by Steve Freed

Grains are mixed. SK is up 4 cents and near 16.73. Overnight high was 16.81. SMK is near 461.9. BOK is near 73.28. CK is up 15 cents and near 7.63. Overnight high was 7.72. WK is up 75 cents and near 12.09. Synthetics were trading near 12.58 on Thursday. KWK is up 75 cents and near 12.25. MWK is up 60 cents and near 11.78. US stocks are lower. US Dollar is higher. Crude is higher and near $106. Gold, silver, copper, coffee are higher. Cocoa, sugar and cotton are lower. Dalian soybean, soymeal, palmoil, and soyoil are lower. Corn is higher.

Ukraine invasion continues. Russia capture of Ukraine nuclear power plant adds to risk. Ukraine said reactor explosion would be 10 times worse than Chernobyl.

NATO meeting on Article 4 of NATO treaty with Russian troops 20 km from Estoria border  

Problems with Ukraine planting 2022 crops; logistics, fuel, seed, fertilizer, spare parts and labor

The Biden administration is considering biofuel waivers to ease food inflation

For the first time World/US business TV is talking about food inflation especially wheat

WH is near 13.40 and above all time high of 13.34 in 2008. KWK near 12.25 vs 2008 13.84 high

US south plains HRW weather warm and dry. Delta, TN and OH valley wet.

Matif wheat up 25 euros. French wheat $430, Baltic $445, Germany $446. US SRW $468

US wheat export commit down 23 pct vs ly. Trade est US carryout 628 mil bu vs USDA 648

US soybean export commit down 16 pct ly. New crop commit is record high for this week.

Argentina rated soybean crop 25 pct G/E and crop 42 mmt versus USDA 45

USDA will need to decide either use CONAB Brazil soybean crop of 125 or trade est of 129

CK-CN spread +45 and record high. Barge freight higher. Cif corn higher. Pipeline needs corn

Matif corn higher. EU end users beginning to panic due to drop in corn supplies.

South Korea feed producers declared force majeure on deliveries due to no Ukraine imports

Dry C Brazil raising corn concern about 2nd corn crop outlook. Crop could be below 110 mmt

Chilling talk that World is one bad US crop from a disaster low grain and oilseed supply.  

The information conveyed by ADMIS or it’s affiliates to the audience is intended to be instructional and is not intended to direct marketing, hedging or pricing strategy or to guaranty or predict future events, including the pricing and pricing movements of commodities and commodity future contracts.

2022-03-04T14:57:16+00:00 March 4th, 2022|