French milling wheat tumbles to new 19 month lows. Grain futures moved lower overnight after an initial firm start, with French milling wheat leading the decline in the early morning hours, declining $7.00/MT (20 cent Bu equivalent), putting heavy pressure on wheat, extracting their 10-day gains from the March 10 low. Weakness in wheat spilled…
Grain prices trade higher in the early morning hours. Grain prices firmed overnight on the lack of outside risk-off liquidation. Overnight outside markets reflect a calm, as money has been found to be thrown wherever there was trouble, with the US dollar heading lower ahead of the onset of the Fed meeting today and Wednesday…
Spec trade: Buy June cattle at the MKT, 156.20 last, with a 154.70 stop.
Grain prices lower on macro risk-off mentality again. Grain prices retreated overnight, with soybeans pressing to new calendar lows as macro markets headed lower overnight, while gold burst through $2000 overnight briefly for the first time since March 2022 before retreating into the 1980 range. Risk-off trading is again in vogue as UBS needs to…
Cattle On Feed On Feed: 96% vs 95.6% estimate Placed: 93% vs 93.9% estimate Marketed: 95% vs 95.8% estimate Cattle numbers are mixed for Monday’s opening with placement’s slightly friendly while marketings a little less than expected.
Overnight grain strength muted with new outside market concerns. Grain futures pushed higher early last evening, with corn gapping higher on the release of the COT report showing a sharp drop in corn length of 140,000 contracts. This is much larger than expected as the CFTC is catching up on managed money positions. This drop…
Outside market influences send grain prices lower overnight Sunday night, the grain trade opened higher, which was the end of it, as macroeconomic nervousness brought about selling throughout the commodity sector, except for metals pushing higher as the dollar declined. Despite the horrible weather experienced in Argentina over the weekend, the market focused on another…
Grains slip further after weak Thursday technical close Grain futures are mixed at the close of the night session after a mostly lower trade that found buying interest on the US dollar break after the release of the US jobs number. A poor technical trade performance on Thursday after BAGE Argentina released new low crop…
Grains slightly rebound after USDA report selling. With 9 days remaining to finalize a deal on the Ukrainian grain corridor, there is a meeting in Geneva, Switzerland next week to discuss details of the deal. Russia demands grain to flow to countries in need and that restrictions on their own grain be lifted. Yesterdays USDA…
USDA Report 3/8/23 USDA report was friendly for soybeans as the Argentine crop was cut more than expected for both soybeans and corn. Domestically corn stocks were increased due to a jump in yield again for last year’s crop and cut demand by 75 Mil Bu. Soybean exports were raised by 15 Mil Bu but…