Grain futures continue sharply higher ahead of a 3-day weekend Grain futures continued their aggressive move higher as the various weather models continue to elude the prospects of reasonable rain into the donut of the Midwest that is dry through the next seven days. As of midweek, the market has fully gone into rationing mode…
New crop corn and beans push new monthly highs overnight. Grain futures turned higher Wednesday night and did not look back, with double-digit gains seen on new crop corn, soybeans, and Chicago wheat. 10-day forecasts are still looking for rain into the final week of June, and the dry Easter Minnesota/Wisconsin/eastern Iowa/Illinois donut continues to…
Grains retreat overnight from early week big gains. Grain prices are lower across the board this morning after the weather market push peaked Tuesday mid-morning, which is typical in weather cycles, with selling occurring on the added incentive of profit-taking ahead of the upcoming three-day weekend. Markets reopen Monday evening, June 19. Today is US…
Spec trade: Sell two November mini-soybeans at the market, 1248 last with a 1286 stop.
Hedge recommendation: Corn and soybeans achieving sales recommendation values. Make a 10% sale of new crop corn in December at 557. Make a 10% sale of new crop beans in November at 1227. Keep in mind that corn in Brazil right now is offered for $5.61 US equivalent, we have not been selling corn and…
Overnight weakness finds renewed buying interest. Grain futures traded lower last night after US weekly crop progress data showed both corn and soybeans down 3% in the good/excellent category (near expectations) while wheat was up 2%. Morning weather models that again keep rain void of the W Midwest region through the end of this week…
Weather is the key feature this week. The grain trade was mainly firmer overnight on the concerns for soil moisture throughout the Midwest, while Kansas City wheat continued to create the most weakness, along with July soybeans finding resistance in the 1390 range. Less rain than forecasted fell across the W and NC Midwest over…
USDA Crop Report 6/9/23 A lot of mixed data with something for everyone but the world wheat number for new crop carryout is bearish.
Grain trade mixed ahead of today’s crop report. This morning wheat and corn are lower on the session while soybeans maintain strength in the overnight trade ahead of today’s NASS and WASDE crop report at 11 AM CT. Adjustments are anticipated to South American crops along with downward US corn and soybean exports which are…
Grain trade mixed overnight. The overnight trade ended with a firmer wheat market while row crops were lower. Wheat prices suffered heavily yesterday but are finding a short-covering rebound led by spring wheat. Russia said that the blast, which damaged an ammonia pipeline, will not be positive for the extension of the Black Sea grain…
