Soybeans lead overnight sell-off. Grain futures worked lower overnight, led by the soybeans, as rain moved southward into northern MGDS/Sao Paula/N Parana overnight, bringing rains of 1-2”. The heavier rains were more of a localized event. This weekend, there is still the potential of rains in these same areas. Otherwise, there is no change in…
Selling in commodities continues into mid-week. Technical selling developed overnight across the grain board from corn and soybeans making new six-month highs early Tuesday morning and closing near the session’s lows. This is prompting profit-taking, technical selling with the end of the tax year three days away. Significant gains seen in commodities over the past…
Spec Trade: Buy a March Bean at 1358.4 with a 1341 stop. (Sunday night low at 1342.4)
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…
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…
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.
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….
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.
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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