Author: Ivan

It’s May Day, with European countries closed. It’s May Day, and grains are starting out lower for wheat, softer corn with beans near steady. Heavy losses were seen last week, with Friday experiencing short covering with end-of-the-week/end-of-the-month profit-taking. Follow-through buying did not materialize Sunday night, implying any strength is potentially still short covering and not…

Widespread sales of higher ethanol E15 gasoline. The Biden administration has decided to issue an emergency waiver that will allow widespread sales of higher-ethanol E15 gasoline this summer. This is following a strategy used last year to tamp down high pump prices. The announcement is expected to come from EPA today, with the waiver to…

Chicago wheat and bean oil received deliveries. Grain prices stabilized overnight, with soybeans recovering moderately. Deliveries were noted for soybean oil of 199 contracts with Chicago wheat having 854 contracts delivered. There was no corn, soybeans, soymeal, or KC wheat tendered. Chicago SRW wheat is now the cheapest wheat in the world, with June offers…

Stats Canada wheat data bearish expectations. Grain futures are mixed this morning after a from night session, while spring wheat is down 9 cents on the stats Canada crop report this morning that showed All wheat at 26.96 Mil acres, up from the average estimate of 26.3 and 1.5 Mil acres above last year’s 25.4…

Spec trade: Buy a June hog at 88.25 GTC with an 86.15 Stop. MA support should be heavy just under 88.00.

Grain prices mixed/lower despite the weekend freeze and Black Sea concerns. Grain prices are mixed to lower to start the week, despite what was likely some winterkill in HRW/SRW wheat country and concern that Russia will halt the Black Sea Grain Corridor by mid-May. It’s the sharp decline in Brazilian beans still remained weak, with…

Cattle On Feed On Feed: 96% vs 94.8% estimate Placed: 99% vs 94.9% estimate Marketed: 99% vs 98.8% estimate The report is considered slightly bearish based on the placement number.

Futures lean soft to start trading day of the week. Concern about the central bank raising the interest rate by 25 bips in 11 days in rising. Commodity prices have been somewhat of an indicator of this happening with the bearish trade recently along with the sluggish stock market. This is looking to be the…

Spec trade: Buy 2 (July) micro-crude oil at the MKT, 76.90 last and 2 more at 75.75 GTC with a 69.50 stop.

Rains on the Plains are on the way. Wheat futures continued their collapse overnight, dragging row crops with it, as rains that were pushed south and east in yesterday’s forecast have now been brought back in the western portions of Kansas. According to the EU and Canadian weather forecast models, the best rain since the…