Grain futures look to Friday’s WASDA report. Grain futures had a firm session overnight on light volume after the three day holiday weekend on rumored Chinese buying of futures in place of FOB/CIF bids which are unavailable at the Gulf. Typical with overnight strength, grain futures faded in the later hours of the morning session….
Grain futures recover overnight losses to end with a mixed trade. Unlike the last several nights that were grains started firm and then declined into the early morning hours, grain futures were under pressure overnight, with corn and wheat bumping Wednesday’s lows and soybeans holding those before a moderate bounce surfaced in the morning hours….
Spec Trade: Rebuy the March Corn at MKT, 529 last with a 524.4 stop. In review you’ll see that the Dec corn has found itself at the trend line which matches the lows since last fall. Also there was a double bottom on the continuation corn chart with the July low. If this value holds we could…
Spec Trade: Buy a Dec 21 Live Cattle at 133.55 with a 132.75 stop. Take a $1.50 profit if filled.
Grain futures remain concerned with load-out capacity of the Gulf. Grain futures experienced a firm start overnight again with a high by 3 AM, just to see prices drift again into the night session close. The focus of the grain trade again stays on the Gulf export corridor and when electricity will be restored to…
Spec Trade: Buy 1 full size Nov22 Soybeans at the MKT, 1258 last with a 1245 stop
Spec Trade: Buy a March Corn at the MKT, 537 last with a 529.4 stop.
Grain futures are concerned with load-out capacity of the Gulf. Corn and soybean moved higher in the evening session while wheat values were stagnant. Selling pressure renewed early this morning as reports came in on Gulf export capacity. CHS is reporting minimal structural damage, but that the restoration of power could take weeks. As a…
Crop Condition Ratings Corn ratings gd/ex came in at 60% which is steady from last week’s 60%, average guess was steady. Bean ratings gd/ex came in at 56% which is steady from last week’s 56%, average guess was steady. Data is considered neutral with pre-report expectations.
