Grain Express 2/10/23

Posted: Feb. 10, 2023, 8:06 a.m.

2.10.23 RFD Clip

Oliver Sloup discusses the recent grain trade with Scott the Cow Guy on RFD-TV.

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Yesterday's Weekly Export Sales

  • Corn: net sales of 1,160,300 MT (45,678,980 bushels) for 2022/2023 were down 27 percent from the previous week, but up 19 percent from the prior 4-week average.  
  • Soybeans: net sales of 459,400 MT (16,880,055 bushels) for 2022/2023 were down38 percent from the previous week and 49 percent from the prior 4-week average.
  • Wheat: net sales of 131,400 MT (4,828,122 bushels) for 2022/2023 were down 4 percent from the previous week and 56 percent from the prior 4-week average.

A Look at the Outside Markets

  • Equity markets are under pressure, crude oil is higher, popped its head above $80 but is nearly $2 off those highs, and the US Dollar is on the rise, trading to 103.43.

 

Corn (March)

 

Managed Money Position

Updated each Friday with the weekly CoT Report

  • Delayed by the CFTC.

Seasonal Trend in Play

  • None
  • ZCH2023_2023-02-10_07-08-26
  •  

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Soybeans (March)

 

Managed Money Position

Updated each Friday with the weekly CoT Report

  • Delayed by the CFTC.

Seasonal Trend in Play

  • March soybeans have firmed from January 31st to February 12th for 13 of the last 15 years.  The average gain has been about 19 1/2 cents.  For a more in-depth breakdown of this seasonal, reach out to our trade desk or email Seasonals@BlueLineFutures.com.
  • ZSH2023_2023-02-10_07-18-00

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Wheat (March)

 

Managed Money Position

Updated each Friday with the weekly CoT Report

  • Delayed by the CFTC.

Seasonal Trend

  • May Chicago wheat futures have trended lower from February 7th through April 7th for 13 of the last 15 years.  The average decline is roughly of 15 cents.  Last year was one of the off-trend years, due to Russia's invasion of Ukraine.  That brought the average gain down.
  • ZWH2023_2023-02-10_07-22-13

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Grains Soybeans Corn Wheat

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