Grain futures retreat from overnight strength. Grain futures traded mostly higher overnight, alongside a sharply higher energy complex and stock indexes. However, with technical resistance overhead on corn and soybeans, grain futures drifted from overnight gains to reflect a soft close in price at the end of the night session, awaiting fresh export news. Ukraine’s…
Grain futures give up overnight higher start. Grain futures opened higher last night, with soybeans posting a new recovery high before widespread selling materialized across the complex on profit-taking with Thursday’s WASDA crop report on the way. No production data will be presented in this report, it will just be supply-demand numbers, with many suggesting…
Weather is becoming a concern in S Brazil and Argentina. Row crop prices pushed higher overnight while the wheat market consolidated yesterday’s sharp gains. Risk-on continues across the commodity complex overnight, with the current variant being less invasive than the current Delta virus. Corn and soybeans continue to find new buying interest in South America’s…
Risk-on is the order of the day for index funds. Grain futures were sharply higher overnight, with the wheat trade recovering from heavy selling in a short period of time as the risk-on trade comes back in vogue. Yesterday, Pfizer indicated that it expected its current vaccine to hold up to omicron with the World…
Commodity values rebound from Tuesdays washout. Grain futures are firmer this morning, recovering from yesterday’s wide-ranging equity and commodity liquidation. A slow return of risk-on exposure is working its way back from investment managers, as the EU government reports reveal what African doctors stated over the weekend. The omicron variant is mild in less lethal…
Spec trade: Buy a March KC wheat at the MKT, 818.4 last with an 805 stop.
The financial and commodity world recovered overnight from Friday’s sharp losses. Grain futures offered a mostly higher night session, as the new Covid variant is proving to be no worse than the Delta Covid variant. This allowed for a sharp recovery overnight in energies, financials, and metals markets. This buying spilled into the grain complex…