The Crowley Report 3/2/15

The Crowley Report 3/2/15Beans closed higher on the day and higher for the week, with uncertainty over the Brazilian truckers strike continuing to provide support. Some roads were open but stocks have been drawn down at ports. China booked at least 2 cargoes from Brazil on Friday. FOB gulf values were up 3 cents at 94 over. Agroconsult estimated the country's 2015 soybean crop at 94.7 MMT, up 828,000 MT from previously. Harvesting in Brazil's top state of Mato Grosso is said to be 53.6% complete versus 58.5% a year ago. The Buenos Aires Grain Exchange forecast the Argentine crop at 57 MMT. The Ag Ministry is at 58 MMT. The commitment of traders report shows funds long 80,000 contracts. The open interest [more]

The Crowley Report 2/22/15

The Crowley Report 2/22/15 Soybean futures ended the week up slightly. March beans settled at 999’2, which was 8’0 lower on Friday as options expired. Technically the market is overbought and looks poised to head lower next week.  We’ve seen quite a bit of resilience this week though, and if the Brazilian truck driver strike becomes a major news feature we could very easily trade higher. The Outlook Forum put soy acres below trade ideas but showed stocks at a 9 year high. The market place expects the acres to be 2 million higher in the end. The USDA failed to include 4.4 million acres in their projections for the four major crops. The corn balance sheet was nothing to look at, but did [more]

The Crowley Report 2/9/15

The Crowley Report 2/9/15 Beans closed lower on Friday, but 12 higher for the week. They were down 12 last week. The strong dollar capped any advance attempts. The last 10 days while volatile, have been mostly uneventful in regards to fundamentals. The Feb S&D will be issued on Tuesday which will inject some excitement into the market. By the fun probably won't begin until the planting report at the end of March. At that time we will fully know the size of the S American crops. I will have an overview of the upcoming report in my next report. Harvest in Brazil steadily advanced this week. Yield reports continue to be above last year and the 2011 record in Mato Grosso and Parana. [more]

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