Short covering is in vogue to start Thursday’s grain trade. Short covering is giving the market some much-needed support this morning. Futures were starting to crowd oversold, with a market mostly void of risk premium. US crop conditions remain favorable, but we did see deterioration in soy condition last week. Reports are starting to come…
Pres. Trump announces Japanese trade deal. Overnight futures trading was mixed, with prices fluctuating on both sides of unchanged. Much of the movement stemmed from headlines that the US and Japan have reached a new trade agreement, though specific details remain limited. The deal raises hopes for expanded trade between the two nations, which is…
Is This the Final Nail in Wheat’s Bear Market? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1103570859?share=copy Wheat: Russian farmers withholding supply, pressuring short positions and helping firm global prices. US winter wheat harvest ~75% complete, easing forced sales and turning focus to stored bushels. Outside day up in December wheat signals technical strength…
Soybean crop ratings declined for soybeans, with minimal market reaction. This morning’s grain trade has wheat finding footing while corn and soybeans remain soft. Soybean ratings had dipped yesterday, causing a firm start to the night session, but gave way to selling, as price seasonals remain weak now through the end of the month. There…
Wheat recovered from overnight losses while row crops show mild weakness from weekend weather. Overnight markets were mainly mixed, with corn and soybeans trending lower while wheat posted modest gains. Corn and soybean futures are under pressure to start the week following weekend rainfall across some of the Corn Belt’s driest areas, particularly in northern…
Corn and soybeans recovered this week from what they lost last week. Corn and soybeans continue to move higher from yesterday’s consolidation. Early Monday morning’s lows for December corn near 408 and November soybeans at 998.2 proved to be a vacuum that index funds could not get others to follow their selling. Since Monday, we’ve…
Soybean Oil Steals the Spotlight Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1102303767?share=copy Corn: Corn held firm overnight despite the Coca-Cola cane sugar news. Market faded into the close after soft export sales and overbought signals. Traders dismiss the Coca-Cola narrative as yesterday’s news. Pollination issues surfacing in areas with extreme nighttime heat stress….
Grains start Thursday with a soft tone led by wheat. Futures see modest pressure early Thursday as traders take profits following Wednesday’s rally. The market remains choppy and directionless as it weighs conflicting signals. Overall, US weather continues to be supportive, and combined with expectations for a large crop, this is keeping a lid on…
China shopping for US soybeans? Corn continued its short covering for the third day overnight, while soybeans bounced off $10.00 on some chatter that China is shopping for soybeans off the Pacific Northwest. Freight rates reveal that someone is looking for something in that area. China currently has no corn, soybeans, or wheat bookings from…
Prospects of a Cattle Top and Corn Bottom Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1101660020?share=copy Corn Corn held late-session gains after Monday’s outside day upSugar import restrictions lifted sugar prices, slightly boosting HFCS demandFailed to hold above the 420 resistance markTechnicals show support near 408, with possible downside to 385Farmer selling likely paused…
