August 16, 2017 - Author: Ken Morrison
Ugly, a family-friendly four-letter word, best describes the price action in most crops this week. Sentiment has reached extreme levels in winter wheat but that alone will not be enough to sustain a meaningful rally. Read More...

August 14, 2017 - Author: Ken Morrison
The closing few minutes of trade for grains were the most encouraging signs on the day but upside follow through is needed to confirm and reinforce support. Read More...

August 12, 2017 - Author: Ken Morrison
Knowledge of USDA's methods used (and not used) in gathering and forecasting U.S. crop yields would serve to reduce report-day surprises. For me, I learned how much I didn't know and still have more to learn. Read More...

August 10, 2017 - Author: Ken Morrison
Wide divergence of crop yields between USDA and analyst surveys shocked the market and propelled prices lower. The debate will continue into harvest. Read More...

August 9, 2017 - Author: Ken Morrison
Six consecutive weeks of substantial drawdowns of U.S. oil inventories improved the supply/demand balance and boosted prices. The 'seasonality' clock may be working against refiners efforts to further reduce supplies substantially before demand begins a descent. Read More...

August 8, 2017 - Author: Ken Morrison
The market's consensus for USDA's reports on Thursday are established providing benchmarks for bulls and bears to line up accordingly. The best strategy may be to simply have no pre-established expectations so as to safeguard against having to adjust to surprises, and there are sure to be some. Read More...

August 7, 2017 - Author: Ken Morrison
Advance sales of cotton for the 2017/2018 year that began August 1 is an anomaly when compared to past year's sales pace at this early date. But similar year's remind us the pace of sales early in the year is not a reliable indicator for the full year. Read More...

August 6, 2017 - Author: Ken Morrison
With decisions regarding winter wheat acreage approaching for producers, we take a look ahead at what the U.S. supply side of hard winter wheat may be without any change in U.S. sown acreage this fall. Read More...

August 3, 2017 - Author: Ken Morrison
The combination of price and open-interest changes can often signal the risk-strategies of professional money managers. Today we illustrate 3 current examples in various stages. Read More...

August 2, 2017 - Author: Ken Morrison
The competition we've anticipated from South America's record corn supply is becoming a reality with today's news Brazil's July corn exports set a record for the month. We discuss how this likely impacts U.S. corn exports over the next several months. Read More...

July 31, 2017 - Author: Ken Morrison
Corn and Soybeans tend to follow seasonal patterns often peaking in July then trending lower as uncertainty about U.S. yields is removed as harvest approaches. We take stock of where corn and soybean price trends are within the seasonal tendencies. Read More...

July 29, 2017 - Author: Ken Morrison
Two announcements Friday on policy and trade had divergent implications for their respective markets. Japan's action on frozen beef tariffs highlight the importance of bilateral trade agreements, good for those who have them, bad for those who don't. Read More...

July 27, 2017 - Author: Ken Morrison
The yield estimated for spring wheat @ 38.1 bushels/acre is probably aligned with most people's expectations but the tour officials. in the end, declined to estimate the extent acreage may be abandoned. Read More...

July 26, 2017 - Author: Ken Morrison
Pork bellies set record highs as inventory sets record lows yet everyday seems to see a new menu item featuring bacon. It all spells record retail bacon prices as the only likely means of rationing demand. Read More...

July 25, 2017 - Author: Ken Morrison
Outside reversals following strong openings in grain and soy ended the day on a negative note and put the onus on bulls to defend their positions. Read More...

July 24, 2017 - Author: Ken Morrison
Several of the markets we highlighted in the weekend edition re-tested important support levels. Most managed to hold but 1 more day is needed to confirm and reinforce today's tests. Read More...

July 22, 2017 - Author: Ken Morrison
The week ahead should test the resolve of market participants in cattle and corn futures. Friday's cattle on feed report was the 8th consecutive month placements exceeded expectations setting the stage for larger beef supplies the next few months. Read More...

July 20, 2017 - Author: Ken Morrison
As the week's end approaches crop markets will weigh the outlook for next week's more normal temperatures with the notion the week has likely seen deterioration in corn, soybean, and spring wheat conditions. Read More...

July 19, 2017 - Author: Ken Morrison
USDA will issue two cattle inventory reports after the close of Friday's market; the monthly cattle on feed and the semi-annual all-cattle inventory. Placements have exceeded market expectations 7 consecutive months. Will June placements make it 8? Read More...

July 18, 2017 - Author: Ken Morrison
Price action and other indicators suggest the fund's comfort zone continues to be bearish. We examine a few fundamental reasons that may be influencing their behavior. Read More...

July 17, 2017 - Author: Ken Morrison
Pork bellies continue to set new wholesale price records and may be only a matter of time before retail bacon prices do likewise. Bacon @ $6/lb. proved to have consumer-resistance in 2014 and consumer reaction to retail prices may hold the key to pork and hog values. Read More...

July 15, 2017 - Author: Ken Morrison
Last week's wild rides in grain and oilseed markets may be worthy of a sequel to the 1983 movie Trading Places. It lacked the movie's intrigue of the Duke Brothers stolen crop report from USDA but rivaled the volatility. Read More...

July 13, 2017 - Author: Ken Morrison
Risk happens fast especially when the funds decide they want to reverse course in a hurry. Price and sentiment got pounded but extreme 1-day moves such as today often see the markets re-think and take a breath. Read More...

July 12, 2017 - Author: Ken Morrison
Expectations on yields recently baked into the recent prices didn't stand up to USDA's usual behavior that has been hesitant to make big yield changes in July. Read More...

July 11, 2017 - Author: Ken Morrison
Grain and oilseed prices have had a head-spinning rally entering USDA's updated supply/demand forecast Wednesday. Prices reflect future expectations but USDA's forecast may not reflect the market's anticipation. Read More...

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