KC Wheat
Spec trade: Place GTC order to exit long July KC wheat at 1155 for a $3,500 gain, currently 1151.
Morning Update 4/11/22
Wheat and corn find renewed buying, soybeans stall at 17.00 Grain futures opened firm overnight on dry HRW wheat weather, lack of any Russian/Ukraine resolution, and Midwest cool/wet weather. Wheat advanced with corn making new contract highs from the July contract forward, while soybeans retreated from $17.00 as concerns with China’s lockdowns that commerce will…
USDA 4/8/22
WASDE 4/8/22 Old crop corn and wheat carry out numbers are negative to price expectations. World wheat numbers are positive to price expectations and world corn numbers are negative.
Morning Update 4/8/22
WASDA data out at 11:00 AM Central today. After a volatile mixed overnight session, grain futures closed on their highs, with July December corn futures at their contract highs. Today’s USDA supply-demand data will be closely scrutinized at 11:00 a.m. on how they play with balance sheets by inputting trend yields or better than trend…
KC Wheat
Spec Trade: Buy a July KC Wheat at the MKT, 1085 last with a 1042 stop below Tuesdays gap.
Morning Update 4/7/22
CONAB lowers bean production and raises corn. Grain futures were softer overnight, while soybeans were firm ahead of this morning’s CONAB report out of Brazil. CONAB estimated the Brazilian crop at 122.4 MMTs while raising corn production to 215.6 MMTs. The numbers were in line with early estimates, but the corn crop is still an…
Morning Update 4/6/22
Grains correct two days of sharp gains. After a two-day sharp grain rally to start the week, a corrective mode stalls out the grains overnight, as you have to feed a bull every day. Thursday at 6:00 a.m., Brazil’s CONAB releases their keep production updates, and then Friday is the monthly USDA/WASDA crop production and…
KC Wheat
Spec Trade: Buy a May KC Wheat at 1061.2 with a 1038 stop. The gap is the risk.
Morning Update 4/5/22
Wheat lifts the grain complex overnight. Grain futures reacted sharply higher to the first NASS wheat crop condition report showing only 30% of the 2022 winter wheat crop rated GD/EX, with 36% of the crop in the poor/very poor category. This is the second-lowest initial US winter wheat crop on record and was a bullish…
Morning Update 4/4/22
Grain futures recover overnight on renewed war premium and weather concerns. Grain futures started firm overnight and moved sharply higher on the same news they ended with last Friday in a slump. Weather remains dry in the southern plains with today’s NASS start of national wheat crop ratings, which are expected to be poor, along…