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Tag Archives: corn

Commodity Tracker: 6 charts to watch this week

As COP25 kicks off in Madrid, S&P Global Platts editors take a look at the CO2 impact from OPEC oil production. European gas and nuclear, and IMO 2020’s impact on commodities as diverse as fuel oil and iron ore, are also on the agenda in this week’s pick of charts. 1. OPEC oil-only CO2 output dwarfs EU total emissions   Click to enlarge   What’s happening? OPEC is meeting this week to decide on output quotas, but climate change isn’t on the agenda for the group of...

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Corn & Wheat Decline, Soybean Rally After USDA Acreage

Corn dropped and soybeans rallied after the US Department of Agriculture released its updated acreage estimates. Wheat joined corn in decline. The USDA estimated that the area planted by corn was at 91.7 million acres in 2019, up 3% from the previous year. That is below the previous estimate of 92.8 million acres but above market expectations of 86.6 million acres. Soybeans acreage was pegged at 80.0 million, down 10% from...

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Corn Surges to Five-Year High on Lower Production, Flooding

Corn futures are trading at their best levels in five years, driven by lower US production and flooding in the Great Plains and Midwest that is impacting corn planting levels. While tumbling output might not be horrendous for the market, analysts do say that fears and hoarding could push the market into panic mode. July corn futures rose $0.0525, or 1.19%, to $4.4725 per pound at 12:55 GMT on Friday...

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Is Corn Ready To Pop Or Drop?

Corn volatility has spiked in recent weeks, fueled by weather-related delays in planting crops in the U.S.  The record amounts of rain and resulting flooding in the U.S. Midwest, which is bullish for corn and other crops, follows bearish tariff tensions with China which had pushed the July 2019 corn futures contract to all-time lows just two weeks ago. Source: TradingView On a weekly chart, we can see that this is the sixth time that the front-month (continuous) corn futures...

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Grains Show Mixed Performance After USDA Supply Report

Grains showed mixed performance on the market today, with corn falling, wheat rising, and soybeans being little changed. That is surprising, considering that the February World Supply and Demand Estimates released by the US Department of Agriculture were bullish for corn and soybeans, while being bearish for wheat. The USDA did not release the report in January due to the lack of funding caused...

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Week In Review – January 4

Summary What a week to start the year. U.S. stocks trading like an emerging market Big money flows into emerging markets, particularly big Latins.  Look at move yields and currency U.S. bond yields spiked on Friday as stock shorts, as we expected, got their “Friday facial” European periphery spreads wider on the week Big moves in EM FX with Brazil leading the way EM stocks up big Brazil’s country ETF, EWZ, our favorite stock market up almost 9 percent in 2019! The return includes the...

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Commodities Trade in Red During Friday’s Session

The vast majority of commodities posted losses during the Friday’s European trading session. Crude oil reversed yesterday’s gains today. Yesterday, the commodity surged about 3% on the news that Saudi Arabia is going to limit its exports to the United States in effort to drain US stockpiles of crude. Yet today, futures for oil declined as the market sentiment got hit by disappointing macroeconomic data...

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Grain Prices Surge on US-China Truce

Grains demonstrated big gains today thanks to the news about truce in the trade war between the United States and China. Soybean demonstrated biggest gains as China is the major importer of the US crop. But experts voiced concerns that the best window of opportunity for US exports has passed as Brazil’s harvest nears, and China buys soy from Brazil as well. Contract for delivery of soybean...

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Is Ukrainian corn a potential winner of China, US, EU trade spat?

The recent application of retaliatory tariffs of 25% on US corn by both the EU and China is likely to reduce exports from the US to these countries sharply. One potential beneficiary of this is Ukraine, a major corn exporter on the Black Sea. However, lack of clarity on the duration of the tariffs and whether they might suddenly rise or fall creates uncertainty over whether Black Sea exporters will benefit. After the EU and US announced on July 25, 2018, they would work more closely toward 0%...

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Oil & Agricultural Markets Start Week Strong, Metal Market Doesn’t Join

Crude oil started the week on a strong footing, reversing its previous losses. September contract for WTI crude climbed 1.27% to $69.56 per barrel as of 10:26 GMT on NYMEX today. Brent grade edged up 0.4% to $74.59 per barrel on ICE. Grains also rallied. Wheat was especially strong amid concerns that dry hot weather in various growing regions across the world can damage the crop. Contract for delivery of wheat...

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