Author: Ivan

USDA WASDE Report 9/12/22 Yield data bullish for soybeans, as expected for corn. Soybean’s acreage down almost 600,000 acres, corn acreage was down 1,000,000 from last month. Ending stocks data was friendly corn with soybeans bullish.

September USDA crop report out today at 11:00 AM CT. Grain prices had a two-sided price range overnight, as weakness at the start of the session was tied to the US railroad strike that could occur on September 17 unless the US government orders a cooling-off period for 30-days. Overnight strength returned as the US…

The risk-off trade is in play, with the US dollar tumbling 1% overnight. Grain futures recovered overnight after absorbing heavy selling from Wednesday mornings price rise to an 11-week high for corn, while on Thursday, soybeans challenged their mid-August lows and held, prompting a recovery to above the 200-day MA. Short covering is the feature…

The grain trade is mixed in preparing for Monday’s crop data. Grain futures are mixed in the morning session, with the corn and bean spread pricing adjusting slightly after yesterday’s soybean price drop. Wheat prices are firm on the ongoing concern that Putin will not renew the export grain corridor in its current format in…

Putin is unhappy Ukraine’s grain not going to poor countries. After a weak evening session, grain futures surged in the night as Pres. Putin voiced his concern that most of the Ukrainian grain export of the date has been going to EU countries and other Western nations, not the poor African or SE Asian countries…

Grain prices trade sharply two-sided overnight. Grain futures had seen corn and wheat rise as much as a dime overnight, while soybeans struggled early in the night session and moved lower throughout the evening. Argentine farmers received a bonus from their government on Sunday with an incentive to sell soybeans at 200 pesos/MT versus the…

Grain prices recover on end-of-week short-covering. After four days of selling in soybeans and three sessions of selling in corn, the Friday recovery is underway as end-user buying steps in with the US dollar softening overnight into the monthly jobs number out this morning. August payrolls came in at 315,000, near the estimates but no…

Spec Trade: Buy Dec Corn at the MKT, 664 last with a 646 stop.

Equity and commodities go risk-off overnight. The first day of September is greeting the world commodity and equity markets with heavy selling following elevated political tensions between Taiwan/China overnight as Taiwan shot down a drone that intruded into its airspace. Ongoing Central Bank communique continues to push home the fact that US interest rates are…

Spec Trade: Exit short beans at the MKT, 1435.4 last.