The first weather weekend is on the way. This morning, grain prices are relaxing from yesterday’s rally as winter wheat prices continue to extend their losses. The strength in the US dollar yesterday continued today, with the dollar up $0.51 at 105.32. Trading weather gyrations is becoming the norm as we enter the weather market…
The grain trade recovers on potential heat/dryness setting in. This morning’s grain trade is firmer, with corn leading the gains. CONAB released their data this morning, trimming the Brazilian crop by 340,000 MTs but raising the corn crop by 2.5 MMTs. Meanwhile, the focus remains on the US heat heading for the Central US in…
USDA Report 6/12/24 Domestic carry-outs were mostly near trade estimates mean while South American production was not lowered as anticipated again.
The June WASDE report is out today. This morning’s grain trade is mixed with wheat stumbling again on yesterday’s sharp gains getting corrected while row crops firm on coming extreme heat heading for the Midwest that produces above/much above temperatures and below normal rainfall into June 26. USDA’s reports at 11:00 a.m. CT will feature…
The grain trade starts Turnaround-Tuesday mixed. This morning’s grain trade is mostly mixed as we await the June WASDE crop report out Wednesday at 11:00 a.m. The big focus is going to be the US when wheat production, with traders anticipating increases, will also move right into carryout numbers as a favorable May weather forecast…
A mixed grain trade to start the week. This morning’s grain trade is firmer on row crops as Brazilian farmers are holding grain on the new tax. The US Central weather forecast reflects dry and warm temperatures in the 10-15-day forecast. Wheat futures are softer ahead of Wednesday’s WASDE crop report, anticipating an increase in…
Turkey bans wheat imports for four months. Grain prices are lower this morning, led by wheat, as Turkey, Russia’s second-largest wheat importer, stated that it would halt wheat imports to stabilize their domestic market and reduce a more favorable landscape for its producers. That news pressured French milling wheat heavily, currently down $7.00 at 244.25,…
Thursday’s grain trade starting out higher. This morning’s grain trade is finding a firmer start after a week’s worth of selling pressure since May 28. A pattern shift to a warmer/drier Midwest forecast in the hands of the coming summer weather is creating a pause in the aggressive selling and allowing for pondering that high…
Mid-week price stability arrives. Grain futures are mixed this morning, with pricing stability arriving midweek. When the grain trade is positive, you find strength on Fridays and Mondays with weakness during the middle of the week. When the grain trade is weak, you find a weakness on Fridays and Mondays, with recovery bounces midweek. The…
Wheat trade softens as harvest is fully underway. Grain prices are mixed this morning, with wheat further eroding on the start of wheat harvest in the South and continuing eroding energy prices. Crude oil is down $1.18 this morning at 73.05, with a low of 72.48, which is an albatross to the biofuel factor of…