The grain trade softens overnight. Grain trade is under pressure this morning, with wheat leading the weakness. Soybeans are trying to find support as weather models continue to indicate a dry finish to the growing season. While no significant soybean production losses are expected, given current balance sheets, the complex cannot afford yield losses of…
Cattle Won’t Back Down Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1113361953 Cattle: Live and feeder cattle resilient despite health scare headlineBoxed beef up over $6 supports higher live cattle bidsOctober cattle could test 242, feeders eyeing 370 to 372Timing window for seasonal top still open into mid September Hogs: December hogs punched new…
Beans bounce on hopeful trade talks. Grains are mixed this morning, while soybeans get another firm bounce as the Wall Street Journal put out a story that a senior Chinese Trade Negotiator will be traveling to meet with US officials later this week. Speculation is that the visit is related to a desire by the…
Grains are starting the week firm The grain trade is starting out with a firm start for the week. The trade is digesting the smaller yield estimates from the Pro Farmer crop tour than what we had from the latest USDA WASDE report. This reduction has only elevated market disagreements on US crop potential. While…
Cattle On Feed On Feed: 98.4% vs 98.1% estimatePlaced: 93.9% vs 91.2% estimateMarketed: 94.3% vs 94.1% estimate Placement number slightly negative to pre-report estimates.
EPA to make SRE announcement today. Wheat and corn ended the overnight session trading in a mixed, mostly steady range, while soybeans continued to climb, setting new highs in their recovery trend. Much of the strength in the soy complex was sparked by a sharp increase in export basis yesterday, which signaled improving demand. At…
Oops, The USDA Did It Again Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1112083933 Corn: Prices up over 20 cents in a week, breaking resistance Pro Farmer tour shows weaker ear length, kernel depth, crop variability USDA yield assumptions questioned, especially on Southern acres Exports 860,000 MT, above highest estimates December corn holding above…
Big exports are meeting a big crop. Futures are higher this morning with grain on the plus side. Fresh news is light this morning, as it has been all week. Crop tour results continue to point out good yields, but not the level needed to reach current USDA production estimates. More cases of corn disease…
Grains are mixed to start the morning. It’s a mixed morning for trading, wheat again pushed to a new low by a few pennies, just to recover to settle out mixed in the morning. Meanwhile, corn and beans are fractionally softer. The Pro Farmer crop tour continues to find big yields, which is unsurprising. Though…
Turnaround Tuesday is softening the corn price. This morning’s grain trade is mostly lower, with corn turning softer after a four-day bounce, while beans are also starting to relax. Soybeans are finding support from a soybean meal market that continues to see the exodus of a massive index short position caught on the wrong side…
