Dec corn makes new contract highs on Ukraine new-crop shortfalls. Grain futures moved sharply higher in the night session. December corn made a new contract high on concerns the Ukrainian corn crop will experience reduced potential with no end in sight for the military confrontation with Russia. Reports of stolen fuel by the Russian military…
Wheat leads the morning weakness. Morning grain futures find wheat sharply lower with corn following, while soybeans try to stay firm on Chinese interest. Wheat futures are on retreat, with rain forecasted for the dryer HRW wheat belt next week. Headline watching of the Ukraine/Russian conflict still finds continual discussions of truce talks, but continued…
Row crop prices recovered overnight with wheat trading volatile. Grain futures are mostly higher this morning with wheat lower, as a grain trade recovered overnight on news that Pres. Putin gave an angry speech to the Russian people and stated that they needed to cleanse Ukraine of “traders and Western aligned scum,” which reveals that…
Rain possible near end of March for dry southern wheat plains. This morning, grains are mixed with wheat and corn futures lower, while soybeans rally. Initially, Wednesday evening, there were reports that India will have more wheat available for export from last year’s surpluses and the promising looking upcoming crop. This morning’s 11-15 day forecast…
Spec Trade: Buy a May micro-crude oil at 93.75 and 92.75 GTC with an 83.00 stop. Utilize the micro-crude oil contract., As it is 1/10 the size of the big one. A dollar move is $100, and with daily swings in the four-dollar-plus range, a couple of these is a big enough position for a…
Crude oil continues its aggressive liquidation overnight. Grain futures experienced a higher wheat trade overnight, while corn and soybeans moved lower, following the declining crude oil as further liquidation was prevalent there. China announced a lock-down of 51 million citizens due to a fresh outbreak of Covid in a region, sparking fears of slowing use….
Commodities again turn lower overnight on truce hopes. It was a headline evening for grain futures. A higher opening was inspired by Argentina working to limit exports, which had soybeans again challenging 17.00 and failing along with corn which had also bounced to a new recovery price high of 767.4, before also declining sharply overnight….
Spec trade: Buy a second May mini-wheat at 1037 with a 935 stop on both positions.
Commodities lower as Putin comments of positive truce developments. Grain futures gave up overnight gains and moved lower in the early morning hours along with crude oil and metals from comments that Putin stated there was a positive shift in cease-fire talks with Ukraine without being specific. Reuters broke this story in the early morning…
