Spec trade: Exit the long March corn at 653 OB for a $2130 gain. Exit long March Kansas City wheat at 820 OB for an $800 gain, Should fill at 821. Also, place a GTC ordered to cover the short 760 Kansas City wheat put at a penny for $900 gain. Currently 1 1/2 cents.
CONAB out of Brazil produces low soybean production report. Grain futures pushed to new contract highs for corn and soybeans on a bullish construed CONAB report out of Brazil, with their numerators lowering the crop size to 125.5 MMT’s. This bolted the bean market at 6 AM to challenge the June 2021 highs at 1623…
USDA crop report 2/9/22 All data bearish compared to pre-report estimates. Market action is buying any minimal weakness knowing the USDA is too conservative on it’s data.
USDA Crop Report out today at 11:00 AM. This morning, grain futures have mixed results after a firm night session trade that saw November’s new crop beans pushing a new contract high to 1429.6 before retreating this morning. It’s crop report day today, and typically the February report on a scale of 1 to 10…
Grain futures spill into corrective mode ahead of USDA Report. Welcome to Turn-Around Tuesday, as grain futures reacted lower from the initial start of the night session. It appears the bulls are interested in taking some risk off the table ahead of Wednesday’s USDA February Report. The concern is that WASDA will be conservative in…
Grain futures start the week higher, soybeans make new contract highs. Grain futures pushed higher Sunday night, with soybeans making new contract highs as the market deals with the potential for additional South American crop losses. A lengthy period of dryness now returns to Argentina, and the two-week forecasts keep any meaningful precept isolated to…
Commodity markets await renewed Asian and Chinese buying. Grain futures had raced higher in the night session, with wheat seeing gains of over $0.10, soybeans higher by $0.15, as they came near to tagging the highs of the week, with corn higher by $.06. However, this faded by the morning hours to a mixed result,…
Commodity and equity markets into retreat today. It’s correction day across the commodity complex. With the first of the month behind us, we can see that corn made a high Monday and soybeans yesterday morning, and now a corrective phase and consolidating his in front of us. However, nothing changes the fact that record low…
Spec trade: Place a GTC order to buy March corn at 610.4 with a 597 stop.
It’s Groundhog Day, and again, soybeans make new contract highs. Grain futures are higher this morning after a mixed overnight trade. At 5:30 a.m., soybean futures exploded higher through 1540. They moved $0.20 in one minute as continuing weather forecasts show two weeks of hot and dry weather for southern Brazil and Argentina, increasing concerns…
