1 · The bottom line
The latest read in a few sentences: what changed, what it means and what to do. Written for a reader with five minutes before a call.
2 · Direction calls and scoreboard
A 1–3 month direction for each product, with its main reasons and main risk, next to the 17-driver scoreboard.
3 · Prices, curves and physical premiums
Futures, forward curves, crush and spreads next to FOB and CIF offers by origin. You see where the board and the cash market disagree.
4 · Fundamentals and flows
WASDE and CONAB balance sheets, US stocks, stocks-to-use, export commitments by week and Brazil's shipments to China and the rest of the world.
5 · Demand drivers
China's crush and imports, hog prices and the sow herd, and soybean oil used in US biofuels. These move meal and oil before they move beans.
6 · Crop and weather
Condition ratings and harvest pace against their averages, rainfall versus normal by growing region, two-week forecasts and the historic link between rain and yield.
7 · Positioning and technicals
Managed-money positions since 2018, plus moving averages, Bollinger bands, channels, MACD, RSI, stochastics and ATR for the active contracts.
8 · News, risks and the calendar
The policy and trade news that matters, why it matters to buyers and sellers, and the dated reports to watch next.