by Michael Niemiec
Wheat prices overnight are up roughly 1 cent in the SRW Wheat, down 1 in HRW, and down 1 for HRS; Corn is up 1 cent; Soybeans up 4; Soymeal up $0.50, and; Soyoil up 10 points.
For the week, Winter Wheat prices were up roughly 32 cents for Soft Red Winter, up 14 in the Hard Red Winter, and up 2 for Hard Red Spring; Corn was up 3 cents; Soybeans down 21 cents; Soymeal down $9.00, and; Soyoil down 50 points (crushing margins were unch at $1.01—March, oil-share was up 1% at 34%).
For the month, Winter Wheat prices were up roughly 39 cents for Soft Red Winter, up 19 for Hard Red Winter, and down 30 for HRS; Corn was down 19 cents; Soybeans down 56; Soymeal down $14.00, and; Soyoil down 35 points (crushing margins were up 7 cents at $1.01, oil-share is up 1% at 34%).
For the year, Winter Wheat prices were up 44 cents for Soft Red Winter, down $0.50 for Hard Red Winter, and down 55 for Hard Red Spring; Corn is down 4 cents; Soybeans down 6; Soymeal down $16.00, and; Soyoil up 285 points (crushing margins are up cents at $0.96, oil-share is up 1% at 34%).
The South American weather forecast for Brazil in the 6 to 10 day outlook with good rainfall continuing in the north while south remains dry in the growing regions. Argentina’s 6 to 10 day outlook is mainly dry.
In deliveries, Soymeal totaled 260 lots; Soyoil 1,270; Corn ZERO; HRW Wheat 11; Oats ZERO; SRW Wheat ZERO, and; HRS Wheat 286.
Preliminary Open Interest saw SRW Wheat futures up roughly 6,500 contracts; HRW Wheat up 4,700; Corn up 6,500; Soybeans up 11,000 contracts; Soymeal up 5,800 lots, and; Soyoil down 955.
China expects the U.S. to roll back some tariffs on its exports as part of a trade deal, an official newspaper said Monday, reiterating Beijing’s insistence that President Donald Trump’s administration be “flexible” and “reasonable.
For the week ended November 21st, U.S. All Wheat sales are running 9% ahead of a year ago, shipments up 27% with the USDA forecasting a 2% increase on the year
—By class, HRW wheat sales are up 38%, shipments 66% ahead with a USDA forecast of a 15% increase
—SRW sales 8% ahead, shipments 23% ahead with a 22% decline seen
—HRS sales 6% behind, shipments up 12% with a 1% decrease being forecasted
U.S. Corn sales are running 45% behind a year ago, shipments 57% behind with the USDA forecasting a 10% decline.
U.S. Soybean sales are running 10% ahead of a year ago, shipments 24% ahead with the USDA forecasting a 2% increase on the year
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