Commodity values rebound from Tuesdays washout. Grain futures are firmer this morning, recovering from yesterday’s wide-ranging equity and commodity liquidation. A slow return of risk-on exposure is working its way back from investment managers, as the EU government reports reveal what African doctors stated over the weekend. The omicron variant is mild in less lethal…
Spec trade: Buy a March KC wheat at the MKT, 818.4 last with an 805 stop.
The financial and commodity world recovered overnight from Friday’s sharp losses. Grain futures offered a mostly higher night session, as the new Covid variant is proving to be no worse than the Delta Covid variant. This allowed for a sharp recovery overnight in energies, financials, and metals markets. This buying spilled into the grain complex…
The financial and commodity world risk-off on a low liquidity day. Grain futures are called sharply lower today, with the financial world taking a significant risk-off day in a low liquidity holiday atmosphere. Interesting how the news story is delayed until now when it obviously was apparent already on Wednesday, but concerns over the uncertainty…
French Milling wheat and KC wheat make new contract highs. Overnight French Milling wheat scored new contract highs, with spot December French Milling wheat hitting $312.25/MT before retreating $2, while Kansas City wheat pressed to a new contract high slightly before values started to drift in the morning session. Australian wheat futures rallied $15/MT overnight…
French Milling wheat and US winter wheat make new contract highs. Wheat futures posted new contract highs for French milling wheat, Kansas City, and Chicago wheat on concerns over the ongoing wet weather forecast for Eastern Star Australia continues into this week. 1.5-4.5″ of rain is forecasted to fall across E Australia, delaying harvest operations…
Cattle On Feed Report On Feed: 100% vs 99.7% estimatePlaced: 102% vs 102.5% estimateMarketed: 95% vs 96% estimate Cattle on feed report mostly neutral for Monday’s trade opening
Spec Trade: Buy the March Chicago wheat at the market, current price is 833, with an 818 stop. Wheat trading overnight had Chicago wheat challenging our support zone, with Kansas City wheat performing better overnight, not breaking into the 815-817 area we had projected for a corrective bottom. French milling wheat is turning back up…
