WASDE crop report out today at 11:00 a.m. Grain prices moved higher overnight as the NASS reported that the US winter wheat crop was rated 27% GD/EX, which tied the lowest record for crop ratings in early April going back to 1996. Meanwhile, the SRW wheat condition report improved slightly and was 2% above the…
Grains are Mixed for Monday’s start. Grain prices are mixed this morning after wheat and soybeans had seen gains overnight. Kansas wheat was up early in the session as much as $0.17, as a lack of meaningful rain for the southern and central plains remains void for another 10 days. However, overnight strength was not…
Soybeans tumble back under $15.00. Thursday morning’s grain trade is mixed with row crops lower ahead of the long Easter weekend which has grains closed for Good Friday and will reopen Easter Sunday evening. Weather forecasts call for a quick warming trend across the central US which starts this weekend and extends in the mid-April…
Grain futures extend losses from Turnaround-Tuesday. Grain futures are lower again today after corn, beans, and wheat all struck a first trading day of the month high, culminating in a seven-day recovery lift. Warm weather is on the way, with planting getting underway next week in the Southern and Western Midwest. Dryness is forecasted to…
The first day of the month sets a high watermark. Grain futures faded from the overnight strength, with corn and soybeans turning lower as the first trading day of the month pushed a high watermark for the post-USDA crop report activity. Wheat remained positive after double-digit gains overnight as the crop condition reports show the…
OPEC+ cuts oil production on May 1. Grain prices opened higher and advanced on positive technical considerations from Friday’s closes and the addition of OPEC announcing it was slashing production by 1.6 Mil barrels/day starting May 1 and running through 2023. Bullish sentiment continues due to the cut in stocks that were more than expected…
Attention Cattle Guys! Are you looking to protect your investment in the cattle market? You should look into Livestock Risk Protection (LRP) insurance. With the changes made in the last few years to the LRP policies, it’s the perfect time to take advantage of this government subsidized risk management tool. Policy holders now have more…
Stocks and Acreage Report 3/31/23 Stocks were friendly. Corn and wheat acreage was slightly negative while soybeans were friendly.
Argentine grain inspectors threatened strike. Grain trade firmed overnight as the ongoing weather models predict blizzard-like conditions in the Northern Plains through the first week of April, along with the uncertainty of the upcoming seeding date on Friday taking a nervous tone. Also, Argentine grain inspectors are demanding higher wages and are set to strike…
Cargill pulls operations out of Russia. Another mixed-price evening turned into a firm morning, with wheat prices sharply higher again. Adverse weather that is inflicting the Plains, along with the never-ending Northern Plains winter, has caught a bid this week. Cargill announced it would be leaving the Russian ag export space this morning. While it’s…
