New historical highs overnight for Malaysian palm oil. Grain futures firmed overnight as palm oil prices moved to new historic highs, cotton trades another limit up to new contract highs at 113.93 up the $5 limit, and canola is ready to challenge its prior summer highs. This has inflation talk circulating with fund managers acutely…
Spec Trade: Buy a Dec Chicago at the MKT, 747 last 739 stop.
Soybean oil brings support to soybeans. Grain futures initially worked lower overnight, as StoneX released their crop guesses for October 12, with a 176.6 BPA on corn and 51.3 BPA on soybeans. Wheat futures retreated after an explosive run over the past three sessions and found double-digit losses in the night when French milling wheat…
Weakness overnight has corn and wheat finding support. Grain futures were lower overnight, awaiting the US trade representatives Katherine Tai’s announcements today on how the Biden administration will approach upcoming bilateral trade talks with China. China is behind on Phase 1 Agreement purchases with three months remaining in the current agreement for this year. China…
Spec Trade: Buy a Dec Bean oil at the MKT, 58.50 last with a 56.98 stop.
Wheat futures carrier the overnight strength. Wheat futures extend their rally overnight from yesterday’s friendly Stocks and Production numbers, while corn also continues recovering. Soybeans stabilized overnight, as spreads adjust favoring wheat and corn over beans. Soybeans are still the protein that gets affected by the rising values of feed grains. On wheat, its likely…
Small Grains and Stocks Report 9/30/21 Report was bearish to soybeans and corn and very bullish to wheat
A firm overnight grain trade awaits crop report. Grain futures are firm overnight ahead of the USDA’s Small Grains and Stocks Report out at 11:00 a.m. today. Strength in French milling wheat futures as Emma dollar higher at ton, pushing the contract highs for the December contract. It’s currently trading at €247 per ton, which…
Grains price bounce overnight. Grain futures firmed overnight after the excessive selling they took on Turn-around Tuesday, as the market prepares for Thursday’s volatile Stocks data and wheat production report. Stock index futures are also on the rebound as the yield on the US 10-year note fell back to 1.5% overnight after hitting a yield…