Grain prices continue their recovery. Grain futures were higher overnight, with focus now on increasing demand with the supply guesses fully known. Profit margins for soy crushers, ethanol producers and livestock produces as well are greatly enhanced at present prices and are being acted upon. Chinese crush margins are at multi-year highs and will bring…
US dollar below 94.00 brings risk on mentality Grain futures are on the mend overnight, as end-user pricing became evident after funds steamrolled the market lower yesterday into significant technical support values for corn. Apparent yesterday is the selling was not cash-led. Wheat prices recovered as French milling wheat turned back higher overnight, presently up…
Spec Trade: Buy a Dec KC Wheat at 720.4 GTC with a 714 stop. Trendline support held. Lower the stop on Long Bean Oil to 58.32.
Spec Trade: Buy a Dec Bean Oil at the MKT, 59.36 last with a 58.62 stop.
Vegoils turn higher overnight. Grain futures are mixed this morning with soybeans holding psychological $12 and bouncing as rapeseed and canola markets turned sharply higher along with bean oil creating a lift for beans on the crush. Cash rapeseed in Europe is now quoted at $0.80 per pound with anticipation that world soy oil demand…
USDA WASDE Report 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
WASDE 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
Spec Trade: Buy Dec Chicago Wheat at the MKT, 735 last with a 719 stop.
Grain futures start new week firm. Grain futures started lower Sunday night but quickly found end-user pricing that turned corn, beans, and wheat back higher, as crude oil raced to new 7-year highs over $81.00. European corn and wheat futures moved to new contract highs, with spot corn hitting $7 .38 and wheat $8.50. RBOB…