ken morrison
@morrisonmkts.bsky.social
commodities; mostly of the agricultural kind
58% of the 400 ag producers surveyed monthly by Purdue say use of tariffs will make agriculture stronger, more than 2x the # who believe tariffs weaken U.S. agriculture
November 5, 2025 at 2:06 PM
58% of the 400 ag producers surveyed monthly by Purdue say use of tariffs will make agriculture stronger, more than 2x the # who believe tariffs weaken U.S. agriculture
BBG Commodity Index: Precious metals at 18% weight of the index have been a big part of this rally . Rallies have failed here 6x in the past 3 years. 7 ? TBD
October 23, 2025 at 9:30 PM
BBG Commodity Index: Precious metals at 18% weight of the index have been a big part of this rally . Rallies have failed here 6x in the past 3 years. 7 ? TBD
Gold: It will be important to see if volume in the lead-month December contract exceeds Friday's 570k, the largest volume since January 2020.
October 21, 2025 at 2:09 PM
Gold: It will be important to see if volume in the lead-month December contract exceeds Friday's 570k, the largest volume since January 2020.
Bunge : 52-week high Wednesday on better-than-expected earnings revision
October 16, 2025 at 12:01 PM
Bunge : 52-week high Wednesday on better-than-expected earnings revision
Live Cattle: Closed higher 8 consecutive days, longest upside streak since June 2023 (9 days). Open interest has declined 10k contracts on this rally indicating short-covering has dominated the $-flow.
October 15, 2025 at 2:14 PM
Live Cattle: Closed higher 8 consecutive days, longest upside streak since June 2023 (9 days). Open interest has declined 10k contracts on this rally indicating short-covering has dominated the $-flow.
Farmer's Expectations for a Bailout & Views about use of Tariffs (Purdue University survey taken mid-September)
October 8, 2025 at 9:39 PM
Farmer's Expectations for a Bailout & Views about use of Tariffs (Purdue University survey taken mid-September)
Here's a more important reason why Senators should be discouraged & why U.S. soybean trade to China will never be what it once was. Brazil's production soared immediately after Trump's 2018/2019 Trade war.
October 3, 2025 at 4:24 PM
Here's a more important reason why Senators should be discouraged & why U.S. soybean trade to China will never be what it once was. Brazil's production soared immediately after Trump's 2018/2019 Trade war.
As it currently stands, this is what healthcare costs in Rural America is likely to resemble in 2026 vs. 2024.
October 3, 2025 at 4:07 PM
As it currently stands, this is what healthcare costs in Rural America is likely to resemble in 2026 vs. 2024.
Who's going to tell Senator Ernst even our current non-China markets are buying fewer U.S. soybeans ? Here's why: Brazil soy production has soared since Trump's first Trade War.
October 3, 2025 at 1:28 PM
Who's going to tell Senator Ernst even our current non-China markets are buying fewer U.S. soybeans ? Here's why: Brazil soy production has soared since Trump's first Trade War.
USDA Data is Moving:
September 30, 2025 at 12:59 PM
USDA Data is Moving:
BBG: Shipping Fees coming soon on China vessels calling at U.S. Ports
September 18, 2025 at 1:04 PM
BBG: Shipping Fees coming soon on China vessels calling at U.S. Ports
BBG: China's monthly soybean imports. There have been no U.S. soybean shipments to China since May & there are currently no sales to China as they turned to Brazil for soybean supply.
September 15, 2025 at 12:00 PM
BBG: China's monthly soybean imports. There have been no U.S. soybean shipments to China since May & there are currently no sales to China as they turned to Brazil for soybean supply.
U.S. Ag Trade to China: When the forecast for the smallest trade in 18 years looks optimistic
September 9, 2025 at 1:02 PM
U.S. Ag Trade to China: When the forecast for the smallest trade in 18 years looks optimistic
Crude Oil: At Resistance
September 2, 2025 at 5:21 PM
Crude Oil: At Resistance
Soymeal: All-time record volume Wednesday . Declining open interest on the rally indicates short-covering dominated the $-flow. Managed-$ funds have recently been record net-short soymeal futures & options.
August 21, 2025 at 11:37 AM
Soymeal: All-time record volume Wednesday . Declining open interest on the rally indicates short-covering dominated the $-flow. Managed-$ funds have recently been record net-short soymeal futures & options.
Ag Sec. Rollins on USDA's Report
(so nobody's getting fired for bearish corn production report ?)
(so nobody's getting fired for bearish corn production report ?)
August 12, 2025 at 6:34 PM
Ag Sec. Rollins on USDA's Report
(so nobody's getting fired for bearish corn production report ?)
(so nobody's getting fired for bearish corn production report ?)
Corn: Another rare 3 s.d. daily price-move, yesterday was beans. With 90 minutes to go, volume has already a new high for this contract as price makes a new contract-low.
August 12, 2025 at 4:56 PM
Corn: Another rare 3 s.d. daily price-move, yesterday was beans. With 90 minutes to go, volume has already a new high for this contract as price makes a new contract-low.
Soybeans: Today's intra-day high of $10.15 is a 3 s.d. daily-price move, rare for any market.
August 11, 2025 at 5:26 PM
Soybeans: Today's intra-day high of $10.15 is a 3 s.d. daily-price move, rare for any market.
Oil: Crude closed lower today; the 7th consecutive day lower, something it has not done since April 2020
August 8, 2025 at 7:15 PM
Oil: Crude closed lower today; the 7th consecutive day lower, something it has not done since April 2020
BBG Commodity Index: Gold & Copper are 14% & 5% of the index weight respectively
August 1, 2025 at 12:24 PM
BBG Commodity Index: Gold & Copper are 14% & 5% of the index weight respectively
Copper: Buyers who have held since June 1 are underwater
July 30, 2025 at 6:32 PM
Copper: Buyers who have held since June 1 are underwater
Bunge: Beat Q2 earnings ests. on better than expected crush margins. Margins in the first 4 weeks of Q3 are about 35% better than the Q2 average.
July 30, 2025 at 4:53 PM
Bunge: Beat Q2 earnings ests. on better than expected crush margins. Margins in the first 4 weeks of Q3 are about 35% better than the Q2 average.
Crude: Leaking a bit
July 16, 2025 at 3:48 PM
Crude: Leaking a bit