Content ID


3 Big Things Today, March 18

Crop Futures Little Changed Overnight; Bearish Corn Bets Highest in at Least Five Years.

1. Soybeans, Corn Little Changed Overnight

Soybeans and corn were again little changed overnight as the U.S.-China trade talks drag on with apparently no end in sight.

President Donald Trump said last week that he was in no hurry to close a deal, for which a March 1 deadline came and went.

The president and his counterpart, Chinese President Xi Jinping, were supposed to meet this month to finalize an agreement, but it’s unclear whether that will happen.

Talks for several weeks seemingly went well, and negotiators are reportedly in the final stages of writing up a deal, but both Washington and Beijing have been tight-lipped on progress.

Soybeans for March delivery fell 3¢ to $9.06¼ a bushel overnight on the Chicago Board of Trade. Soy meal lost 60¢ to $310.20 a short ton, and soy oil dropped 0.04¢ to 29.39¢ a pound.

Corn for March delivery was unchanged at $3.73¼ a bushel in Chicago.

Wheat for March delivery fell 4¼¢ to $4.58 a bushel, while Kansas City futures declined 1¾¢ to $4.41¼ a bushel.


2. Bearish Bets on Corn Highest in at Least Five Years, Soybean Net Shorts Largest in 14 Months

Money managers boosted their net-short positions, or bets on lower prices, in corn to the highest level in at least five years, and soybeans in the seven days that ended on March 12, according to the Commodity Futures Trading Commission.

Investors were net short by 282,981 corn futures contracts last week, the largest amount in at least five years, the CFTC said in a report. That’s up from 192,847 futures contracts the previous week.

Money managers were net short by 89,050 soybean futures contracts as of last Tuesday, the biggest such position in the oilseeds since the seven days that ended on January 16, 2018, government data show.

Speculators have been becoming more bearish on corn and soybeans in recent weeks amid ongoing trade talks between the U.S. and China that have dragged on without a definite end in sight and on growing global production and exports.

For wheat, investors increased their bearish bets to 75,778 soft red winter futures contracts last week, up from 73,919 contracts the prior week, the CFTC said. They also boosted their net-short positions in hard red winter wheat to 51,350 futures contracts from 46,678 a week earlier.

The Weekly Commitment of Traders Report from the Commodity Futures Trading Commission shows trader positions in futures markets.

The report provides positions held by commercial traders, or those using futures to hedge their physical assets; noncommercial traders, or money managers (also called large speculators); and nonreportables, or small speculators.

A net-long position indicates more traders are betting on higher prices, while a net-short position means more are betting futures will decline.


3. Third of Nebraska Under Water as Precipitation, Melting Snow Send Rivers Over Banks

A third of Nebraska is under water after a combination of rainfall and melting snow sent rivers, streams and tributaries over their banks.

The Missouri River has overflowed in several areas from Omaha south to Rulo. The Platte River also has flooded several towns in the state.

Two people have died and dozens of towns affecting tens of thousands of homes are mostly or completely under water, as are several major interstates and highways.

The Missouri River is expected to reach 47 feet near Brownsville, Nebraska, which is about 70 miles south of Omaha, according to KMTV news.

Read more about
News or

Tip of the Day

Lower steps to grain drill platform

Smaller steps to grain drill platform After I became unable to step up on the back platform of my grain drill, I built a short ladder and attached it to the platform. At 31... read more

Talk in Marketing

Most Recent Poll

Will you have enough on-farm storage for harvest?

I just want to see the responses
46% (26 votes)
39% (22 votes)
No, it’s going to be a bin-buster
7% (4 votes)
Maybe, depending on yields
5% (3 votes)
No, I am looking at new bins or temporary storage
4% (2 votes)
Total votes: 57
Thank you for voting.