May 4
Financials - I’m hard pressed to find much substance in yesterday’s FOMC statement. It seemed they walked a fine line and avoided sounding either especially dovish or hawkish. It is interesting to note that the Fed points out that economic activity has slowed, but...
Morning Thoughts – May 3
Energies - Oil futures dropped midday yesterday and this seemed to be related to news that Libyan rivals have agreed to set up a power-sharing “Presidential Council.” The two sides agreed to dissolve their militias and fight terrorist groups inside Libya. Obviously...
Morning Thoughts – May 2
Grains - Loads of data from NASS yesterday afternoon… First off, the monthly Grain Crushing report showed a much smaller than expected corn grind for ethanol than I had been penciling. NASS is reporting a March corn grind of roughly 460 mil bu, compared to my...
Morning Thoughts – Apr 28
Grains - We’ve obviously got cold temps ahead in the Plains this weekend but yesterday morning’s lows were also cold and K-State issued a report yesterday noting that this certainly had the potential to harm wheat. The report specifically noted portions of southwest,...
Morning Thoughts – Apr 27
Livestock - The NAFTA talk yesterday sure did a number on livestock markets. I’m not sure if anyone even paid attention to the FCE or other cash talk because the action was all driven by fears of NAFTA termination. In cattle, this of course was a bullish feature due...
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