Canola ($RSX21) jumped to NEW 52-week highs today up +27.80 (+3.13%) closing at $916.80s . Today marks the fifth consecutive day in the green for $RSX21 as the contract got as high as $949.00s intraday.
Canola prices continue to shoot through the roof as Read More
Destination prices are higher on moves higher in Texas and the mid-South. Texas received about ¾” of rain late last week across most parts of the cotton belt. This is positive but growers are now looking for more rain to get the crop planted and the 10-day forecast shows Read More
Cottonseed prices are firm across all origins. Ginning is still struggling to begin. Gins are reporting disappointing yields on the first harvested cotton. Tropical Storm Zeta looks like it will make landfall Wednesday and push through the southern cotton belt where additional rain is not needed.
I don’t see any Read More
Cottonseed prices have surged higher at the East Coast, Delta and Texas regions. Soy meal is up another $5-7. Ginning is still delayed due to peanut harvest in the East and rain in the Delta. It appears the upper Mid-West dairies are buying clock cottonseed and willing to pay Read More
Cottonseed prices came off last week as Gavilon decided to put out lower offers. I have talked to many gins in each origin (TX, OK, AR, MO, MS, TN and GA) and have concluded there has been zero gin selling. We have a USDA production report this Wednesday and Read More
Summary: If StoneX’s (INTL FCStone) corn estimate is too high, the median error (in years when the StoneX’s estimate was too high) was 1.6%. Based on StoneX’s estimate of 15,320 Mil Bu, that would equate to about 252 Mil Bu less – – or 15,068 Mil Bu. USDA’s July WASDE corn Read More
From the Desk of – Todd Parker – Penny-Newman Grain
Cottonseed prices are unchanged to start the week. Origin values have traded sideways for the second week. Texas is at $260 old and $250 new, The Delta States are at $225 old and $215 new, and the Eastern States are Read More
Margins improved significantly over the first half of May following a strong recovery in milk prices due to optimism stemming from
government intervention to aid the dairy sector. USDA announced that it would spend $317 million between May 15 and June 30 on
dairy products, and $175 million for food donation Read More
COTTON estimates for 2019/20 are unchanged, except for a 1 cent-per pound reduction in the season-average upland farm price, to 62 cents, 8.3 cents lower than in 2018/19. Globally, the 2019/20 world cotton ending stocks forecasts is bumped higher by +2.5-million-bales driven by both larger production and lower consumption. Read More