Author: Ivan

USDA Crop Production report out today. Grain futures experienced a mostly firm overnight session after becoming severely oversold ahead of today’s September USDA crop report out at 11 AM CT. Progress in restoring the US Gulf export capacity is quickly coming into place. ADM announced that it will restart two export facilities (Ama and Reserve)…

FSA makes an accidental early release. Grain futures resumed the ongoing bearish trend overnight, with wheat and corn making new lows while soybeans continue to hold last week’s lows. The bearish price attitude continues over the concerns of Gulf export closures persisting even though yesterday Entergy reported that 90% of New Orleans has power and…

Spec Trade: Buy March Corn at the MKT, 522.6 last with a 516 stop. Entergy will have power up in 2 days.

Corn and soybeans find stability. Corn and soybean futures again mounted a mild bounce overnight, as there is growing hope that of the 12 export facilities in the Gulf that several will receive power before the end of the week. Slowly, Gulf elevators will be brought back up in the next week, but it will…

Crop Condition Ratings Corn ratings gd/ex came in at 59% which is down 1% from last week’s 60%. Bean ratings gd/ex came in at 57% which is up 1% from last week’s 56%. With Crop becoming mature these rating are becoming less price impactful.

Spec Trade: Buy a Dec KC Wheat at the MKT, 717 last with a 704 stop.

Grain futures look to Friday’s WASDA report. Grain futures had a firm session overnight on light volume after the three day holiday weekend on rumored Chinese buying of futures in place of FOB/CIF bids which are unavailable at the Gulf. Typical with overnight strength, grain futures faded in the later hours of the morning session….

Grain futures recover overnight losses to end with a mixed trade. Unlike the last several nights that were grains started firm and then declined into the early morning hours, grain futures were under pressure overnight, with corn and wheat bumping Wednesday’s lows and soybeans holding those before a moderate bounce surfaced in the morning hours….

Spec Trade: Rebuy the March Corn at MKT, 529 last with a 524.4 stop. In review you’ll see that the Dec corn has found itself at the trend line which matches the lows since last fall. Also there was a double bottom on the continuation corn chart with the July low. If this value holds we could…

Spec Trade: Buy a Dec 21 Live Cattle at 133.55 with a 132.75 stop. Take a $1.50 profit if filled.