Kleist Comments



Exports: So.Korea buys 63,000t opt/org.; Japan buys 92,000t feed wheat/barley; Taiwan buys 60,000t Brazil corn.

Comments: Consider: funds DID buy their usual, 3-day action with open interest up another 11,500; for the 3-days open interest rose 37,500+ while (using) the December’s Monday high of $4.62 and consider this: basically a 2-day low at $4.35 Tues./Wed…..by itself not much bang for the funds short bucks but also, the ‘new’ fund selling did not seem to kick in until December violated the old swing low of $4.48; that’s an awful lot of new shorts in a very compressed area and keeps me from pressing the shorts as mentioned all week. Close back over $4.50 might trigger shortcovering. Otherwise, rains to further disrupt harvesting, and current harvesting still reports very good yields.


Exports: None Visible.

Comments: Rains coming in and with it more harvest delays though yes, bigger yields still being reported; CPO in Asia WAS effected by the USDA shut down…but via the U.S. $ action; southern U.S. soybeans weather favorable for harvest, Midwest some rains help late filling plants; China still on holiday but their stock market higher on bullish service sector news data to a 6-month high (U.S. beans like good economic news out of China generally); soyoil deliveries 1608; open interest little changed in total even as Nov. drops 8,515 amid moderate volume. Holding calls, needing a close over back $13.00 to perhaps pop some shorts.


Exports: Japan buys 118,5005 (U.S. share 72,500t).

Comments: U.N.’s FAO lowers world cereal grain production by 3.0mln.m/t’s…no big deal but another ‘piece’ of bullishness; Argentina’s wheat crop facing more crop trouble on cool, dry weather (more Brazil business to the U.S.?); heavy rains in Ukraine slow plantings and exports; StatsCanada tomorrow expected to show a large crop; open interest rose 1,880 amid light volume. No opinion change.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

Disclaimer: Trading options and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.