Sep 20, 2014
Home| Tools| Events| Blogs| Discussions Sign UpLogin

Cash Grain Insights

RSS By: Kevin McNew,

Kevin McNew is President of Grain Hedge and Geograin. McNew was raised on a farm in central Oklahoma and received his bachelor’s degree from Oklahoma State University, and master’s and Ph.D. degrees in Economics from North Carolina State University. For over a decade, he was a Professor of Economics at the University of Maryland and Montana State University, focusing on commodity markets. He has received numerous academic awards for his research and outreach work, and was (and still is) widely regarded for boiling down complex economic issues into easy-to-understand concepts for applied life.


Beans Catapult Higher Overnight

Feb 22, 2013

 Soybean futures eclipsed the $15 mark and traded as high as $15.16 on nearby March futures in the overnight session continuing to hold 20-cent gains. Wheat and corn prices followed, but were up only 3 cents a bushel.

The soybean market found new buying enthusiasm deliveries of about 7 million metric tons are held up at ports in Brazil. Chinese soy crushers boosted purchases from the U.S. this week on concern that a possible strike in Brazil by dock workers will disrupt shipping. Yesterday, USDA reported 130,000 MT sales of soybeans to unknown destinations. Some insiders are saying China has bought up to 500,000 MT of soybeans this week in private deals.

stop paying so much to trade

For corn, traders continue to look ahead to the spring corn crop. USDA on Thursday gave a surprisingly small corn plantings number at 96.5 million while many analysts expect acreage of 98 to 99 million. Even so , USDA’s normal weather expectation would build out next year’s ending stocks to around 2 billion bushels and push US average prices into the $4.80 area.  China’s feed mills bought at least 120,000 metric tons of corn from the U.S. this week, the first purchases this year.

In wheat, winter storm Q dropped 1.5 to 2.5 inches of precipitation in the last 48 hours across key growing areas of Oklahoma and Kansas. Export business seems to show signs of picking up. On Thursday USDA reported the private sale of 110,000 MT of SRW wheat to unknown  destinations.

Log In or Sign Up to comment


No comments have been posted, be the first one to comment.
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by|Site Map|Privacy Policy|Terms & Conditions