The Crowley Report 5/18/15

The Crowley Report 5/18/15Beans closed lower on Friday and for the week. Tuesday's WASDE report, and more specifically the forecast 500 million bushels US carryout at the end of the 2015/16 continue to weigh on the market. Even a record large for the month of April NOPA soybean crush of 150.3 million bushels couldn't help beans close in positive territory. The Buenos Aires Grain Exchange said that the Argentine soybean harvest was approaching 80% complete, and held steady with their forecast for a record 60 MMT crop, that's 1.5 MMT more than the USDA's revised forecast released Tuesday. Beans tested $9.50 on the Jul 15 contract, which just about held. We've only had two front month closes below that level since the market set [more]

The Crowley Report 5/11/15

The Crowley Report 5/11/15On Tuesday, May 12, USDA will release its monthly WASDE report, along with their first objective production estimate of this year’s U.S. winter wheat crop. Also included in the WASDE report will be the USDA’s first official estimates of the 2015/16 U.S. and world balance sheets, providing the market with the first update of their new crop ideas since the February Ag Outlook conference. USDA’s new crop demand ideas will be closely watched for “big picture” indicators on their level of perceived optimism for grain/oilseed demand over the coming year. However, should weather problems be avoided this year, comfortable new crop balance sheets are likely to be reflected for corn and wheat, while the soybean view may be quite burdensome [more]

The Crowley Report 4/20/15

The Crowley Report 4/20/15Beans closed with small gains on Friday and finished up with relatively modest advances for the week. The Commitment of Traders report shows that the speculative funds piled on the new short positions last week as the market tumbled 34 1/2 cents basis the May futures. The spec trader increased his short position by 27,845 contracts to net short 76,269 lots. This week's better than expected old crop weekly export sales and a March NOPA crush at record levels, and well above even the highest trade estimate were the supportive items. With the Brazilian soybean harvest winding down, and the Argentine one making rapid progress, attention is now starting to switch to US planting potential. CBOT open interest has fallen [more]

Data provided by Televent LogoandCBOT Logo
Copyright DTN. All rights reserved. Disclaimer