The Crowley Report 5/26/15

The Crowley Report 5/26/15 Beans closed lower on Friday, and for the week, setting fresh contract lows. The Midwest weather forecasts lean warm and wet, offering little in the way of threat. The USDA reported 109,400 MT of new crop soymeal sold to Thailand under the daily reporting system. There is a on holiday on Monday for Memorial Day, so the regular weekly crop progress report from the USDA is delayed until Tuesday. The trade is expecting US soybean plantings to have reached 55-60% done. Beans look like they are lining up to test the September front month low around the $9.10 area, before possibly staging a push below $9/bushel. A minor correction to the upside in soybeans isn’t out of the question as funds [more]

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]

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