Up, Up and Away Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1166475572 Corn Grain trade mostly higher; corn soft with smaller acreage, 94 million acres at 183 bpa. New crop carryout expected lower; Chinese buying potential in March-April may drive rallies. May contract breaking new highs for the year; potential sales near 472, upside…
This morning, strength has wheat being the leader. USDA has a lower corn acreage expectation. The grain trade finds this morning with wheat the leader. Soybeans had a bout of buying overnight, as demand from both export sales and domestic consumption remains elevated. This is even with fewer Chinese businesses than last year. The wheat…
Soybean oil leads overnight grain strength. The overnight grain trade did a Turnaround-Tuesday on Wednesday, with markets moving in the opposite direction after the first trading day of the week, when they reverse from a meltdown or a blowup. Soybeans pushed higher, following soybean oil bolting to new high overnight as rumors are circulating that…
Back To Work Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1165792218 Soybeans Soybeans pushed higher despite China being on Lunar holiday. March broke prior highs last week but stalled near the 78.6 percent retracement. July beans traded above our 1160 old crop sale zone, reaching toward the 88 percent retracement. No new high close….
China and South America are on holiday, trading volume is thin. The grain trade is soft this morning with soybean oil having recovered to a higher price, supporting beans. China is on holiday today as their celebration of the Lunar New year, while South America celebrates Fat Tuesday. Trading interest was low-volume overnight as we…
Markets are closed Monday, bringing about profit-taking from a strong week in grains. It’s been a very good week for grains, so profit-taking kicked in overnight, is not a surprise with a long weekend ahead, farmers are selling on this week’s rally, given it’s February, not a surprise there either. Markets will be closed on Monday…
More Chinese Hope Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1164486596 Soybeans: China trade talks spark optimism, lifting beans higherSouth American dryness persists, especially in Argentina and southern BrazilContinuation charts suggest potential for March contract to approach 1150 Wheat: Market breaks above 200-day moving averageMeasured move theory targets 570 area for Kansas City and…
New weekly highs for soybeans overnight. Traders challenge the USDA’s soybean carryout estimates. Soybeans lead overnight gains by gapping higher from yesterday’s strong close, as it was confirmed yesterday afternoon that China and the US will roll back tariffs likely ahead of the President. Trump’s visit to China is set to arrive on March 31,…
The grain trade has mixed price action overnight after yesterday’s WASDE crop report. We have a mixed trade this morning as the market has already put the February WASDE behind it, with little difficulty. The report delivered nothing unexpected and generated minimal follow through. On the domestic balance sheet, USDA adjusted corn exports higher by…
There Can Always Be a Surprise Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1163762923?share=copy&fl=sv&fe=ci Corn: USDA cut old crop carryout by 100 million bushels via higher exportsCarryout remains above 2.1 billion, limiting enthusiasmChina crop quality issues may boost imports later this springPotential rally window in March and AprilTechnical setup suggests possible move toward 450…
