Morning Update 9/2/22

ByIvan

Grain prices recover on end-of-week short-covering. After four days of selling in soybeans and three sessions of selling in corn, the Friday recovery is underway as end-user buying steps in with the US dollar softening overnight into the monthly jobs number out this morning. August payrolls came in at 315,000, near the estimates but no…

Morning Update 9/1/22

ByIvan

Equity and commodities go risk-off overnight. The first day of September is greeting the world commodity and equity markets with heavy selling following elevated political tensions between Taiwan/China overnight as Taiwan shot down a drone that intruded into its airspace. Ongoing Central Bank communique continues to push home the fact that US interest rates are…

Morning Update 8/31/22

ByIvan

Grains continue to press lower overnight from Monday’s high. Grain futures are sharply lower across the board this morning after having a mixed volatile night session. Grain futures turned broadly lower overnight as the EU’s inflation numbers reached a record 9.1% for August. This will prompt another substantial interest rate hike in September, slowing their…

Morning Update 8/30/22

ByIvan

Turn-around Tuesday for the grains. Grain futures were lower overnight, with soybeans leaving the decline. The Pro Farmer Crop Tour is the low water benchmark for corn yields, and prices have acknowledged that, along with the prospects of a record bean crop. The focus is now shifting to demand, which the USDA may have overstated…