Archive for April, 2015

April 30, 2015 0

Thursday, April 30, 2015 – Daily Wheat Market Brief

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April 30, 2015 0

Thursday, April 30, 2015 – Cotton Futures Gap Higher, Close Bearish Overhead Gap on Strong US Export Data

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The July contract gapped 21 points higher on the opening bell and covered the bearish front month overhead gap at 67.88 – 68.00 post the dissemination of relatively strong US export sales and shipment data. July settled at 67.88, within the upper one quarter of the trading range. Dec gained another 37 points, settling at 66.64, the net effect leaving the July – Dec spread strengthened at 124. A gap remains above the market on the front month continuation chart at 77.80 – 78.00 and below the market at 67.09 – 67.30.

For tomorrow…

April 30, 2015 0

Thursday, April 30, 2015 – USDA Export Report Results

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Total net export sales of cotton against the current MY for the week ending April 23 were reported at 134.4K RBs – down approximately 14% vs last week. Sales cancellations were negligible at 5.6K RBs. Total export shipments for the period were approximately 290.1K RBs, off vs last week but well ahead of the pace required to meet the USDA’s 10.7M bale export target. Upland sales against 2015/16 were 42.9K RBs.

Total commitments stand at nearly 101% of the USDA’s export projection. Export shipments will need to average approximately 226K RBs per week.

Overall, we take today’s export data to be supportive, although we think that the trade was likely looking for larger numbers on today’s report. Today’s data strongly suggests that the USDA will enhance its export projection on the May WASDE report.

Corn and soybean sales were higher vs last week, with soybean sales posting positive sales this week of just less than 450K MTs. US wheat export sales remain under pressure with net sales reductions of nearly 450K MTs, a MY low, put forth in today’s report.

April 30, 2015 0

Wednesday, April 29, 2015 – Daily Soybean Market Brief

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April 30, 2015 0

Wednesday, April 29, 2015 – Daily Corn Market Brief

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