A Tale of Two Cities Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1203947068/7754472476 Corn: Corn broke below a major multi-year support zone. Trade is increasingly expecting June 30 acreage to remain near 95.5 million acres. A technical breakdown projects downside toward 423-424 if support fails. Soybeans: Soybeans continue to hold key support near the…
The grain trade flounders above recent price lows. Grain Overview Grain futures found support overnight, with corn, soybeans, and wheat all posting gains as traders covered short positions. Wheat futures again followed a familiar seasonal pattern, fading from their overnight highs as the session progressed. Recent selling pressure appears excessive in corn and wheat, leaving…
2-sided trade occurred overnight, as Iran/US talks shifted. Grain Overview Grain futures did open higher last night, with crude oil pushing $78.00 amid vitriol between the US and Iran over reports that the MOU was falling apart. Overnight headlines shifted that, by morning, we have crude oil off $1.31, trading at 74.54, as the Iranians…
Cattle On Feed On Feed: 102% vs 102.5% estimatePlaced: 90% vs 94.5% estimateMarketed: 88% vs 89.4% estimate The report is friendly to pre-report estimates on a friendly placement number
Today is the last trading day of the week before closing for a three-day weekend. Grain Overview After yesterday’s strong performance, corrective action is taking place ahead of a three-day weekend. Markets will close at the regular time today and resume Sunday night at 7:0 p.m. CT. Export sales this morning again showed consistent sales…
Have Grains Decoupled From Crude? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1202248198 Corn: Support continues to hold near 439-441. Trade is focused on the June 30 acreage report. A reduction of 1 million acres could tighten carryout significantly. December corn could recover toward the 470-480 range. China demand headlines remain a major wildcard….
Have Grains Decoupled From Crude? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1202248198 Corn: Support continues to hold near 439-441. Trade is focused on the June 30 acreage report. A reduction of 1 million acres could tighten carryout significantly. December corn could recover toward the 470-480 range. China demand headlines remain a major wildcard….
Have Grains Decoupled From Crude? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1202248198 Corn: Support continues to hold near 439-441. Trade is focused on the June 30 acreage report. A reduction of 1 million acres could tighten carryout significantly. December corn could recover toward the 470-480 range. China demand headlines remain a major wildcard….
Rumors continue about new export demand, with hopes of Chinese new-crop buying. Grain Overview The grain trade firmed substantially overnight, fueled by continued rumors that China may soon purchase new-crop US beans and by potentially lower tariffs that will encourage purchases of corn and wheat. Also, France is experiencing a severe heat wave that is…
Rumors continue about new export demand, with hopes of Chinese new-crop buying. Grain Overview The grain trade firmed substantially overnight, fueled by continued rumors that China may soon purchase new-crop US beans and by potentially lower tariffs that will encourage purchases of corn and wheat. Also, France is experiencing a severe heat wave that is…
You are signed up for a 30 day free trial of the Heartland Newsletter.
Check your email to make sure you you got the welcome email.
