Buy Cattle 4/14/21
Spec Trade: Buy a June cattle at the MKT 119.82 last with a 117.97 stop.
Morning Update 4/14/21
New contract highs for December corn overnight. Overnight grain futures continued the advance from Tuesday’s recovery. The Monday post-crop report blowout was just another buying opportunity in the more bullish trends of corn and now wheat. Ongoing arid weather for Brazilian winter corn and the Northern US Plains/Canadian Prairies sparked the rally to continue overnight,…
Morning Update 4/13/21
Classic Turn-around Tuesday after a hard down Monday. Grain futures found the classic turnaround Tuesday, recovering overnight as the May contracts’ roll-out comes to an end by Wednesday, and the basis continues to improve. End users are seeing the advantage of the buy in the corn break, hoping there might be deliveries, but that has…
Buy Corn 4/12/21
Post-crop report correction in grain prices continues. Grain futures continue their post-crop report correction overnight, with only corn posting and early session rally on the dryness for the winter corn areas in Brazil before faltering to near steady. Wheat futures opened steady to lower on light showers Sunday in North Dakota that turned to snow…
Morning Update 4/12/21
Post-crop report correction in grain prices continues. Grain futures continue their post-crop report correction overnight, with only corn posting and early session rally on the dryness for the winter corn areas in Brazil before faltering to near steady. Wheat futures opened steady to lower on light showers Sunday in North Dakota that turned to snow…
USDA Report 4/9/21
USDA WASDE 4/9/21 Friendly corn, neutral slightly negative beans and wheat
Morning Update 4/9/21
WASDE report out today at 11 AM CT. Wheat and corn futures pressed higher overnight, while soybeans struggled to overcome overnight weakness. Wheat and corn futures were higher on anticipated Chinese interest and potentially friendly data for corn. WASDE releases its ending stocks report at 11 AM CT today. The average guesses for US April…
Morning Update 4/8/21
Spring wheat leads the overnight advance. Spring wheat led the overnight rally for the wheat complex, even pulling the SRW Chicago wheat higher through the night session. Morning action found corn and soybeans also higher on the day on Brazil’s CONAB production estimates which were seen neutral to estimates, before export sales released at 7:30….
Morning Update 4/7/21
Old crop pricing leads overnight rally. Night session trading found renewed buying in old crop corn and beans with the upcoming April WASDE report out this Friday. The report is anticipated to raise 20/21 US corn exports and feed/residual use. Dry weather is now starting to be noticed in the ongoing weather trends across the…
Morning Update 4/6/21
Turnaround Tuesday comes with a firm start. The first crop condition report for 2021 was released yesterday from the NASS and reported late Monday that 53% of the US winter wheat crop was rated good to excellent (GD/EX), with just 2% of the ’21 US corn crop planted (mostly TX). The surprise was not that…