Canola collapses as China and Canada go into a trade dispute. This morning’s grain trade is mixed, with soybeans higher on the dry Midwest weather forecast into mid-September. The wheat trade struggled as it failed to breach technical resistance, bringing in Algo/AI trade selling, which is still defending its position. The big story is that…
Soybeans and corn pushed new weekly highs overnight. A firm overnight grain trade, led by double-digit soybean gains, took November over $10.00 for the first time since August 9. Light deliveries and seasonal price trends that tend to find a low in August or early September are turning up, with Algo and AI trader computers…
Soybeans firm back to early week highs. This morning’s grain trade has soybeans recovering to near yesterday’s highs concerning dry Midwest weather and the end of September contract liquidation, while wheat futures are correct in price after a two-day price jump from contract lows. In row crops, the index funds are now the big short,…
Grain trade retreats early week gains. Today’s grain trade has soybeans giving back half of their three-day gains and corn softening on a chance of rain across the northern half of Illinois and portions of Indiana. Chicago Wheat is firmer in strength in French milling wheat, gaining $2.00/MT overnight and also gaining on its early-week…
Soybeans firm on Illinois crop ratings decline. Wheat is softer, while corn is nearly steady, as September contract liquidation and HTA action dominate. Meanwhile soybeans are firm on Chinese buying interest and Illinois decline in ratings. Yesterday’s crop ratings data also showed corn down 2% in the good to excellent category while soybeans drifted 1%….
A lower trade with new contract lows to start the week. Grains are lower this morning, with both corn and wheat again scoring new contract lows. Profarmer released its final tour results with no surprises. They came in at 181.8 BPA on corn and 54.9 BPA on beans vs. the USDA at 183.1 bpa on…
Cattle On Feed On Feed: 0% vs 100% estimatePlaced: 0% vs 104% estimateMarketed: 0% vs 108.2% estimate Report is friendly feeder cattle and slightly negative to front live cattle to pre-report estimates. Marketing was the second lowest for June since the series began in 1996.
Today is day 3 of the Pro Farmer Crop Tour. This morning’s grain trade finds row crops firmer as results from the Pro Farmer Tour failed to live up to the NASS potential yield of 183 BPA on corn and 53 BPA on soybeans. The key will be whether Illinois and Iowa corn yields and…
Pro Farmer Crop Tour enters its second day. This morning’s grain trade is mixed while the Pro Farmer tour continues. Yesterday afternoon’s corn and soybean crop ratings held mostly steady, with soybeans off 2% in the good/excellent category as expected. The forecast still calls for Central US dryness through the end of the month. Yesterday,…
Pro Farmer Crop Tour gets underway this morning. Grain futures are mixed after a higher start for row crops overnight, and wheat is softer. A dry and warm weather forecast is offered for the Midwest and Delta along with the Central Plains over the next 10-12 days, with showers forecast for the Northern Plains and…