Again, soybean prices make new contract highs overnight. Grain futures are higher to start the day, as wheat and corn find value buying from yesterday’s sharp setback. Weather premiums continue for soybeans as South American crop losses continue to worsen. This month will see CONAB and the USDA needing to aggressively cut South American crop…
Cattle Inventory Report Estimates: All Cattle 98.8%Cows 98.6%Calf Crop 99.1%. Actual figures: All Cattle 98%Cows 98%Calf Crop 99% Report seems to be mostly neutral.
Soybean prices make new contract highs again overnight. Grain futures were sharply higher overnight, led by the soybean market, as losses begin to mount for the South American soybean crop with another dryer than normal stretch of weather for southern Brazil and Argentina on the way. However, wheat futures gave up significant overnight gains after…
Soybean prices make new contract highs overnight, lead by bean oil. Grain futures were higher overnight with soybean oil leaving the soybean market onto new contract highs. Malaysian Palm oil moved to new historic highs overnight as Indonesia restricts exports. The government’s move was to lower the domestic price of palm oil for cooking needs…
Soybean prices make new contract highs overnight before retreating. Grain futures had a mostly lower session overnight, but soybean prices broke to new contract highs in the early morning hours, taking out the March 2022 contract high made early last June at 10.45. World Palm oil prices moved to new record highs as the Indonesian…
Wheat values spill into correction after $1.00+ advance. Wheat futures spilled into a correction overnight on de-escalating tensions between Ukraine/Russia. At the same time, soybeans found renewed buying overnight on rumored Chinese buying with their Lunar New Year holiday starting this coming Monday. Asia and China are likely forward buying ahead of their holiday because…
Wheat leads the overnight price strength. Wheat futures are higher again this morning, as corn and soybeans follow. Tensions remain elevated over the Ukraine/Russian concerns, with Russia demanding assurances that Ukraine does not join NATO. In addition, the US put 8500 troops on alert for ready deployment to Eastern Europe in case of any escalation….
Spec Trade: Buy 2 March Mini-beans at the MKT, 1393 last with a 1367 stop.
