In this file:

 

·         Corn Holds Higher at the Close

·         Beans Rally Into Month-End

 

 

Corn Holds Higher at the Close

 

Alan Brugler, Barchart

Jul 29, 2022

 

Corn futures fought off a late session drop to close the Friday session with gains of 1 to 4 cents. Front months closed 15 to 16 cents off their highs. On the week, Dec corn was up a total of 55 ¾ cents, a 9.88% move. The weekly Ag Energy Roundup report from USDA had the week’s average corn oil price as 63 cents/lb. That compares to 58.5 c/lb last week. 

 

CFTC’s Commitment of Traders data from Friday afternoon showed specs in corn futures and options trading trimming 4,515 contracts from their net long position as of 7/26. That took the total position to net long 120,788 contracts by Tuesday. Commercials cut 17,861 contracts from their net short position to -358,075, the smallest since September 2020. 

 

USDA will release their monthly Grain Crushing data for June after the close on Monday.

 

more, including links

https://www.barchart.com/story/news/9403220/corn-holds-higher-at-the-close

 

 

Beans Rally Into Month-End

 

Alan Brugler, Barchart

Jul 29, 2022

 

Soybeans rounded out the week with the rally pushing August 20 cents from the contract high. On the day, front month futures were up 20 ½ to 30 ¼ cents. That pushed the weekly move for August to +14.12%, with Nov up 11.61%.  Meal futures were mixed on Friday, with contracts anywhere from 70 cents lower to $5.60 higher. BO helped to push things higher, with gains of 129 to 276 points. The B100 cash price for the week was seen as $6.42/gal in IA and $6.65 in the ECB. Last week’s quotes were $6.41 and $6.95/gal respectively. There were zero delivery notices posted on FND for beans, meal or BO. The oldest soybean long is dated 2/2/22. The oldest soybean meal long dates back to 12/23/2020. 

 

Warmer and drier that normal outlooks lingering into the second week of August helped to push the market higher this week.  

 

USDA reported a large export sale to unknown destinations this morning, good for 132k MT of 22/23 beans.  

 

The Friday Commitment of Traders report from CFTC showed managed money spec traders were net long 87,676 contracts of soybean futures and options as of 7/26. That was a slimming of 156 contracts on the week. 

 

more, including links

https://www.barchart.com/story/news/9403224/beans-rally-into-month-end