The Crowley Report 9/16/2014

The Crowley Report 9/16/2014Soy futures closed firm at the end of the week in light volume trade, with support offered from short covering ahead of the weekend, though new crop futures still lost 36 cents on the week. The September futures expired which should take some of the extreme nearby volatility that we have witnessed in recent weeks out of the market. The USDA report some 900,000 MT of sales to China and Unknown destinations late in the week. There were part of framed contracts that were signed by a visiting Chinese delegation. The contracts in no way change export estimates.  Worries over a weekend frost threat for the Midwest were also enough to trigger some short-covering. In the crop report, the USDA [more]

The Crowley Report: 9/8/2014

The Crowley Report: 9/8/2014Chatter of a frost threat in the two week forecast had corn, soybean, and wheat futures higher at the close to end the week. We’ve got a drop in temperatures coming, but most put lows in the mid to upper 30s – we need sustained, sub-30 degree temps for frost damage to occur. All-in-all, it was mostly an excuse for profit taking on a Friday. Bulls also looked at Informa’s production estimates as reasons to buy today, coming in lower than other private projects, but still higher than the USDA. Unlike the other estimates, Informa's numbers reflect what they think the USDA will say next week, not a final crop estimate.  On the week, corn futures lost nearly 9 cents [more]

The Crowley Report: 9/2/2014

The Crowley Report: 9/2/2014Corn prices were narrowly lower to end the week, pressured by crop-friendly weather conditions fro what is expected to be a monster harvest. Late rains will help fill kernels and boost yields. Month-end position squaring was the feature this week as well as first notice day activities for Sept futures. Plentiful Global stocks and limited exporter interest continues to anchor prices. Open interest fell to the lowest level since January on the lightest volume in 3 weeks. The International Grains Council raised Global ending stocks fir the 4th straight month with carryovers seen at the largest level since 1987/88. The US crop along with Ukraine and the EU were revised upward. Reports are coming in from early harvest activities with [more]

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