Grain futures do an early Tuesday morning price flare out. A high volume of overnight trade with May corn pushing the 40 cent limit along with May soyoil up to 2.50 limit. This created the emotional flare out we suggested in the Monday newsletter that could occur early Tuesday morning, as upside volume shoots higher….
Corn pushes new contract highs across the grain complex The new week is greeted with new contract highs in all grain contracts as concern continues to grow on the Brazilian corn crop and North American weather. It’s weather and the very strong premium basis to futures that lack short interest going in the first notice…
Cattle On Feed On Feed: 105% vs 106.1% estimate Placed: 128% vs 133.7% estimate Marketed: 101% vs 101.1% estimate Report is friendly. Opening call for Monday is $1.00 plus higher.
A mild pause in grain futures overnight on a spectacular run. Grain futures went into a mild correction overnight despite substantial gains yesterday and the week. With corn gaining almost 60 cents, soybeans 95 cents on the week, the basis remains strong. Typically, on such movements to the upside, the basis would weaken, but supplies…
Upside momentum accelerated overnight. Another round of contract highs across the board overnight, as momentum fueled buying pressed the market into the early morning hours before a lite retreat into the close. This kind of action is creating a flaring run to the upside that could cause a short-term burnout spike high. However, setbacks will…
The trend of overnight contract highs continues. Another round of new contract highs overnight in row crops for both old and new crops, before profit-taking rolled in again on the futures market. The premium of spot Midwest cash corn, soybean and soyoil markets is spurring short-covering in May futures heading into 1st notice day on…
A new round of contract highs again overnight. Old and new crop soybeans, along with December corn made new contract highs overnight. The wheat market followed higher on cold temperatures in the low 20 in western Kansas/E Colorado. Wheat is in the boot stage in N Texas where damage is likely, but production has turned…
Spec trade: Buy a Dec cattle at 126.22 with a 124.97 stop. Day order.
New contract highs for Spring Wheat at Dec corn. Grain futures worked higher overnight on concerning US and world weather. The Northern US/Plains, the Brazilian winter corn area and Northern Europe are all enduring some measure of drought. This has the CBOT adding weather premium to price ahead with domestic US cash markets rising on…
Risk of trading to end the week with the weaker US dollar. A weakening US dollar overnight has gold and silver racing higher, with the risk on mentality in place. Corn, soybeans and wheat are all higher on the week, as we come to a close, typical for a bull market that comes under pressure…