Daily Comments (Public)

  • aug 16, 2022
    EXPORTERS SELL 228,606 METRIC TONS OF SOYBEANS FOR DELIVERY TO MEXICO DURING THE 2022/2023 MARKETING YEAR-USDA. Rain in some of the dry places. More talk of boats lining up to go load out of the Ukraine. Brazil and Ukraine both beating us on corn fob corn offers, although not that much is expected to come out of the Ukraine. The corn that does load in Ukraine should go directly to Europe as the trade is talking more and more about the large production losses in Europe due to the dry weather. 6 to 8 mmt worth of lost production according to some of the analysts. Crude oil backing off more today, down to $86 per barrel, mostly on China economic woes. Corn harvest is starting in the southeast. End users are lining up at 6 bucks on the board to fill up. Margins seem ok around the domestic horn. ethanol should be doing very well w/ crude below $90. We need crude to play around $100 for corn to hold onto rallies. Seasonals and politics seem to be in play as much as anything else. I don't think we have a chance to rally very far until election season is over. Have to say, I am surprised at the beans backing off with the US being the market until Brazil new crop comes on in feb. Pro farmer crop tour starts up next week. Some other tours are out there this week. Marc Chiodo This is not a solicitation. Any statements derived herein are derived from sources believed to be reliable but are not guaranteed as to accuracy or completeness. No responsibility is assumed with respect to any such statement, nor with respect to any expression of opinion contained herein. past performance is not indicative of future results. trading in commodity futures or options involves substantial risk of loss and is not suitable for everyone.