Morning Grain Comments, 12/23/2015

Wednesday, December 23, 2015

It’s a cautiously positive commodity market overall for some reason today, with the grains taking a break from an ugly week thus far; Mato Grosso has seen scattered rains thus far but has a couple days of chances left.

Egypt’s GASC is looking for wheat for January 21-31 shipment this morning; they last bought 240k tonnes from France, Russia, and Romania for Dec 21- 31 on Nov 25th. Their lowest offers (sans freight) today interesting came from Argentina, with 60k cargoes offered just below $175 and $177/tonne.

Russia’s Phytosanitary head said the country could supply up 1 MMT of grain to China in 2016, following shipments of 550k tonnes of soybeans, corn, and rapeseed to China in 2015. Meanwhile, Syria bought 200k tonnes of Russian wheat in a tender last night, priced at $186/tonne C&F for January shipment.

South Korea’s NOFI is looking for up to 207k tonnes of corn and 69k tonnes of wheat for May-June-July arrival, all optional-origin, while the country’s corn processors (KOCOPIA) are seeking 55k tonnes of optional-origin corn for April arrival, and the Korean Agro-Fisheries and Food Trade Corp bought 120k tonnes of U.S. soybeans for arrival in 2016 and 2017. They will re-issue for beans next week since they had originally sought 170k tonnes, but rejected some offers due to a lack of qualified bids.

This afternoon’s USDA Hogs & Pigs Report is expected to show all U.S. hogs as of December 1 at 101.5% of last year, with breeding hogs seen at 100.8% of LY and hogs kept for marketing at 101.6% of last season.


Today’s chart is an update on the March corn seasonal, including the three and five-year averages and recent years;
the current CH6 has managed to trade in less than a 20-cent range in the last six-plus weeks (since the Nov USDA), and less than a 35-cent range since the Oct edition. Last year actually saw CH5 peak on 12/29 at $4.17/bu, before sinking through Jan and expiring very close to CZ6’s current level


Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.