News From The Grain Floor

Good morning

 

May Peace be your gift at Christmas and your blessing all year through!

~Author Unknown

 

USDA announced 120K US beans sold to unknown for ‘13/14 shipment

 

Overnight closes

  • SH up 2 at 1333
  • CH down a ½ at 432 ¾
  • WH down 3 ¼ at 610 ¼
  • KC WH down 5 at 652 ¼
  • MWH down 2 ¾ at 647 ¾
  • SMH up .80 at 434.40
  • BOH up 5 at 3979
  • RRH down 9 at 1535

 

Overnight volume

  • SH 14,832
  • CH 6,894
  • WH 2,199
  • KC WH 741
  • MWH 189
  • SMH 4,121
  • BOH 6,414
  • RRH 27

 

Opening calls

  • Beans 1-3 higher
  • Corn steady lower
  • Wheat 3-5 lower
  • KC Wheat 4-6 lower
  • Minneapolis wheat 2-4 lower
  • Meal .50-1.50 higher
  • Bean oil steady – 10 higher
  • Rice 8-10 lower

 

Gold, crude oil, and dollar lower.  Silver and stock market higher

 

Nikkei up .07%

Hang Seng up .5%

Shanghai Index up .2%

 

China grain closings – beans up 17, corn up 2, meal up 6, palm oil down 26, bean oil down 4

 

Palm oil up 32

 

Russia’s federal statistics service said Russia exported 15.078 MMT of grain between July 1st – Dec 18th up 18.7% from a year ago

 

Russia Ag Min estimated 2013 grain crop at 88-90 MMT vs. 71.7 MMT a year ago

 

Total Russian ‘12/13 grain exports were 15.69 MMT

 

Russia’s Ag Min said wheat and barley harvest is complete.

 

As of Oct 20th Russia harvested 99.7% of their total grain area. 96.9 MMT on 42.3 MH with an average yield of 2.29 TPH a year ago Russia harvested 75.1 MMT of grain on 39.0 MH with an average yield of 1.92 TPH

 

Vietnam government estimated 2013 rice exports at 6.72 MMT down 16.1% from a year ago

 

Above normal temps and below normal rains in Argentina this week

 

Some rains in forecast for Brazilian bean areas Monday and Tuesday

 

Concerns about flooding in Malaysia continues

 

50 day moving average is March corn is 437 ¼

 

China’s customs data – November imports

  • Wheat – 968,074 tons up 721.1% from a year ago
    • From US – 772,327 tons up 34537% from a year ago
  • Barley – 97,123 tons down 53.31% from a year ago
  • Corn – 797,872 tons up 107.66% from a year ago
  • Rice – 180,545 tons up 23.45% from a year ago
  • Beans – 6,030,395 tons up 45.02% from a year ago
    • From US 3,553,771 tons up 12.94% from a year ago
    • From Brazil 1,385,771 tons up 267.38% from a year ago
    • From Argentina 770,469 tons up 68.25% from a year ago
  • Rapeseed – 559,091 tons up 26.4% from a year ago
  • Rapeseed oil – 93,167 tons down 29.17% from a year ago
  • Rapeseed meal – 24,882 tons up 35.65% from a year ago
  • Bean oil 175,715 tons down 5.64% from a year ago
  • Soymeal 1,233 tons down 15.56% from a year ago
  • Palm oil 569,863 tons down 12.88% from a year ago

 

China’s customs data – Jan – Nov 2013 imports

  • Wheat – 5,118,062 tons up 38,96% from a year ago
    • From US 3,524,247 tons up 447.32% from a year ago
  • Barley – 2,138,994 tons down 13.48% from a year ago
  • Corn – 2,443,583 tons down 50.55% from a year ago
  • Rice – 2,036,247 tons down 4.37% from a year ago
  • Beans 55,971,206 tons up 6.63% from a year ago
    • From US 16,297,119 tons down 23.05% from a year ago
    • From Brazil 31,231,214 tons up 31.4% from a year ago
    • From Argentina 5,687,660 tons up 4.19% from a year ago
  • Rapeseed – 3,155,901 tons up 16.38% from a year ago
  • Rapeseed oil – 1,437,423 open , up 31.85% from a year ago
  • Rapeseed meal 119,465 open, down 76.09% from a year ago
  • Bean oil 1,068,086 tons down 34.21% from a year ago
  • Soymeal 15,419 tons down 65.44% from a year ago
  • Palm oil 5,326,577 tons down 1.12% from a year ago

 

Weekly COT supplemental report from Friday. Large Spec positions as of Dec 17th. Futures and options combined

  • Wheat short 103,320
  • KC wheat long 583
  • Corn short 175,410
  • Beans long 138,839
  • Meal long 35,596
  • Bean oil short 52,732

 

Upcoming reports and events

  • Weekly US export inspection report comes out today at 10 am CST
  • Weekly API energy inventory report comes out tomorrow at 330 pm CST
  • See attachments for holiday trading schedules
  • Surveyors SGS and Intertek estimate Malaysia’s Dec 1-25th palm oil exports on Dec 26th
  • Weekly US jobless claims report comes out on Thursday at 730 am CST
  • Weekly US export sales report comes out on Friday at 730 am CST
  • Weekly EIA Nat Gas storage report comes out on Friday at 930 am CST
  • Weekly DOE #s come out on Friday at 10 am CST
  • Weekly US ethanol plant production report comes out on Friday at 10 am CST
  • Last trading day for Jan options is Friday, Dec 27th . Options expire at 115 pm CST
  • Position day for Jan futures is Dec 30th
  • First notice day for Jan futures is Dec 31