Dec 4 Morning Ag Commentary

by Michael Niemiec

Wheat prices overnight are up roughly 1 cent in the SRW Wheat, up 3 in HRW, and up 1 for HRS; Corn is up 1 cent; Soybeans up 6; Soymeal up $1.50, and; Soyoil up 15 points.

Chinese Ag futures (May) settled up 68 yuan in Soybeans, down 1 in Corn, unchanged in Soymeal, up 36 in Soyoil, and up 56 in Palm Oil.

The Malaysian Palm Oil market was down 11 ringgit at 2,733 (basis February) on weaker export forecasts.

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 319 lots; Soyoil 658; Corn 129; HRW Wheat 11; Oats 10; SRW Wheat ZERO, and; HRS Wheat 65.

Preliminary Open Interest saw SRW Wheat futures up roughly 2,700 contracts; HRW Wheat up 1,100; Corn down 2,300; Soybeans up 4,100 contracts; Soymeal up 4,100 lots, and; Soyoil up 3,500.

Registrations total ZERO contracts for SRW Wheat; 10 Oats; Corn 216; Soybeans 1,469; Soyoil 2,584 lots; Soymeal 710; Rice 477; HRW Wheat 11, and; HRS Wheat 954 contracts.

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2019-12-04T14:40:11+00:00 December 4th, 2019|