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 8-16-2019

Date : 16th Aug 2019

In this issue, corn planted acres higher than expected. Pro Farmer Midwest Crop Tour next week will reveal key data that impact final yields. In isolation, the soybean WASDE was price friendly. NOPA crush a record for July at 168.1 million bushels. Doane raises soymeal supply outlook following July NOPA data. Doane raises wheat production ideas on larger yields, less abandonment. 

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Commodity Digest 8-9-2019

Date : 10th Aug 2019

In this issue, trade anticipating USDA to cut corn acreage and production forecasts on August 12. China suspends U.S. ag product imports in retaliation for planned imposition of tariffs on $300 billion of Chinese exports. Prices soar as China lifts vegetable oil import limitations. Chinese soybean demand to crush for meal and feed to pigs under pressure due to huge decimation of the Chinese pig population. Data from Russia suggesting its wheat crop harvest may come up somewhat short of expectations.  

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Commodity Digest 8-02-2019

Date : 02nd Aug 2019

In this issue, our acreage survey concludes with slight change to corn forecast from last week. Trump plans 10% tariffs on $300 billion of additional Chinese imports. June crush falls short of expectations. Meal follows beans lower on renewed tariffs. Global winter wheat harvest advances, spring wheat harvest approaches.

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Commodity Digest 7-26-2019

Date : 26th Jul 2019

In this issue, corn acreage forecast adjusted lower on initial indications from farmer planting survey. Soybean condition rating steady and low at 54% good to excellent. Futures rally as traders buy oil/sell meal. USDA to issue June industry crush, stocks data. Russian wheat crop appears set for further declines. U.S. winter wheat harvest enters final leg as spring wheat harvest awaits.  

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Commodity Digest 7-19-2019

Date : 19th Jul 2019

In this issue, June NOPA crush disappoints. Doane trims crush expectations, projects tighter soyoil stocks. China claims to have contained ASF, but doubt remains. U.S. winter wheat harvest surpasses halfway point. Corn condition rating and development progress remain far below normal. Soybean condition rating very low and crop vulnerable to this week’s heat.  

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Commodity Digest July 12, 2019

Date : 12th Jul 2019

In this issue, EPA proposes steady biodiesel volumes in 2021. Lower U.S. soybean crop ideas help bolster meal futures. U.S. winter wheat harvest nears halfway point, conditions improve. Weather trending hotter and drier than normal into the second half of July. USDA slashes 250 million soybean bushels from its new-crop ending stocks forecast.    

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Commodity Digest 6-28-2019

Date : 28th Jun 2019

In this issue, the USDA released their annual acreage and grain stocks reports today. Corn and soybean numbers were unexpected. Corn plantings exceeded expectations and soybean plantings were shockingly low. NASS crush and soyoil stocks are rescheduled for July 1. June 1 wheat stocks below expectations. China buys U.S. soybeans ahead of talks at G-20 Summit. 

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Commodity Digest 6-21-2019

Date : 22nd Jun 2019

In this issue, the race to the planting season "finish line" found corn only 92% planted on June 16. Soybean plantings just past 3/4 completed and complicated by more rains this week. The crush report disappoints bulls. Better rains improve spring wheat outlook, but rains slow winter wheat harvest. NOPA soybean meal yields rebound in May. 

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Commodity Digest 6-14-2019

Date : 15th Jun 2019

In this issue, large USDA forecast reduction for corn production caused many to be shocked. Soybean prices rally sharply in the face of fundamentally bearish USDA forecasts. Tuesday's WASDE Report added to U.S. soybean oil stocks. Soymean futures have more upside as beans push higher. More rain threatens winter wheat quality as farmers look to collect the U.S. crop. 

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Commodity Digest 6-7-2019

Date : 07th Jun 2019

In this issue, Doane makes major balance sheet revisions for corn due to the slow crop progress reports from USDA. Trade issues are still affecting soybean exports. Soyoil stocks rose just 25 million lbs. April census data points to larger soybean meal imports, and better than expected spring wheat ratings surprise the market. 

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