Commodities in the last trading week of the year saw a big bounce in Platinum and Palladium recovering from a when prices collapsed on Chinese economic data combined with the explosive COVID infection wave being a serious threat to Chinese auto consumption and as such a threat for auto catalyst inputs like palladium. We saw a mixed result in energy markets. Gasoline, WTI, Brent Oil and Heating oil all higher. Whilst Natural gas sold off hard again, down another 11% … Continue reading “Commodity Traders Weekly Outlook: Platinum Surges as Natural Gas Slumps Again”
Commodity Traders Weekly Outlook: Heating Oil and Natural Gas Rebound as Palladium Collapses
Commodities saw a big bounce in energy with heating oil bouncing 12.19% on the week and Natural gas, oil and gasoline all up over 4%. The Bloomberg commodity index increased 0.9% (up 13.7% y-t-d). Wheat futures higher for the week but lower Friday as funds continue to be short Chicago wheat on slow demand for US wheat and chatter of higher Russia and Australia supplies. Silver and copper both gave back some of last week’s gains. Palladium prices collapsed as … Continue reading “Commodity Traders Weekly Outlook: Heating Oil and Natural Gas Rebound as Palladium Collapses”
Commodity Traders Weekly Outlook: Soybeans Rise; Oil, Heating Oil and Gasoline Crash
A mixed week for commodities with oil breaking down more getting all the attention. The Bloomberg commodity index dropped 2.4% (up 12.7% y-t-d). The USDA WASDE report was a big influence on grains, Soybean Meal, Soybeans and Canola among the leaders with Wheat and Oats amongst the weakest, while Corn hung in near unchanged. Silver and copper were again solid this week on supply concerns. Gasoline, Brent and WTI crude and heating oil were all the laggards all down around … Continue reading “Commodity Traders Weekly Outlook: Soybeans Rise; Oil, Heating Oil and Gasoline Crash”
Soy Complex Futures Close Week Mixed, Soybean Lower with Soymeal and Soyoil Higher
Soybean futures closed down 0.32% on the week, consolidating after being strongest grain in the past week. Soy complex closed higher on the week with support from soymeal (+1.6%) and soyoil (+0.48%). Uncertainty about soybean purchases by China, the world’s largest buyer of soybeans continues to keep prices in check. China will auction off another 18.4 million bushels of its state reserves of imported soybeans on November 11. South Korea purchased 120,000 metric tons of soymeal, likely sourced from China … Continue reading “Soy Complex Futures Close Week Mixed, Soybean Lower with Soymeal and Soyoil Higher”
Soybean Futures Spat July Lows with Support from Soymeal and Soyoil
Soybean futures along with canola were the strongest grains in the past week. Soybean prices closed higher Friday with support from soymeal (+1.0%) and soyoil (+1.5%). Uncertainty about soybean purchases by China, the world’s largest buyer of soybeans continues to keep prices in check. China continues to sell part of its state imported soybean reserves and has been routinely selling throughout the year to keep local supplies boosted and cool high prices. Weather patterns in Brazil and Argentina will be … Continue reading “Soybean Futures Spat July Lows with Support from Soymeal and Soyoil”
Soybean Futures Recover off July Lows on Uncertainty About Chinese Purchases
Soybean futures recovered some of the heavy selling on Friday after prices fell to their lowest since late July Thursday. November futures added 7.75 cents to $13.6575, with January futures up 6.5 cents to $13.77. Uncertainty about soybean purchases by China, the world’s largest buyer of soybeans, kept prices in check. China continues to sell part of its state imported soybean reserves and has been routinely selling throughout the year to keep local supplies boosted and cool high prices. Weather … Continue reading “Soybean Futures Recover off July Lows on Uncertainty About Chinese Purchases”
Soybean Futures Fall on Larger Than Expected NASS Stocks
Soybean prices fell Friday down over+3% with larger-than-expected soybean stocks. In addition, a likely record-breaking Brazilian crop is beginning to loom as well. Soybean stocks in all positions moved 7% higher from a year ago to 274 million bushels as of September 1. China will once again sell part of its state imported soybean reserves it has been routinely selling throughout the year to keep local supplies boosted and cool high prices. China also announced a plan to reduce port … Continue reading “Soybean Futures Fall on Larger Than Expected NASS Stocks”
Soybean Futures Soften on Fears of a Global Recession
Soybean prices fell Friday down over+2% for the front months putting the futures down for 1.55% the week with fear of a global recession. China will once again sell part of its state imported soybean reserves it has been routinely selling throughout the year to keep local supplies boosted and cool high prices. U.S. Department of Agriculture will release September grain Stocks report next week. Concerns remain for expanding South American production and a slowing U.S. and world economy FAO … Continue reading “Soybean Futures Soften on Fears of a Global Recession”
Soybean Futures Hold onto Gains from Bullish WASDE Report
Soybean prices fell Friday but managed to close higher on the week. Nov beans ended the week a net 36 1/4 cents higher (2.6%) from Friday to Friday. For the week Nov soybeans was 2.6% higher, October soymeal was 3.6% higher and soybean oil was up 3%. USDA’s September WASDE report concluded the U.S. ending stocks estimates were bullish for soybeans. The world ending stocks estimates were seen as also bullish for soybeans. Soybean yield was cut 1.4 bpa to … Continue reading “Soybean Futures Hold onto Gains from Bullish WASDE Report”
USDA Crop Production and World Agricultural Supply and Demand Estimates (WASDE) for September 2022
The USDA Released its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Monday, Sept. 12. Analysts concluded the U.S. ending stocks estimates were neutral for corn and wheat while bullish for soybeans. The world ending stocks estimates were seen as moderately bearish for corn, bullish for soybeans and neutral for wheat prices. The USDA cut corn production 415 million bushels (mb) to 13.94 billion bushels (bb) and cut soybean production 153 mb to 4.378 bb … Continue reading “USDA Crop Production and World Agricultural Supply and Demand Estimates (WASDE) for September 2022”