Grain trade moved higher after recent rains. Grain futures moved higher overnight as beneficial rains did arrive over the weekend. Still, the market is focusing on the dry stretcher weather ahead in the seven-day forecast, along with the excitement that China “may” be buying Ag products coming out of their Lunar New Year holiday and…
Grains are higher then last Friday, but strength is being checked. Friday morning’s grain trade is lower across the board after minor strength arrived on the night session opening. Needed rainfall is starting to fall across the Argentine crop areas, and the grain trade has invested a lot in China returning after this week’s New…
Grains firm overnight. Index funds short covering out of wheat. Grain futures are higher with follow-through buying from yesterday’s firm performance, as export sales data was anticipated to be robust and was confirmed this morning with strong sales at estimated expectations. Also, the market expects China to return next week being a buyer. Still, it’s…
Spec trade: Lower stop on short March beans to 1505. Lower stop on March corn to 682.
Turnaround Tuesday kicked in during last night’s opening. Turn-around Tuesday appeared overnight as algorithm computers quickly reversed massive losses that occurred in Monday morning’s grain trade. By mid-morning Monday, Corn had lost nearly $0.30 a bushel, over $0.50 on wheat, and almost $0.70 on soybeans from last Tuesday’s highs. The overnight technical rally had corn…
Grain prices decline as rains arrived in Argentina. Grain futures opened lower last night and are sharply lower this morning as heavy rains fell across the drought-stricken areas of Argentina this past weekend. The two-week forecast calls for near to above-normal rainfall into February 7. This is threatening the record-long soymeal and sizable long soybean…
Cattle On Feed On Feed: 97% vs 97% estimate Placed: 92% vs 91.8% estimate Marketed: 94.7% vs 94.3% estimate Cattle numbers are mostly neutral for Monday’s reopening of trade.
Friday’s grain trade mixed start, beans near the low of the week. Grains are softer this morning, with soybean oil finding a bid as spreads unwind and meal continues to soften. Improved Argentine and southern Brazil weather for rain are on the way, with this weekend’s widespread coverage of 1-2” expected. Also, China goes on…
Grain prices drift lower after overnight short covering. Grain pricing softened overnight, as index fund flows had ceased on Tuesday, and the market now focuses on the improving prospects in Argentina and Southern Brazil, which will receive beneficial rains that slowly start today and carry into the weekend. Early week strength that was created by…
Spec trade: Sell a March been at 1528.6 GTC with a 1552 stop.
