Markets are set for a noon-time close today. Merry Christmas Eve Day! A thin holiday trade greets the overnight session, with the market fluctuating from both sides of unchanged. Trade thins out as it prepares for a 12:05 p.m. CT close for grains today and a 12:15 settlement for livestock. Markets reopen at 8:30 a.m….
Hogs and Pigs 12/23/24 All Hogs and Pigs: 101 vs 100.1 estimatesKept For Breeding: 100 vs 100.0 estimatesKept For Marketing: 101 vs 100.1 estimates Report came out slightly negative to pre-report estimates.
Corn recovers to its December highs to start the week. Grain prices were mostly higher overnight, with corn advancing towards the December highs near 450, prompting short-covering in wheat. The strength of soybeans overnight faded after the massive two-day lift in soybean meal stalled. Algeria is tendering for 50,000 MTs of wheat from mid-February into…
Cattle On Feed On Feed: 100% vs 99.7% estimate Placed: 96% vs 94.9% estimate Marketed: 99% vs 98.2% estimate Report mostly neutral to pre-report estimates a should have a minimal affect on Monday’s opening.
Soybeans are higher, having rallied almost $0.30 off Thursday morning’s low. This morning’s grain trade is seeing strength in soybeans as the market has recovered almost $0.30 off the Thursday morning low on rumors that China is buying 500,000 MTs of US beans for March/April delivery. Some believe they’re doing it for political purposes, buying…
Are Cattle In Trouble? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1040910880/f9e20d9eeb?share=copy Corn: Corn held its wave four correction, showing potential for wave three of wave five up. Resistance at 446.75; breakout targets 460-465 for potential sales. Basis weakness might recover post-New Year; highs likely in April-May. Soybeans: Soybeans bounced after testing critical trendline…
This morning’s grain trade is mixed. Soybeans bounced from yesterday’s significant losses, while wheat slipped to new contract lows in Chicago. This morning’s grain trade has wheat futures leading the weakness as they digested the US dollar’s new strength to near 108.00, with the March Chicago wheat contract at a new contract low. The continuation…
Soybean values break to new contract lows. A widely mixed trade with wheat higher, while soybeans tumble as the Continuing Resolution Bill before Congress offers nothing for soybean oil but has E15 year-round for ethanol in it. The bill before the U.S. House includes $31 Bil of aid for farmers being labeled as disaster aid…
Can Corn Still Rally? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1040164435/206379a587?share=copy Corn:Turned higher after Friday’s low but must hold 440 support; failure risks a larger pullback to 432-436 before resuming an upward trend.USDA’s lower carryout estimate supports corn’s upward bias, with acreage competition expected to sustain prices. Soybeans: Broke lower, targeting 945-950 if…
The grain trade showed a strong recovery overnight in wheat. The markets are showing signs of strength overnight, with wheat leading the way on Putin’s comments and some questions over Russia’s ability to facilitate exports as we move ahead. In the Eastern part of Ukraine, Russian forces have been making significant advances on the ground…
