Updates Bulletins

Provide USDA Updates

Weekly Review and Outloook for December 23, 2019

Date : 23rd Dec 2019

The next issue of the Weekly Review and Outlook will be published on January 5, 2020 due to the holiday season. In this issue, last Monday, the corn market led the sustained crop market rally in response to the previous week’s news that the U.S. and China had essentially reached a Phase 1 trade agreement. However, the grain and soy markets stalled at that point and spent the balance of the week consolidating the prior gains. Persistently good news associated with potential Chinese buying of U.S. pork provided sustained support for hog futures, with the nearby February contract ending the week having pushed above 40-day moving average resistance. Still, the market needs to see sustained gains likely to justify the sizable premiums already built into CME futures. The cheese market continued losing seasonal ground after grocers and gift packagers finished their purchases for the year-end holiday season.  

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NOPA December 16, 2019

Date : 16th Dec 2019

NOPA released its November 2019 monthly crush report on December 16, 2019. NOPA reported that members crushed 164.9 million bushels of soybeans in November. These crushings were below the low end of all published trade guesses of 168.6 to 178.0 million bushels. The average forecast was for 172.0 million bushels, placing the results down 7.1 million from expectations. The crush came in a little below the record for November of 167.0 million bushels in 2018. Members produced 1.901 billion lbs. of soybean oil in the month, versus 2.030 billion lbs. produced in October and compared to 1.943 billion lbs. produced last year.

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Weekly Review and Outlook December 16, 2019

Date : 16th Dec 2019

In this issue, several of the markets saw futures rise at the end of the week as rumors and then news of a possible signed Phase 1 agreement in January was announced. However, soybean meal futures couldn’t sustain the previous week’s rebound and retested late-November lows on Thursday. Friday’s news-driven bounce wasn’t very encouraging either. Beef prices tumbled last week, but cash cattle again traded in the $119 area occupied over the past few weeks. That news, along with hopes for fresh export demand amidst the resolution of several trade agreements, powered a big Friday futures rally. Download

Reaction to the December WASDE Report

Date : 10th Dec 2019

Ahead of USDA's reports, corn futures were trading steady to fractionally higher, soybeans were 2 to 3 cents higher, SRW wheat futures were 1 to 2 cents lower, HRW and HRS futures were steady to a penny higher and cotton futures were 40 to 45 points higher. After the reports, corn and soybean futures are trading narrowly mixed, wheat futures are steady to 3 cents higher, and cotton futures are still posting gains in the 40 to 45-point area.

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Weekly Review and Outlook for December 9, 2019

Date : 09th Dec 2019

In this issue, weakness in corn and wheat markets spills to oats. Hog futures boosted in hopes of a China/US trade deal. The USDA’s monthly Fats & Oils report indicated record soybean crushing activity during October. That news, plus improved Chinese buying and renewed hopes for a short-term Phase 1 trade deal, seemed to power significant gains. The equity markets tumbled early last week amidst the rocky NATO summit and impeachment hearings in the House of Representatives. But the Dow bounced strongly from technical support on Tuesday, then followed through to the upside after Friday’s job numbers topped expectations. A move to fresh highs can’t be ruled out.

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Canadian Crop Production Report December 2019

Date : 06th Dec 2019

In this issue, Statistics Canada released its December Crop Production report this morning. Its production estimate for wheat at 32.348 million tonnes was down 0.4% from its September forecast at 32.491 million tonnes. Statistics Canada downwardly revised the canola production estimate to 18.649 million tonnes versus its September forecast at 19.358 million tonnes. The December canola report is the final one ahead of possible revisions following the report based on ending stocks the following autumn. It is rare for the December estimate to decline from the previous forecast. By our count, since 2000, it is only the third time in 20 years that the December canola production estimate decreased from the previous forecast.

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Weekly Review Outlook November 25 2019

Date : 25th Nov 2019

In this issue, the corn market stabilized last week in response to signs of improving export demand. Pessimism about the ability of the U.S. and China to reach a Phase 1 trade deal in the near future seemed to drive soybeans lower again last week. Cash cattle prices continued their advance last week, with most animals reportedly changing hands around $116/cwt. With the recent surge to record highs having at least partially incorporated fresh optimism about the intermediate-term economic outlook, the major equity indices turned lower last Tuesday. However, Friday’s strong indications on domestic business activity powered a firm weekly close.  

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Weekly Review and Outlook for November 18, 2019

Date : 18th Nov 2019

In this issue, corn, soybean, and wheat trends shift toward bearish in the short-term. The corn market remained weak during much of last week. U.S. soybean sales to China have accelerated lately. Cotton futures remained within a tight range last week and much more! 

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NOPA Report November 15, 2019

Date : 15th Nov 2019

NOPA reported that members crushed a new record of 175.4 million bushels of soybeans in October. The October results were slightly above the high end of all published trade guesses. Members produced 2.030 billion lbs. of soybean oil in the month, versus 1.809 billion lbs. produced in September and above 2.017 billion lbs. produced last year. The report pegged the monthly oil yield at 11.59 lbs. per bushel, which was off 0.29 lbs. per bushel from 11.86 lbs. in September. NOPA members produced 4.115 million tons of soybean meal. This calculates to a meal yield of 46.92 lbs. per bushel, up 0.04 lbs. from September. Finally, members’ soybean oil stocks on hand at the end of October still slipped nearly 19 million lbs. from September as implied consumption offset larger supplies.

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Weekly Review and Outlook for November 11, 2019

Date : 11th Nov 2019

In this issue, chart trend update shows that trends are mostly remained unchanged from last week. Many ag markets were affected by the WASDE Report released on Friday morning. Examples of this include: the Friday USDA reports provided belated support for corn before the weekend; and the U.S. and China apparently built momentum toward a partial trade agreement in late October and early November, which provided considerable support for soybean futures. But the market stalled when the USDA didn’t cut its crop estimate Friday.

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