Author: Ivan

Spec trade: Place an order to exit long crude oil at 72.45 GTC.

Wheat leads the overnight grain price recovery. Grains are firmer this morning, with soybeans trading mixed. French milling wheat traded stable overnight, allowing wheat to continue its price recovery, with Kansas City leading the advance on the pervasive dryness that is now becoming a focus. Spreads dominate, with corn supporting Chicago wheat, now trading 30…

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…