Archive for July, 2014

July 31, 2014 0

Thursday, July 31, 2014 – Daily Cotton and Grain Report: Producer Edition

By in Producers and Ginners

Showers occurred over cotton fields in W TX, OK and NM yesterday while light, scattered showers occurred today over the north delta region. Internationally, in India, recent monsoon rains over central western growing regions have all but erased this season’s initial moisture deficit…

Weather across the US Corn Belt remains somewhat dry, but temperatures remain favorable for both pollination and filling; across the southern US, weather conditions remain favorable to optimal for filling.

Technically, the daily outlook for Nov soybeans is turning bearish again; on both a weekly and monthly basis, the market remains technically weak and oversold.

For tomorrow…

July 31, 2014 0

Thursday, July 31, 2014 – Dec Plunges to New Contract Low Post US Export Report Evincing Slower Demand

By in Daily Reports

Dec plunged again today, post the dissemination of a US export report that showed slowing demand for US stocks as prices trend lower, to settle at 62.87. Dec posted new contract and settlement lows again today. The settlement was within the lower one half of today’s 168 point trading range (62.32 – 64.00), which was entirely to the south of yesterday’s settlement.

Technical bias for the front month remains bearish and is largely unchanged from yesterday.

For tomorrow…

July 31, 2014 0

Thursday, July 31, 2014 – USDA Cotton Export Report Results

By in Uncategorized

USDA-FAS reported total net sales of 5.7K RBs and total exports of 120.6K RBs against the current MY for the week ending July 24. Both figures were higher vs last week. Sales cancellations were reported at 3.3K RBs.

Total commitments against the current MY remain at nearly 11.1M bales. Shipments have reached 98.4% of the USDA’s export target of 10.5M bales. Shipments will need to tally approximately 167K RBs on next week’s report in order to meet the USDA’s target.

Total net sales against the 2014/15 MY were significantly lower W/W at 254.7K RBs and now stand at 42% of the USDA’s projected 10.3M bale export projection when adding the difference between 2013/14 total commitments and projected exports to 2014/15 sales.

The market was reportedly expecting smaller new crop export sales, which is what occurred, and we view this information as mostly neutral. Rallies will likely be seen as selling opportunities.

July 31, 2014 0

Wednesday, July 30, 2014 – Daily Cotton and Grain Report: Producer Edition

By in Producers and Ginners

Dec continued its trend lower today, giving up 101 points to settle at 64.00, a new low settlement for the current downtrend. The settlement was within the lower one quarter of today’s 149 point trading range (63.76 – 65.25).

Despite relatively dry weather across the US Corn Belt, the market continues to look bearish as mild temperatures mitigate concerns about recent short precipitation.

Nov soybeans lost 13¾ cents today, settling at 1081¼. Volume slowed today while OI contracted for the Nov contract.

For tomorrow…

July 30, 2014 0

Wednesday, July 30, 2014 – Dec Continues to Make and Settle at New Contract Lows; US Export Sales Expected to Decline Vs Last Two Weeks

By in Daily Reports

Dec continued its trend lower today, giving up 101 points to settle at 64.00, a new low settlement for the current downtrend. The settlement was within the lower one quarter of today’s 149 point trading range (63.76 – 65.25).

Technical bias for the front month remains bearish with the market currently oversold. Dec continues to settle below all of its major SMAs.

For tomorrow…

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