What Can Change The Tide? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1096041249?share=copy Corn Crop ratings 2% below trade expectations Crude oil collapse pulling ethanol and corn lower No current weather threats ahead of July 4 Soybeans Soybean oil sharply lower, back to last week’s lows Biofuel weakness weighing heavily on soybeans Crop ratings…
More risk-off trade overnight with a cease-fire. Grain futures continued to post losses overnight, pressured by broader market weakness as a cease-fire was announced yesterday. Gold tumbled another $72, while crude oil fell an additional $3.00 after yesterday’s steep decline. The sharp energy sell-off followed news of a cease-fire between Iran and Israel, which has…
More risk-off trade overnight with a cease-fire. Grain futures continued to post losses overnight, pressured by broader market weakness as a cease-fire was announced yesterday. Gold tumbled another $72, while crude oil fell an additional $3.00 after yesterday’s steep decline. The sharp energy sell-off followed news of a cease-fire between Iran and Israel, which has…
Grains retreat after an overnight higher start. Grain futures opened higher overnight, supported by a strong start in crude oil, but similar to energy, the market reaction faded into the evening. As noted in yesterday afternoon’s report, a higher crude oil open was anticipated due to threats of closing the Strait of Hormuz, a key…
Cattle On Feed On Feed: 99% vs 98.9% estimate Placed: 92% vs 94.1% estimate Marketed: 90% vs 90.7% estimate The placement numbers were slightly lighter than pre-report estimates, alongside marketing being softer than expected. We anticipate a firmer start on feeders, barring any outside events.
Wheat retreats modestly while corn and soybeans continue with gains to end the week. Not much has changed fundamentally in the past 24 hours, with weather and geopolitical developments remaining the primary factors in price discovery. Wheat prices are retreating modestly after Wednesday’s large surge, as world markets are now catching up and reacting to…
The KC wheat futures this morning are at their highest price since late April. Counter-seasonal with harvest for HRW wheat fully underway. Futures traded in a narrow range overnight, with grains showing modest strength while soybeans held steady to slightly weaker. The market appears to be consolidating ahead of another holiday-shortened trading week. Markets will…
Cattle Top & Counter Seasonal Wheat Rally Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1094172817?share=copy Wheat: Futures rallied double digits on concerns over Kansas disease-related light test weights Dry weather in France and Eastern Europe impacting wheat’s reproductive phase December wheat nearing neckline breakout with upside potential to $6 Kansas City and Minneapolis wheat…
The grain trade is set for a Turnaround-Tuesday recovery. Grain futures are mostly firmer this morning, with the exception of Minneapolis wheat, which is down 2 cents. July corn remains near steady and continues to appear undervalued. Weekly corn demand remains strong, even with Brazil’s safrinha crop entering the export market. However, Brazil’s domestic corn…
Soybean oil is sharply higher with expanded limits in place today. Grain futures are broadly mixed this morning, with wheat and corn trading lower, while soybeans find support from a sharply higher soybean oil market, which is rallying in expanded limits. Friday’s announcement of a proposed biodiesel blending rate increase to 5.6 billion gallons came…
