Bean Trade
Spec Trade: Buy a March Bean at 1358.4 with a 1341 stop. (Sunday night low at 1342.4)
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Morning Update 12/28/21
Turn-around Tuesday gets rolling in the morning hours. Row crop futures pushed sharply higher overnight for soybeans and higher for corn, while wheat struggled due to yesterday’s poor technical performance. Adverse South American weather continues to draw money in from index funds that want to own hard assets. Turn-around Tuesday kicked in by the morning…
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Morning Update 12/27/21
Grain futures start last the week of the year higher. Overnight grain futures pressed higher after the Christmas holiday break, as the stagnant and persistent weather pattern in South America continues. Rains in northern Brazil, while southern Brazil and Argentina remain mostly dry with rising temperatures. Rainfall across the drought areas over the holiday weekend…
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Cattle On Feed Report 12/23/21
Cattle On Feed Report On Feed: 100% vs 100% estimatePlaced: 104% vs 103.2% estimateMarketed: 105% vs 104.4% estimate Expect steady/higher open on Monday. Hogs and Pigs Report All Hogs & Pigs: 98% vs 97.1% estimate Breeding: 97% vs 100.1% estimate Marketing: 99% vs 96.9% estimate Hog report friendly.
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Morning Update 12/23/21
Today is the last trading session of the week. Grain futures are mixed after of firm overnight session. Today is the last full day of trading before closing for tomorrow’s Christmas holiday weekend. World financial markets and crude oil and metals are higher, as omicron variant infection is commonly understood as only creating mild illness….
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Hedge Alert 12/22/21
Hedge recommendation: From the Weekend Hedger Target 1335 on March soybeans to make a 25% sale of 2021 beans. Target 622 on the March Corn contract to make a 15% sale of 2021 corn.
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Morning Update 12/22/21
Grain futures have corn over $6.00. Grain futures continued to press higher overnight led by soybeans. Corn has pushed to the highest price since July 1 and is above $6.00, with March soybeans near $13.30. Acute drought stress is occurring across southern Brazil, and Argentina with limited rainfall forecasted over the next 10 days. Yesterday,…
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Morning Update 12/21/21
Grain futures have a mixed start for Tuesday. Grain futures found overnight stability with Dow futures and energy values also recovering after Monday’s massive risk-off liquidation. Dow futures and energy values are recovering at is again becoming understood that omicron is not a major threat other than it is the variant which is very contagious,…
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Morning Update 12/20/21
Two fears drive markets. Omicron and SA building drought. Grain futures have two concerns this morning. The initial concern is the deepening drought across S Brazil and Argentina, showing no signs of rains but in increasing temperatures into early 2022. The second concern is the spread of the covert variant omicron across the world and…
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Morning Update 12/17/21
South American weather becomes focus. Grain futures were mostly higher overnight with corn mixed as holiday reduced volume continues to come into play while index funds completing their re-balancing yesterday. This is the last full trading week of 2021, with the next two weeks being shortened to four-day weeks. Open interest data shows that funds…