Stats Canada wheat data bearish expectations. Grain futures are mixed this morning after a from night session, while spring wheat is down 9 cents on the stats Canada crop report this morning that showed All wheat at 26.96 Mil acres, up from the average estimate of 26.3 and 1.5 Mil acres above last year’s 25.4…
Spec trade: Buy a June hog at 88.25 GTC with an 86.15 Stop. MA support should be heavy just under 88.00.
Grain prices mixed/lower despite the weekend freeze and Black Sea concerns. Grain prices are mixed to lower to start the week, despite what was likely some winterkill in HRW/SRW wheat country and concern that Russia will halt the Black Sea Grain Corridor by mid-May. It’s the sharp decline in Brazilian beans still remained weak, with…
Cattle On Feed On Feed: 96% vs 94.8% estimate Placed: 99% vs 94.9% estimate Marketed: 99% vs 98.8% estimate The report is considered slightly bearish based on the placement number.
Futures lean soft to start trading day of the week. Concern about the central bank raising the interest rate by 25 bips in 11 days in rising. Commodity prices have been somewhat of an indicator of this happening with the bearish trade recently along with the sluggish stock market. This is looking to be the…
Spec trade: Buy 2 (July) micro-crude oil at the MKT, 76.90 last and 2 more at 75.75 GTC with a 69.50 stop.
Rains on the Plains are on the way. Wheat futures continued their collapse overnight, dragging row crops with it, as rains that were pushed south and east in yesterday’s forecast have now been brought back in the western portions of Kansas. According to the EU and Canadian weather forecast models, the best rain since the…
Grains lower across the board this morning. The wheat market led the overnight grain trade weakness as headlines hit that Russia has allowed inspections of Ukraine grain cargoes to resume which provided the pressure. Russia is blaming Ukraine for the difficulties as Ukraine officials seek bribes from shipowners to register new vessels and carry out…
Grains are mixed for the start of Turn-around Tuesday. Grain futures pushed higher overnight on the Ukrainian Grain Corridor closure concerns along with threats of the annual Argentine port strike occurring later than normal, lifting soybeans to a new spring high, but results are muted as there is not much of a crop to export….
Wheat futures start the week correcting Friday’s big surge. Grain futures initially opened higher Sunday night after Poland and Hungary announced on Saturday their placing bans on Ukrainian grain being transported through their countries due to the stockpiling that is causing low prices. But after the initial opening, wheat futures took a hit, as algorithm…
