US dollar below 94.00 brings risk on mentality Grain futures are on the mend overnight, as end-user pricing became evident after funds steamrolled the market lower yesterday into significant technical support values for corn. Apparent yesterday is the selling was not cash-led. Wheat prices recovered as French milling wheat turned back higher overnight, presently up…
Spec Trade: Buy a Dec KC Wheat at 720.4 GTC with a 714 stop. Trendline support held. Lower the stop on Long Bean Oil to 58.32.
Spec Trade: Buy a Dec Bean Oil at the MKT, 59.36 last with a 58.62 stop.
Vegoils turn higher overnight. Grain futures are mixed this morning with soybeans holding psychological $12 and bouncing as rapeseed and canola markets turned sharply higher along with bean oil creating a lift for beans on the crush. Cash rapeseed in Europe is now quoted at $0.80 per pound with anticipation that world soy oil demand…
USDA WASDE Report 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
WASDE 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
Spec Trade: Buy Dec Chicago Wheat at the MKT, 735 last with a 719 stop.
Grain futures start new week firm. Grain futures started lower Sunday night but quickly found end-user pricing that turned corn, beans, and wheat back higher, as crude oil raced to new 7-year highs over $81.00. European corn and wheat futures moved to new contract highs, with spot corn hitting $7 .38 and wheat $8.50. RBOB…
Spec trade: Cash in the long Jan bean trade at 1268 OB on the re-opening for a $650 gain.
New historical highs seen in commodities overnight. Grain futures were sharply higher overnight, as you can smell the inflation in the air. New historic all-time highs were hit for Malaysian palm oil overnight, along with oats domestically doing the same thing, hitting $6 .36. Cotton also made new contract highs overnight, rallying $ 4.76, hitting…