News From The Grain Floor

Good morning

 

If your actions inspire others to dream more, learn more, do more and become more,
you are a leader.

– John Quincy Adams

 

Overnight closes

  • SH down 17 at 1299 ½
  • CH down 2 at 422
  • WH down a ¼ at 563 ¼
  • KC WH up ¾ at 624
  • MWH up 1 ¼ at 619
  • SMH down 10.00 at 424.50
  • BOH up 44 at 3818
  • RRH down 1.50 at 1558.50

 

Overnight volume

  • SH 20,811
  • CH 11,914
  • WH 3,607
  • KC WH 400
  • MWH 176
  • SMH 13,254
  • BOH 19,240
  • RRH 17

 

Opening calls

  • Beans 15-20 lower
  • Corn 1-3 lower
  • Wheat steady mixed
  • KC wheat steady mixed
  • Minneapolis wheat 1-2 higher
  • Meal 9-11 lower
  • Bean oil 40-50 higher
  • Rice 1-2 lower

 

Stock market and crude higher. Gold, silver , and dollar lower

 

Nikkei up .99%

Hang Seng up .5%

Shanghai Index up 1.0%

 

China gran closings – beans down 9, corn unchanged, meal down 16, palm oil up 18, bean oil up 8

 

Palm oil up 9

 

Indonesia government lowered palm oil export tax to 10.5% in February from 12% currently

 

Over the weekend China government said they will end their bean and cotton reserves buying program . They will continue their canola , corn , and sugar programs

 

TALK China bought old crop beans last week from the US

 

TALK China seeks US wheat cargoes for April shipment

 

China seeks 200,000 tons of Australian wheat

 

Algeria seeks 50K milling wheat optional origin for April shipment

 

Iraq seeks 50K hard wheat

 

India MMT tenders to sell 60K wheat for Feb-March shipment

 

Egypt Meditrade seeks 20K sunflower oil for Feb-March shipment

 

Kazakhstan Ag Min said Kazakhstan 2013 grain crop was 18.98 MMT vs. 2012 crop of 12.90 MMT

 

Kazakhstan Ag Min said they exported 4.96 MMT of grain between July 1- Jan 20 vs. 4.12 MMT a year ago

 

On Friday Argentine crushers launched a strike. They are back to work today

 

251 bean receipts canceled Friday afternoon

  • 207 out of CGB Utica IL
  • 44 out of Cargill Lacon IL

 

March bean 50 day 1300

 

March bean 100 day 1296

 

March corn 50 day is 429 ¼

 

Much needed rains in Argentina with more in forecast

 

Favorable Brazil weather

 

Weekly COT supplemental report from Friday . Large spec positions futures and options combined as of Jan 14

  • Wheat short 90,512
  • KC wheat short 40,021
  • Corn short 151,356
  • Beans long 104,823
  • Meal long 26,905
  • Bean oil short 79,644

 

Upcoming reports and events

  • Weekly US export inspections report will come out today at 10 am CST
  • Weekly API energy inventory report comes out tomorrow at 330 pm CST
  • Weekly US jobless claims report comes out on Thursday at 730 am CST
  • Weekly  EIA Nat Gas storage report comes out on Thursday at 930 am CST
  • Weekly DOE #s and ethanol plant production comes out on Thursday at 10 am CST
  • Weekly US export sales report comes out on Friday at 730 am CST
  • Feb options expire Friday at 115 pm CST
  • China markets will be closed Jan 31st – Feb 3rd for Lunar New Year holiday . Markets resume Feb 4th