Grain Express 1/5/23
Posted: Jan. 5, 2023, 1:43 p.m.
Export Sales
Due to the markets being closed on Monday, the weekly export sales report will be out tomorrow morning.
Private Exporters
Private exporters reported sales of 124,000 metric tons of soybeans for delivery to unknown destinations during the 2022/2023 marketing year.
Economic Data
Initial jobless claims came in at 204,000. Analysts were expecting 225,000.
A Look at the Outside Markets
The equity markets are lower following a better than expected jobless claims number. Crude oil is up a dollar, but about a dollar of the highs, 73.81 is the last trade. The US Dollar is up .57% to 104.60.
Corn (March)
Managed Money Position: 163,666
(Updated with the weekly CoT Report)
Seasonal Trend in Play: None
Next Seasonal Trend Start Date: January 13th
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Below is a daily chart of March corn futures |
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Soybeans (March)
Managed Money Position: 128,616
(Updated with the weekly CoT Report)
Seasonal Trend in Play: March soybeans have trended higher from November 16th to January 9th for 14 of the last 15 years.
Next Seasonal Trend Start Date: January 31st
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Wheat (March)
Managed Money Position: -59,311
(Updated with the weekly CoT Report)
Seasonal Trend in Play: None.
Next Seasonal Trend: March KC Wheat, Starts on January 10th.
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