Default concerns of Chinese real estate group prompts massive selling. The financial and commodity world went risk-off overnight, with stock indexes sharply lower, with Dow Jones down almost 700 points, energies, softs, and grains were lower, with livestock probably included today, as concerns over the default of Evergrande Group, the largest property developer in China,…
Row crop prices soften ahead of a big harvest weekend. This morning, a mixed grain trade is featured with wheat firm and row crops soften with the onset of the first large harvest weekend. This is bringing hedge sales into the marketplace, as stated Thursday morning could be a probability. A strong price lift from…
Grain futures end mixed after a firm overnight session. Grain futures pressed higher again overnight, with corn making new monthly price highs and wheat and soybeans challenging early September highs. Grain prices drifted lower towards the end of the night session on lackluster export sales data along with the dollar that firmed on retail sales…
Grain futures continue their post crop report rally. Grain futures pushed higher overnight, with corn and wheat exceeding Tuesday’s highs, providing more evidence that the Friday, September 10 crop report low is giving the appearance of a harvest low, with end-user buying evident. Expanding US export demand for corn/soybeans, stout spot cash market bids, and…
Turn-around Tuesday in the overnight trade on wheat cuts. Grain futures moved higher overnight, capturing their Turnaround-Tuesday (adding to grains which closed near the better levels of the session on Monday though still lower) led by a cut in the French wheat crop. The French Farm Ministry cut their wheat crop estimate to 36.06 MMTs,…
Post crop report selling returns overnight. Grain futures start started overnight mixed to firmer, and turned week throughout the evening. Since the first of the year, there have been 11 USDA crop reports, which 9 of them finding immediate selling the day after the report. Friday’s crop report will be the 12th, with today making…
USDA WASDE Report 9/10/21 Report was slightly negative but end-users are buying into the market creating a firm tone.
Spec trade: Place a buy stop on a Dec corn at 518.2. Use a 5 cent stop if filled on trade. The bearishness is so pervasive, a friendly number will create a sharp up move. If filled, use a 5 cent stop.