Russian drones strike Ukrainian port near a NATO nation. Grain futures opened initially higher overnight on the dry and hot Midwest forecast, but the overnight trade moved sharply higher as Russian drones destroyed warehouses on the Danube River terminals in new attacks across the river from neighbor member Romania. The port of Reni is directly…
Cattle On Feed 7/21/23 On Feed: 98% vs 97.6% estimate Placed: 103% vs 97.8% estimate Marketed: 95% vs 95.3% estimate Inventory All Cattle: 97% vs 97.7 estimate All Calf: 98% vs 97.6 estimate The report is slightly negative due to placement number.
Grain prices stumble on long-term weather model hopes. Grain futures turned lower to sharply lower overnight as the 11-15 day models offer some showers in seasonal temps for the N Midwest. Also, Turkish Pres. Erdogan indicated that he had hoped that he could persuade Pres. Putin into returning/extending the Black Sea Grain Corridor deal. The…
India announcing to ban the export of non-basmati rice. Grain futures pushed higher again overnight, led by wheat, as not only was the news that Russia stated any ship moving into the Black Sea region would be considered as a potential military aid ship for Ukraine, but more news also came from India. India announced…
Ukrainian port war escalation and threatening weather boosted grains sharply higher overnight. Grain futures raced sharply higher overnight on the escalating of Black Sea risks occurring with more bombing in southern Ukraine with reports of more damage done to the ports in Odessa and Chonomorsk. Adding to the fact that vessel insurers will now pause…
Grains turn higher overnight on threatening weather forecasts. After a lower start last night, grain prices recovered sharply as weather models bring threatening US weather to the Central US along with overnight strength from Russia against Ukraine’s Odessa grain export port. This signals Moscow’s aversion to Ukraine to export Ag products from Marine ports. It’s…
Grains are higher, with wheat the leader this morning. Grain futures are higher crosses board this morning, as drier northern Midwest weather becomes a concern with warming temperatures into early August raising crop yield risks. The COT report on Friday showed a surprising amount of corn sold at 44k contracts, but some analysts view this…
Soybeans lead the overnight grain recovery. Soybeans are sharply higher again this morning for the fourth day in a row, but from considerably lower levels on the week. Grain prices are bouncing from extreme selling that was encountered Thursday after the WASDE crop report put out a gauntlet of bearish numbers. Recovery this morning is…
USDA Crop Report 7/12/23 Crop report bearish across the board.
