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Grains Are Lower on World News


Grains are lower. Interfax reported Russian troops in Belarus are pulling back to barracks. SK is down 11 cents and near 15.62. SMK is near 444.7. BOK is near 65.11. CK is down 8 cents and near 6.46. WK is down 20 cents and near 7.85. KWK is down 20 cents and near 8.11. MWK is down 10 cents and near 9.52.

US stocks are sharply higher. US Dollar is lower. Crude is lower. Gold and silver are lower. Copper, coffee, cocoa and cotton are higher.

Dalian soybeans, soymeal. soyoil and corn are lower. Palmoil is higher. Argentina and south plains forecast are mostly dry. East US HRW could see rains especially OK and TX.

Soybean futures are lower along with rest of the grains on word that Russia troops in Belarus are pulling back to barracks. Russia said maneuvers there are over. Argentina weather forecast is warm and dry over the next 10 days. Estimates for South America soybean production continues to fall. US Ag attaché was a contrarian and estimated the Brazil soybean crop near 134 mmt. One crop watchers lowered his Brazil crop 6 mmt to 124 and Argentina crop 2 mmt to 40. US NOPA Jan soybean crush is estimated at a record 186.6 mil bu vs 184.6 last year.

Corn is lower with CK near 6.46. Here again a Russia/Ukraine war premium is being taken off after word Russia troops in Belarus are being pulled back. Weekly US corn exports were down 13 pct versus last year. USDA is looking for a 12 pct drop. Analyst still looking for an increase is US 2021/22 demand of 320 mil bu vs USDA and a carryout of 1,220.

Wheat futures are sharply lower. A Russia war premium is being taken off on Russia news agency report that Russia may be pulling troops back to barracks that were in Belarus. Weekly US wheat exports were down 17 pct versus last year. USDA is looking for a 18 pct drop.

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