- Agriculture.com Community
- Announcements & Forum Help
- Farm Business
- Young & Beginning Farmers
- Cattle Talk
- Crop Talk
- Hog Talk
- Machinery Talk
- Machinery Marketplace
- Shops, buildings and bins
- Ask the SF Engineman!
- Computers & more
- Precision Agriculture
- People & Rural Life
- Ag Forum
- Women In Ag
- Agriculture.com Blogs
- Your Farm in the Future
- Women in Ag: Lisa Foust Prater
- Women in Ag: Brenda Frketich
- Women in Ag: Anne Miller
- Women in Ag: Jennifer Dewey
- Women in Ag: Talkin' Turkey with Lara Durben
- Women in Ag: Heather Lifsey Barnes
03-06-2013 06:52 AM - edited 03-06-2013 03:04 PM
At the close:
The May futures corn contract settled 20 cents lower at $6.88. The May soybean futures contract finished 1 cent lower at $14.66. May wheat futures closed 22 cents lower at $6.83 per bushel. The May soyoil futures contract finished $0.13 higher at $50.26. The May soymeal futures finished $0.60 per short ton lower at $435.30.
In the outside markets, the NYMEX crude oil is $0.36 per barrel lower, the dollar is higher and the Dow Jones Industrials are 41 points higher.
The Mayfutures corn contract is trading 12 cents lower at $6.96. The May soybean futures contract is trading 3 cents higher at $14.70. May wheat futures are trading 16 cents lower at $6.89 per bushel. The May soyoil futures contract is trading $0.04 higher at $50.17. The May soymeal futures are trading $1.70 per short ton higher at $437.60.
In the outside markets, the NYMEX crude oil is $0.81 per barrel lower, the dollar is higher and the Dow Jones Industrials are 38 points higher.
Soybans are slightly higher, while corn and wheat remain lower Wednesday. Meanwhile, the weekly Energy Information Agency indicates that through the week ending last Friday, U.S. ethanol output has fallen 1% to 805,000 barrels/day. This breaks a four-week streak of higher output.
At the open:
The Mayfutures corn contract opened 8 cents lower at $7.01. The May soybean futures contract opened 6 cents lower at $14.60. May wheat futures opened 10 cents lower at $6.96per bushel. The May soyoil futures contract opened $0.04 lower at $50.07. The May soymeal futures are trading $2.40 per short ton lower at $433.50.
In the outside markets, the NYMEX crude oil is $0.70 per barrel lower, the dollar is higher and the Dow Jones Industrials are 43 points higher.
Jeff Coleman, The Trean Group analyst and CME Group pit trader, says the news is light.
In his own words: "Trading was very sparse overnight with corn and beans basically unchanged and wheat down five cents. Wheat and corn continue to hang around the $7.00 level with the only real news coming in the wheat market. Continued snow across the Midwestern U.S. has eased the fear of drought conditions while other parts of the world chimed in to move the wheat futures. India, the world’s second largest wheat grower, announced plans to increase exports of wheat due to an impending bumper crop. Australia also upped their estimates for the upcoming harvest and stated that the world wide wheat harvest for 2013-2014 will increase by almost 5%. These new crop estimates continue to weigh heavily on the wheat market. The stock market is dominating headlines and grabbing all the attention nowadays after making new historical highs yesterday. Cash leaves the commodity sector and flows into equities as money managers scramble for a place to make money on their money. That being said, volume on the world’s stock exchanges remains shockingly light. Hmmmmm…. If we are making record highs in stocks where is the excitement? Where is the panic? Where is the volume? The economic calendar is light for today but tomorrow and Friday may be active with plenty of data being released for both the equities and commodities markets," he says.
--Russia reports that its grain exports from July 1-Feb 27 are down 30% at 13.85 mmt.
--Ukraine reports that its current marketing year wheat exports total 6.2 mmt & total grain exports 18.0 mmt, up 39%.
--Japan seeks 320,000 tons of feed wheat, barley.
Early calls: Corn is seen 1-2 cents lower, soybeans 2-4 cents higher, and wheat 2-4 cents lower.
Overnight grain, soybean markets=Trading mostly lower.
Crude Oil=$0.10 per barrel lower.
Wall Street=Seen opening higher, with follow-through from the stock market's record-high reached yesterday.
World=Asia/Pacific stocks were higher and Europe's stocks were higher.
More in a minute,
03-06-2013 07:34 AM
I notice that the USDA is out with a story, today, that highlights the struggles of Brazil, regarding exporting soybeans. We see a lot of pictures of roads with potholes, red clay, bumper-to-bumper trucks and such. But, here is a photo that indicates Brazil is making headway on some stretches of highways. I don't think this type of highway gets presented much. This photo was taken by photographers at the Brazilian magazine "Roads & Highways".
The title reads "Logistics in focus". The magazine has an interesting site: www.rodoviasevias.com.br
03-06-2013 08:42 AM
Good to hear from you. You've been lurking quite a bit lately, I see. . I do believe that some trucks return with a load of some product. It depends on the area. I know that in the "New Frontier" areas of Piaui (northeast Brazil), trucks haul the harvest out of the plataeu and return with fertilizer. But, that doesn't mean that happens in all areas of Brazil.
03-06-2013 08:55 AM
Rough highways are just a small part of the problem of Brazil's logistics. And yes, there are some that are good as the one from the picture. However, the big picture shows a country as big as the continental United States, but with scarce usage of railways to transport grains and almost zero use of waterways.
03-06-2013 09:52 AM
The agriculture trade has been growing and highly productive for years now. Will the success of a good crop at a high price create improvement in the transportation picture? It seems like it has not in the past.
Is spending for commerce restricted by government control and lack of planning??? (something we may share in common) 20% humor intended.
03-06-2013 10:20 AM
It seems that they decided to build themselves a Nuclear submarine instead of building another 500 miles of roads. Or upgrading a few of their ports.
Are they planning on sinking ships that are tired of waiting in their long line and head our way to load grain?
You can thank the French for that one.
Should give us another couple year reprieve from modern competition.