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01-25-2013 05:40 AM - edited 01-25-2013 02:26 PM
At the close:
The March futures corn contract setted 3 cents lower at $7.20. The March soybean futures contract finished 5 cents lower at $14.41. March wheat futures ended 8 cents higher at $7.76 per bushel. The March soyoil futures contract closed $0.01 lower at $52.10. The March soymeal futures is trading $1.70 per short ton higher at $416.40.
In the outside markets, the NYMEX crude oil is $0.08 per barrel higher, the dollar is lower and the Dow Jones Industrials are 48 points higher.
Wheat and beans are higher, while corn is still lower.
One analyst is saying, "It is a real snoozer for me here today. We got very little in the way of news, but wheat areas in the Great Plains have no rain in the forecast and the wheat export sales were the best of the bunch. So, that is the market that is running. Still lots of questions about the rain potential for Argentina next week, the forecasts I see are mostly dry. Northern Brazil has harvesting delays from too much rain, but overall bull spreads are working as supplies are tight now, but a big crop seems to be coming from Brazil. Argentina maybe not, but Brazil yes, and that is doing the bull spreads a favor. Corn can’t buy much today as the export sales were not strong, although I liked China buying. But, corn is a domestic demand story and should play out in the spreads and it will eventually rally I think. Ethanol demand was positive yesterday and feed demand should be strong as there is no good pasture out there for the cattle and hogs to much on! I expect a mostly sideways day into the close."
The March futures corn contract is trading 3 3/4 cents lower at $7.20. The March soybean futures contract is trading 1 cent lower at $14.33. March wheat futures are trading 4cents higher at $7.72 per bushel. The March soyoil futures contract is trading $0.01 lower at $52.10. The March soymeal futures is trading $1.30 per short ton lower at $413.40.
In the outside markets, the NYMEX crude oil is $0.18 per barrel lower, the dollar is lower and the Dow Jones Industrials are 56points higher.
At the open:
The March futures corn contract is trading 4 cents lower at $7.20. The March soybean futures contract opened 2 cents lower at $14.33. March wheat futures opened 1 cent higher at $7.70 per bushel. The March soyoil futures contract opened $0.15 lower at $51.96. The March soymeal futures opened unchanged per short tonat $414.70.
In the outside markets, the NYMEX crude oil is $0.38per barrel higher, the dollar is lower and the Dow Jones Industrials are 18 points higher.
It's 8-O'clock and no fresh export sales are showing up today. Also, I'm all photo'd out. So, no more photos. But, I hope you enjoy a glimpse into South America's harvest season.
USDA releases bullish wheat export sales, friendly soybeans and neutral-to-friendly corn sales Friday:
Corn=189,800 mt vs. the trade's expectations of 150,000-350,000 metric tons (mt).
Soybeans=978,300 mt vs. the trade's expectations of 700,000-1.2 million mt.
Wheat= 647,500 mt vs. the trade's expectations of 300,000-550,000 mt.
Soymeal= 218,000 mt vs. the trade's expectation of 150,000-300,000 mt.
Early calls: Corn is seen 1-2 cents lower, soybeans 2-4 cents lower, and wheat 2-4 cents lower.
Overnight grain, soybean markets=Trading lower.
Crude Oil=$0.44per barrel higher.
Wall Street=Seen mixed, with more company earnings and new home sales reports to be released today.
World=Asia/Pacific stocks are mostly higher and Europe's stocks are mostly higher.
More in a minute,
01-25-2013 07:15 AM - edited 01-25-2013 07:37 AM
Agriculture.com's Marketing department is receiving more information on the current soybean harvest in Mato Grosso and Mato Grosso do Sul in Brazil Friday. Our counterparts from Gazeta do Povo newspaper are on their annual Crop Expedition across the country. The lead tour scout says the country, despite troubled weather lately, is still on pace for a record soybean crop. Along with some harvest photos, here is an update in his own words:
"I don´t have any doubt that the harvest will be a record. At this moment, according to Crop Expedition (Expedição Safra), the soybean crop's potential is estimated at 82.27 million metric tons and corn (summer or first crop) to 35.83 million metric tons.
I have two teams in the field this week. One in the Midwest (Mato Grosso, Rondonia e Para) and another in Southern (Mato Grosso do Sul, Parana, Santa Catarina e Rio Grande do Sul).
Drought conditions are very specific in Mato Grosso do Sul state and of the western Bahia state. It rained a lot in Mato Grosso and Piaui (Northcentral). But, now it is normal.
In South America, the biggest concerns are in Argentina. Many rains fell during planting season, followed by a drought in crop development. The soybean production in Argentine could drop below the 50 million metric tons."
Snapshots of this week's soybean harvest activity in Mato Grosso and Mato Grosso do Sul:
Dust in the wind
Cutting 2013 soybeans
Beans shine in the Cerrado
Let's get 'em out.
A 7 combine job. "I sure hope the trucks are ready"
Photos by Christian Rizzi. Thanks Chris, beautiful photos.
01-25-2013 07:28 AM - edited 01-25-2013 07:37 AM
It's really hard to tell from the photo - but to me - them beans look pretty dang good ! 4 or 5 pods at the top , but the big thing is that they look to be close poded , the nodes look close to me and the plant did not go to growth = tall beans with node's like 5 0r 6 inchs apart .
Well I just got the other photos down loaded , they appear to be on the short side , That is why they are so close poded -- BUT I had beans like that before that made 66 bpa .
I don't what the deal is here this morning -- maybe its the snow that is comeing DOWN now , just got 2 more photo's , the one pic just above the 7 combines --- those beans look like crap !
01-25-2013 07:38 AM - edited 01-25-2013 07:42 AM
ECI - ummmmm . . . they look kinda short . . . don't they? Are you sure that is not a picture taken in Southern Iowa. I mean . . . they kinda look like some of the beans in Iowa this year. If that is Brazil, those beans only hae to travel 500 miles to get in line to get loaded . . . if they can find a ship! I mean . . . $5 a bushel freight is a bit steep isn't it? Yep! They may be raising it, but lets see if they get it shipped. Adios Amigo. LMAO! John
01-25-2013 08:04 AM - edited 01-25-2013 08:16 AM
You must be seeing the same U.S.-based information that I am, this morning. Talk of truckdriver shortages, 45 day delays for ships exiting the ports, and other logistical problems. FYI, I've sent a request to Brazil for confirmation of this 'talk'. We'll see. I have another photo that I will share with you in just a moment that might confirm what you and I are talking about. Give me a minute.
Ok, check out this line-up of semi-'s loaded with soybeans and trying to make their way down the infamous BR-163 highway through Mato Grosso. The car that the photographer of this photo was in took 4-hours to travel 118 miles, on this road.
Photo by Gazeta do Povo's Jonathan Campos.
01-25-2013 08:13 AM - edited 01-25-2013 08:15 AM
Hey Mike -- is that a NO Lot Lizzard sign in the back ground ? LOL
Thanks for the Photo's !!
Hope Shell look's out his window and see's this mess -- LOL