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…
Grain futures lower Friday morning. Grain futures are softer this morning, with wheat giving up an early morning rally, while French milling wheat still holds gains of $1.25/MTs despite disappointing EU crop results. Meanwhile, corn and soybean futures drifted after a minor bounce in the last few sessions as the trade heads into the weekend…
The grain trade had seen a burst of buying overnight. This morning’s grain trade is firmer but off overnight highs, as a risk premium was applied to reports that Russia had attacked Ukraine’s key port of Odesa overnight. This follows Ukraine’s recent incursions into the Kursk region of Russia. Concerns over rising Black Sea transportation…
Short covering develops in soybeans overnight. A mixed grain trade this morning with soybeans higher after making another new contract low last night near 955 on the November contract. Short covering is the order of business and soybeans, with the resistance encountered at 977-980 and then more significantly near 10.00. The soybean balance sheet is…
Soybeans push another new contract low overnight. Today’s grain trade is softer for corn, with soybeans continuing to make new lows after yesterday’s August crop production WASDE report. The NASS substantially defined US 2024 corn, wheat, and soybean planted/harvested area including the FSA Farm Program participation data. Some still anticipate more cuts for corn of…
USDA Report 8/12/24 Report was bearish soybeans not only on yield but on the increase of harvested acres by just over 1 million acres meanwhile the all wheat production number came in friendly because of Spring Wheat.