About GrainSquawk
GrainSquawk debuts as an invaluable source of news and information for commodity traders, brokers, and other financial professionals involved in 21st century electronic grain trading.
GrainSquawk will originate Monday-Friday from a full-scale digital trading arena constructed with the explicit purpose of cultivating the ultimate electronic trading environment.
Encased in a soundproof infrastructure designed to enhance the focus and concentration of traders, the facility boasts a broad range of attributes spanning from complete automation through Control 4 to multiple levels of Internet redundancy and power backup.
At GrainSquawk, real-time information, data feeds, and market analysis are gleaned from the best networks available to provide the best commentary possible.
Broadcasting in the presence of skilled, experienced traders, GrainSquawk is buoyed by veteran financial and broadcasting professionals who augment the range of GrainSquawk’s myriad attributes with their individual expertise.
The voice of GrainSquawk is Michael Essany, member of the Chicago Board of Trade, bestselling author, and veteran broadcaster who boasts international broadcasting credentials including work on the BBC and CNN.
7/22/09 - NASS to Collect Additional Acreage Data
In response to variable weather conditions in key crop-growing regions, the National Agricultural Statistics Service (NASS) is collecting updated information on 2009 acres planted to corn and sorghum prior to the August 12 Crop Production report.
The June 30 Acreage report included estimates of 2009 planted area for principal crops, based on data collected from producers in early June. To ensure that the August forecasts accurately reflect any changes in planted acreage since June, NASS will expand its routine data collection activities in late July and early August.
The agency will ask growers to update their reported acres planted to corn in seven states: Illinois, Indiana, Kentucky, Missouri, North Dakota, Ohio and Pennsylvania. Growers in Illinois and Missouri will also be asked to update their reported acres planted to sorghum.
6/19/09 - Sir Allen Stanford Now in Federal Custody
Sir Allen Stanford is in federal custody this morning.
The Texas real estate mogul was arrested shortly following his indictment in what has been dubbed a "massive" Ponzi scheme.
Maybe he can share a cell with Bernie Madoff.
Source: CNBC
6/5/09 - Putting The Baltic Dry Freight Rally into Perspective
Much attention has been given of late to the nearly month long surge in the Baltic Dry Freight Index.
As a widely quoted guide to ocean freight rates and a valid barometer of global trade and economic stability, it's important, however, to keep the latest surge in perspective.
As the chart (courtesy of our friends at AgResource) illustrates, the Baltic Freight peaked in mid May 2008 at 11,793 before crashing to a low of 663 by late last year.
Dry freight has since recovered to as high as 4,291. But it's a drop in the bucket compared to where we once were only a short time ago.
5/27/09 - Beans Hit Eight Month High on Record China Shipments
Soybean futures rose to the highest in eight months in Chicago on concern record imports by China, the world’s biggest buyer of the oilseed, will erode global supplies as delays in U.S. plantings threaten to curb yields.China’s soybean imports in May could exceed 4.5 million metric tons, the China National Grain and Oils Information Center said in a statement today. Inbound shipments may reach 4.2 million tons in June and exceed 3 million tons in July and August, it said. Imports were a record 13.9 million tons in the first four months of the year, according to the customs office.
“China came to the market with record imports” of commodities including soybeans and metals, Jonathan Barratt, managing director at Commodity Broking Services in Sydney told Bloomberg News today. That has helped lift global demand “at a time when you’d expect to see limited demand,” he said.
Soybeans for July delivery rose as much as 0.8 percent to $11.95 a bushel, the highest price for the most-active contract since Sept. 26. The contract traded at $11.925 a bushel at 3:20 p.m. Singapore time.
Plantings of soybeans, corn and wheat in the U.S. have been behind the average in the previous five years as wet weather made fields too muddy for heavy farm machinery.
Soybean planting in the U.S. as of May 24 was 48 percent finished, compared with 49 percent a year earlier, the Department of Agriculture said yesterday. The five-year average for the date was 65 percent.
5/26/09 - US Grains Dip on Dollar Rise
U.S. grains dipped on Tuesday in the wake of a firmer dollar cutting U.S. goods' competitiveness on world markets and weaker crude oil futures adding pressure on soybeans and corn.
"It's all linked to the dollar, with additional pressure from the fall on stock markets," a European trader said, stressing that all commodities were "in the red", even metals.
World stocks fell on Tuesday with Asian shares leading the way as tension about North Korean nuclear tests added to questions over the global economic outlook.
The dollar rose broadly, particularly after a media report questioning the health of the German banking system prompted traders to trim bets against the currency that had driven it to a five-month low last week.
Chicago Board of Trade wheat futures have rallied as much as 18 percent in May on fresh inflows of money into commodities and a delay in sowing for the spring crop but analysts saw prices wane on pressure from the upcoming winter wheat harvest.
"I don't see too much upside for the wheat market," said Toby Hassall, an analyst with Commodity Warrants Australia.
"We still do have concerns over spring wheat planting, but at the same time we should start to see pressure from the harvest of the winter crop," he added.
