Commodity Digest

Concise weekly economic analysis and purchasing guidance for corn, wheat (by class), soybean oil, soybean meal, and soybeans. This report exclusively details the most important factors, domestic and foreign, driving price changes. Report includes individual commodity procurement recommendations, 18-month forward futures price forecast ranges, and supply/demand tables including two-year outlooks. Use the economic data and analysis for your strategic decision making.

  • Specific and targeted purchasing advice
  • Bull and Bear market factors
  • 18-month futures price forecast ranges
  • Supply/demand balance tables with forecasts
  • Inclusion for Doane’s spot analysis of periodic releases of market moving reports including major USDA and Statistics Canada updates

Commodity Digest November 15, 2019

Date : 15th Nov 2019

In this issue, corn export sales pace remains depressed. No concrete news on the China/U.S. trade negotiations. Record NOPA crush supports Doane’s larger crush forecast. For soymeal, strong weekly sales, shipments reported by FAS weekly data. Uncertainty remains as to how many U.S. winter wheat acres remain unplanted.  

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Commodity Digest November 8, 2019

Date : 09th Nov 2019

In this issue, USDA lowers corn yield and production forecasts. Little change to the soybean production outlooks. Palm oil market remained supportive ahead of October MPOB data. Nov. WASDE changes offsetting for soybean meal balance sheet. The cut to U.S. spring wheat output tops Doane’s expectations.

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Commodity Digest 11-01-2019

Date : 01st Nov 2019

In this issue, ethanol and corn export trends remain demand bearish. There are hints of progress on resolving the China/US trade dispute. Rallying palm oil prices buoy soybean oil futures. NASS pegs 2018/19 soybean meal carryout above Doane’s expectations at 402,000 tons. Initial U.S. winter wheat conditions top 10-year average.  

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Commodity Digest October 25, 2019

Date : 25th Oct 2019

In this issue, on Friday, there was a report of a high-level phone call between US and China negotiators indicating progress to agreement. Corn xport demand is historically bad. China allows new tariff-free imports of 10 mmt of US soybeans through next March. Palm oil futures hit 16-month highs this week on the BMD. Late-week selling pushes futures lower for the week. U.S. spring wheat harvest drags on while winter wheat planting pushes ahead. 

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Commodity Digest 10-18-2019

Date : 18th Oct 2019

In this issue, heavy snows and winds in the northern Plains likely resulted in corn production losses. Reality set in that Trump’s claims for huge Chinese ag product buying greatly exaggerated. Technical buying pushes soyoil futures higher. Board crush margins remain depressed at nearly half of 2018 levels. Quality and quantity concerns linger for North American spring wheat crops.  

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Commodity Digest October 11, 2019

Date : 11th Oct 2019

In this issue, blizzard and freezes threatening corn and soybean production. Trump announces trade negotiation progress with China on Friday afternoon. Oct. WASDE, Sep. MPOB changes mostly as expected for soyoil. NOPA to issue member crush, stocks data 10/15. USDA cuts U.S. wheat demand via exports, lower feed and residual.  

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Commodity Digest 10-4-2019

Date : 04th Oct 2019

In this issue, corn ending stocks plunge by over 300 million bushels from expectations. 2018/19 soybean ending stocks “only” 913 million bushels. Soyoil stocks fall below expectations in August. Soymeal futures follow soybeans higher while ASF worries linger. Sep 1 wheat stocks top expectations, down slightly from 2018. 

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Commodity Digest 9-27-2019

Date : 27th Sep 2019

In this issue, corn crop avoids frost losses during September. China has made major soybean buys the past two weeks. Doane looking for slightly lower crush, declining soyoil stocks in August. ASF cases continue to spread in Asia. Demand for U.S. wheat needs to improve quickly.  

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Commodity Digest 9-20-2019

Date : 20th Sep 2019

In this issue, NWS forecast calls for warm October, likely meaning an extended growing season. U.S./China trade talks didn’t end as well as hoped. August crush and weekly export sales come in stronger than expected. Aug. NOPA crush raises crush, soyoil supply ideas. ASF continues to spread throughout Asia. Wet conditions weigh on North American spring wheat quality. 

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Commodity Digest September 13, 2019

Date : 13th Sep 2019

In this issue, corn yield and production lowered, but offset in supply/demand by lower use forecasts. China and the US softening rhetoric over the trade war. China in the US market for large soybean buys this week. Sep WASDE trims projected soyoil stocks. ASF cases confirmed in Philippines as disease spread in SE Asia. World wheat production changes mostly as expected, but likely to continue.

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