Morning Softs. 08/16/17

On August 16, 2017 - 10:14 AM By

COTTON
General Comments: Cotton was lower on good weather forecasts for the crop amid already very high production projections from USDA. A higher US Dollar hurt demand ideas. Current forecasts call for some rains in Texas to boost crop prospects there. Conditions showed mixed trends in the USDA reports last night as some areas […]

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[Daniel J. Graeber, UPI] The amount designated for sale would be about 5 million barrels more than total national daily output. The U.S. Department of Energy said it plans to sell some of the oil from the Strategic Petroleum Reserve, the world’s largest emergency supply of oil. The department’s Office of Fossil Energy said the […]

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We jumpstart the day with Housing Starts and Permits at 7:30 A.M., EIA Energy Stocks at 9:30 A.M. and Dairy Product Sales at 2:00 P.M. The Grains took another pummeling in yesterday’s action. And one would have to ask, “How much more downside is there”? I am guessing with hot humid weather the next couple […]

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In the battle between the bulls and the bears, the one trend that remains constant is the trend of falling US crude oil supply. Once again, the crude oil supply drops far exceeded market expectations and according to data from the American Petroleum Institute, fell by 9.2 million barrels last week. That drop in supply […]

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[Daniel J. Graeber, UPI] Crude oil prices moved deeper into negative territory early Tuesday as market watchers looked further out in the future to a pending slowdown in U.S. refining. Crude oil prices suffered a dual blow Monday from steady, though at times shaky, production recovery in Libya and from a report of an expected increase in […]

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Morning Grains. 08/15/17

On August 15, 2017 - 11:49 AM By

DJ CBOT Delivery Intentions: Totals – Aug 15
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN MEAL August Aug. 16, 2017 62 Aug 14, 2017
SOYBEAN OIL August Aug. 16, 2017 101 Aug 14, 2017
SOYBEAN August Aug. 16, 2017 19 […]

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Morning Softs. 08/15/17

On August 15, 2017 - 11:45 AM By

COTTON
General Comments: Cotton was lower as the market reacted to good weather forecasts for the crop amid already very high production projections from USDA. Current forecasts call for some rains in Texas to boost crop prospects there. Conditions showed mixed trends in the USDA reports last night as some areas got better and […]

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We kickoff the morning with Business Inventories and Retail Sales at 7:30 A.M., NOPA Crush at 11:00 A.M and API Energy Stocks at 3:30 P.M. The weekly USDA Crop Progress report showed Corn & Soybeans unchanged from a week ago, according to an average of estimates bu 10 analyst polled by Reuters yesterday which Corn […]

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The weak performance from oil yesterday is giving rise to the false notion that oil prices are going to be capped at near $50 forever. The last time we heard that false price cap theory was back in the early 90’s when economist claimed that oil could not trade above $30 a barrel because if […]

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[New York Times via Reuters] Oil prices tumbled more than 2.5 percent on Monday in volatile trade, as dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya. Global benchmark Brent crude futures <LCOc1> settled down $1.37 or […]

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[Myra P. Saefong, MarketWatch] EIA expects a rise of 117,000 barrels in September U.S. shale oil output Oil fell sharply Monday, with concerns over rising crude output from OPEC members and U.S. shale-oil producers pushing prices to their lowest finish in three weeks. Losses for oil intensified after a report from the U.S. Energy Information […]

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[The Times of India via Reuters] U.S. natural gas futures fell more than one percent on Monday on profit-taking after prices crossed the key $3 level for the first time in more than three weeks as warmer-than-normal weather forecasts raised prospects for higher cooling demand. Front-month gas futures for September delivery on the New York […]

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