Buy Bean Oil
Spec Trade: Buy March Bean Oil at the MKT, 55.94 last with a 54.98 stop.
Morning Update 12/30/21
Soybeans lead overnight sell-off. Grain futures worked lower overnight, led by the soybeans, as rain moved southward into northern MGDS/Sao Paula/N Parana overnight, bringing rains of 1-2”. The heavier rains were more of a localized event. This weekend, there is still the potential of rains in these same areas. Otherwise, there is no change in…
KC Wheat
KC wheat futures find support at long-term trendline. Kansas City wheat futures this morning bounced off of major technical support. We will try to buy a minor intraday retreat with stops under 809.
Morning Update 12/29/21
Selling in commodities continues into mid-week. Technical selling developed overnight across the grain board from corn and soybeans making new six-month highs early Tuesday morning and closing near the session’s lows. This is prompting profit-taking, technical selling with the end of the tax year three days away. Significant gains seen in commodities over the past…
Bean Trade
Spec Trade: Buy a March Bean at 1358.4 with a 1341 stop. (Sunday night low at 1342.4)
Morning Update 12/28/21
Turn-around Tuesday gets rolling in the morning hours. Row crop futures pushed sharply higher overnight for soybeans and higher for corn, while wheat struggled due to yesterday’s poor technical performance. Adverse South American weather continues to draw money in from index funds that want to own hard assets. Turn-around Tuesday kicked in by the morning…
Morning Update 12/27/21
Grain futures start last the week of the year higher. Overnight grain futures pressed higher after the Christmas holiday break, as the stagnant and persistent weather pattern in South America continues. Rains in northern Brazil, while southern Brazil and Argentina remain mostly dry with rising temperatures. Rainfall across the drought areas over the holiday weekend…
Cattle On Feed Report 12/23/21
Cattle On Feed Report On Feed: 100% vs 100% estimatePlaced: 104% vs 103.2% estimateMarketed: 105% vs 104.4% estimate Expect steady/higher open on Monday. Hogs and Pigs Report All Hogs & Pigs: 98% vs 97.1% estimate Breeding: 97% vs 100.1% estimate Marketing: 99% vs 96.9% estimate Hog report friendly.
Morning Update 12/23/21
Today is the last trading session of the week. Grain futures are mixed after of firm overnight session. Today is the last full day of trading before closing for tomorrow’s Christmas holiday weekend. World financial markets and crude oil and metals are higher, as omicron variant infection is commonly understood as only creating mild illness….
Hedge Alert 12/22/21
Hedge recommendation: From the Weekend Hedger Target 1335 on March soybeans to make a 25% sale of 2021 beans. Target 622 on the March Corn contract to make a 15% sale of 2021 corn.