Agri Blog

Quantitative Figures and Metrics Summary: Grains:- Soybean carry-out for 2022 at 385 million bushels, versus USDA at 350 million bushels- Soybean carry-out for 2023 at 512 million bushels, with a yield of 53 bushels per acre- Wheat carry-out for 2023 at 776 million...

Cocoa:- Cocoa prices broke out of a 5-6 day consolidation range on Wednesday Coffee:- Brazilian real fell to its lowest level since March 2023 on Tuesday, but reversed on Wednesday Cotton:- 53% of the southeastern US was in moderate to severe drought as of last week,...

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Commodity Market Metrics- Cocoa at 70 cents spike low, targets 50% retracement potentially - Cotton USDA report estimate of 10.8-11.2 million acres- Natural gas support at 2.71, resistance at 2.94 USDA Report Estimates- Corn acres historically higher in June, up 20 of...

Cocoa:- September futures support at 7000, May low support at 6418- Ivory Coast crop 22% behind 5-year average for this time Coffee:- September futures resistance at 238.70, upside objective at 261.30, support at 225.40 Cotton:- US crop progress report showed 26% of...

Corn: Futures ended near $4.40 support (opinion) Tested $4.49 potentially resistance overnight Weekly US corn export sales estimated at 700-1,200 mt vs 1,056 last week Soybeans: Futures near $11.50 support (opinion) Tested $11.75 potentially resistance overnight...

- US cattle kills: 121,000, running 7,000 below week ago and 17,000 below year ago- Choice beef price: $320.70- Selected beef price: $303.26- Negotiated steer price as of May 18: $192.45- June Live Cattle Futures Price settled Tuesday at 186.67- Cattle on feed report...

Corn: Prices rebounded $0.04-$0.06 today Corn emergence at 93% vs. 95% last year and 5 year average of 92% Ratings slipped 2% to 72% good/excellent, with a 2% shift to fair Crop Condition (CC) index at 83.1, matching highest since 2020 Chinese imports in May 2024 at...

- Agricultural commodities:- 3-4 cent gains overnight in both corn and soybeans - 93% planting progress for corn and soybeans- 49% winter wheat conditions rated good to excellent (up 2%)- 76% spring wheat conditions rated good to excellent (up 4%)- 1 million metric...

Corn: Emergence at 93%, in line with 5-year average of 92% but behind 95% last year Ratings at 72% G/E, down 2% from previous week Crop condition index at 83.1, matching highest since 2020 Ratings declined in 10 states, improved in 8 states Biggest drops: NC (-21%),...