News and Blog

Crops - We’re just a few days away from the Crop Production & WASDE reports, and that will be our primary focus for the remainder of the week.  This morning I want to briefly discuss prospects for winter wheat production.  Unfortunately, we still don’t have much...

Livestock - We just saw a very active week of cash cattle activity, and I guess that’s what a big rally in prices will do for you.  The range for cash trade last week was probably 135-138 and 215-220, with 136 and 218 as averages.  Basis did narrow slightly.  Packer...

Livestock Cash cattle absolutely screamed higher yesterday and took the futures board along with it.  This is the problem I mentioned yesterday…you have a cash market that just doesn’t want to break 130 to the downside and a deliverable futures contract trading well...

Financials - A friend brought to my attention the spec (non-commercial) positioning in the Euro yesterday, and I’ve attached a 10-year history below.  It is catching some attention because as you can see the net long position in the Euro is near the highest it has...

Crops - Yesterday’s session might have been one of the more boring I’ve seen in quite a while.  For the time being, I don’t see any reason to expect this boring price action to change.  We have June option expiration tomorrow.  In tomorrow’s comments I’ll include...

Crops - I mentioned yesterday I thought that some might be looking at early assumptions on Prevent Plant area and scaling back on those figures a bit.  This seems reasonable considering the Northern Plains states typically lead the way in terms of PP area and those...

Grains - While reviewing yesterday’s export inspections data, one thing stood out to me.  Over the past several weeks/months, we’ve continued to see ongoing and consistent wheat shipments to China.  The chart below shows that MYTD export shipments are the strongest...

Grains - Not sure what to say after yesterday’s session.  We knew the market would be under pressure following the news from Brazil but I’ll have to admit I didn’t expect a 30 cent decline yesterday.  There was big pricing in Brazil yesterday, but estimates vary...