From the daily archives: Monday, December 18, 2017

[Jessica Summers, Bloomberg] Crude lingered near $57 a barrel for a third day as oil workers in Nigeria suspended a strike and repairs to a crucial North Sea pipeline proceeded apace. Futures slipped 0.2 percent in New York, erasing gains from earlier in the session. Managerial workers in Africa’s second-largest crude-producing nation halted their strike and agreed to reopen […]

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AgMaster Report 12/18/17

On December 18, 2017 - 2:45 PM By

JAN SOYBEANS Early Dec, Jan Beans posted new Fall highs at 1015 off fears that dryness in Argentina & S Brazil would reduce their production.  But subsequent rains in S/A altered the landscape – igniting a 50-cent correction- 20 cents of which happened this week!  Also fueling the break was the Dec USDA Report – […]

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[Daniel J. Graeber, UPI] An OPEC spoiler, the United States, might be seeing some signs ahead of price pressures for shale. The lingering closure of a major North Sea crude oil pipeline network and a strike by Nigerian oil workers sent crude oil prices slightly higher Monday. Pipeline operator Ineos maintains it could be about a […]

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Morning Grains Report 12/18/17

On December 18, 2017 - 10:31 AM By

WHEAT
General Comments: US markets closed slightly lower again in Chicago last week as demand from the export market remains a big problem. Futures also closed lower in Minneapolis, but higher in Kansas City. The weekly charts show that winter wheat price trends remain down, although the markets could be forming a low area. […]

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Morning Softs Report 12/18/17

On December 18, 2017 - 10:03 AM By

COTTON
General Comments: Cotton was higher again last week in response to another week of strong export sales and on ideas that overall demand has been underestimated. USDA aided in these ideas as it increased export demand and cut ending stocks in its monthly supply and demand updates last week. Chart patterns are bullish […]

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Oil prices are on the rise into the holiday as a Nigerian oil worker’s strike and the ongoing problems with the Forties pipeline system lend support. We also have a successful launch of the CME Group’s Bitcoin future as well as a risk-on sentiment as it looks like tax reform will pass and soon be […]

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