FI Grain Market Update + Calls 02/20/23

PDF Attached

 

Calls:

Soybeans:
3-7 cents higher

Soybean
meal: $1.00-$3.00 higher

Soybean
oil: 15-30 points higher

Corn
1-3 cents higher

Wheat:
Steady to 4 higher

 

Headlines
below

 

Estimate
of fund positions

 

Weather

 

Bloomberg
Ag calendar

Monday,
Feb. 20:

• MARS
  monthly report on EU crop conditions
• Malaysia’s
  Feb. 1-20 palm oil export data
• HOLIDAY:
  US, Argentina

Tuesday,
Feb. 21:

• Suspended
  until February 24 – CFTC commitments of traders

• National
  Farmers’ Union Conference, Birmingham, UK, day 1
• Grain
  Forum Dubai 2023, day 1
• New
  Zealand global dairy trade auction
• USDA
  export inspections – corn, soybeans, wheat, 11am
• EU
  weekly grain, oilseed import and export data
• HOLIDAY:
  Argentina, Bangladesh

Wednesday,
Feb. 22:

• National
  Farmers’ Union Conference, Birmingham, day 2
• Grain
  Forum Dubai 2023, day 2
• USDA
  total milk production, 3pm
• US
  poultry slaughter, 3pm

Thursday,
Feb. 23:

• USDA’s
  acreage outlook for corn, soy, wheat and cotton
• The
  USDA’s Agricultural Outlook Forum, Arlington, day 1
• EIA
  weekly US ethanol inventories, production, 10:30am
• Port
  of Rouen data on French grain exports
• Sugar
  production and cane crush data from Brazil’s Unica (tentative)
• USDA
  red meat production, 3pm
• HOLIDAY:
  Russia

Friday,
Feb. 24:

• USDA’s
  full outlook for corn, soy, wheat and cotton

• The
  USDA’s Agricultural Outlook Forum, Arlington, day 2
• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef, 8:30am
• ICE
  Futures Europe weekly commitments of traders report
• CFTC
  commitments of traders weekly report on positions for various US futures and options, 3:30pm
• FranceAgriMer’s
  weekly crop conditions reports
• US
  cattle on feed, 3pm
• US
  cold storage data for beef, pork and poultry, 3pm

Source:
Bloomberg and FI