Author: Ivan

Spec trade: Buy a December corn at the MKT, 587 last with a 576 stop. Corn could be setting up a large apex and you need to buy above prior lows again. We stopped out overnight with a $1,000 gain overnight, and are re-establishing our long.

Grain prices burdened with seasonal apathy. Grain futures worked lower overnight except for wheat prices that crossed unchanged several times, as Egypt did announce they would accept protein as low as 10.5% in order to receive alternate sources of wheat from the US via SRW wheat being the cheapest in the world presently (Egypt announces…

Heat, GASC tender and will Ukraine/Russia make the deal. Grain futures are sharply higher this morning after a volatile start that found initial selling but recovered in the overnight back to session highs. Concerns for searing heat in the Central US along with Europe, reducing row crop yield potential, and Egypt tendering for wheat, while…

NOAA issues Drought Expansion Alert. Grain futures were mixed overnight, with row crops firm on concerning weather for next week, especially with the NOAA issuing an unusual Drought Expansion Alert for the Plains, SW, and W Midwest. Wheat continued to drift back to near last week’s lows, on hopes that Ukrainian grain exports may see…

Crash on recession or rally on drought fears. Grain futures again experienced another volatile night session, as sharply higher prices gave way again to the selling vigilantes that show up during the European session after 2:00 a.m., erasing large overnight gains and creating negative losses as we follow the outside market risk-off mentalities. The US…

Spec Trade: Buy a Dec Corn at 586.2 OB with a 573 stop.

CPI comes in above expectations at 9.1%. This grain futures were mostly higher after a sharply mixed overnight session but turned abruptly lower after the release of the CPI at 7:30 a.m., coming in at 9.1% year over year, the hottest inflation in 40 years. This pushed the US dollar back to the week’s highs…

USDA WASDE Report 7/12/22 All stocks data is slightly negative to pre-report estimates

USDA WASDE Report 7/12/22 All stocks data is slightly negative to pre-report estimates

Macro trading pushes commodities lower. Grain futures had opened firm overnight on crop ratings which were less than expected in the EU forecast that was drier than midday GFS models. But that ended overnight, as the US dollar bolted to new highs over 108.00, and the euro collapsed to near parity with the dollar for…