Wheat trades limit for the 7th session in a row Wheat futures moved limit higher again overnight, creating a limit status move for the seventh session in a row. Rumors of Russian troops capturing Europe’s largest nuclear energy facility in Zaporizhzhia, Ukraine, and it was incorrectly reported on fire adding to tensions. The training center…
Spec trade: Sell 1 July Mini-Chicago wheat at 10.80 OB with no stop Our recommendations are always based on a $20,000 balance. We are selling one July mini-Chicago wheat with the intent if it goes up another dollar, we will sell another contract. This price rally is not sustainable. Options are way too expensive to…
Hedge recommendations were filled overnight. Recommendations in yesterday’s newsletter to finish up old crop wheat sales and advance new crop sales further were filled. Logistically most were not given the opportunity to work these orders at the elevator. Hedge recommendation: Make the remaining 10% sale of HRW 2021 wheat at 11.25.Make the remaining 20% sale…
Wheat trades limit for the 6th session in a row. Grain futures pressed sharply higher again overnight with the winter wheat contracts again touching limit up. In what has become a typical format, profit-taking hit grain futures overnight when the French Milling Wheat exchange opened at 3:40 5 AM and profit-taking ensued with markets stumbling…
Spec Trade: Buy a April Live cattle at the MKT, 140.125 last 138.60 stop.
KC wheat trades limit up with massive volatility Grain futures are sharply higher to limit up for wheat prices this morning. Still, they have seen gains completely erased by early morning profit-taking after the French milling wheat market opened, just to recover back to limit higher. Wheat has experienced a $0.75 trading range in the…
KC wheat trades over $10.00 This morning, grain futures are higher, with Kansas City wheat over $10 after trading up the $0.50 limit. US grain values are following world values that moved sharply higher overnight with Paris wheat/corn futures, the Chinese corn, and the Malaysian palm all scoring historic highs overnight. In addition, Malaysian palm…
Raise stops on the following spec trades Long July corn from 643.4, raise stop to just below the overnight low to 658. Long 2 mini-May soybeans from 1626, raise stop to 1608. The overnight low was 1614.4. Long 2 micro-April gold from 1891, raise stop to 1895.
Russia is banned from SWIFT. It was another dramatic start for the week in the commodity trade, with prices sharply higher on the opening as Russia has been removed from the SWIFT international banking clearing exchange. Rumors exist that China will allow Russia to work with its international clearing system (CIPS) that it uses worldwide…
Cattle On Feed 2/25/22 On Feed: 101% vs 100.7% estimatePlaced: 99% vs 98.6% estimateMarketed: 97% vs 97.1% estimate Report came in neutral to pre-report estimates and is neutral for Monday’s resumption trade.
