Grain futures gapped higher in the overnight session. Grain futures gapped higher overnight on follow-through buying from Friday’s positive technical close. Dryness on the Brazilian corn crop is now creating a universal thought that the Safrina corn crop is likely producing a Brazilian total corn crop under 100 MTs. The only active contracts that made…
Deliveries arrived for soybean oil and beans. Grain futures are starting the last trading day of the month weaker, as deliveries did arrive for soybean oil in the amount of 629 contracts. There were 66 contracts of soybeans tendered against the May futures, which caused weakness initially overnight. That initial weakness was scooped up and…
A mostly quiet night trade session overnight. Grain futures put in a mild recovery overnight led by the May contracts, as two days of selling from contract highs is bringing in bottom picking. Today is the last day of trading for the May contract before they go deliverable on Friday. It’s also anticipated that Friday…
New crop hedge recommendation: There are two ways to approach the hedge, one can be with a fixed hedge to arrive contract (if you can get them done), or the other will be buying short-dated puts and continuing to leave the upside open. Buy the August 550 Short-dated corn put for 35 cents on 35%…
Has December Corn Topped? Even though the moving average is still holding, I do believe Dec corn has topped for awhile.Looking to sell a bounce to 565-570.
Heavy liquidation overnight after Tuesday morning’s high looks substantial. Yesterday’s weak close and the reality of our premium cash prices to the world market values tripped liquidation into the evening session when the volume is not as substantial as the day session. This created wipeout moves with July corn trading down the 25 cent limit…
Grain futures do an early Tuesday morning price flare out. A high volume of overnight trade with May corn pushing the 40 cent limit along with May soyoil up to 2.50 limit. This created the emotional flare out we suggested in the Monday newsletter that could occur early Tuesday morning, as upside volume shoots higher….
Corn pushes new contract highs across the grain complex The new week is greeted with new contract highs in all grain contracts as concern continues to grow on the Brazilian corn crop and North American weather. It’s weather and the very strong premium basis to futures that lack short interest going in the first notice…
Cattle On Feed On Feed: 105% vs 106.1% estimate Placed: 128% vs 133.7% estimate Marketed: 101% vs 101.1% estimate Report is friendly. Opening call for Monday is $1.00 plus higher.
A mild pause in grain futures overnight on a spectacular run. Grain futures went into a mild correction overnight despite substantial gains yesterday and the week. With corn gaining almost 60 cents, soybeans 95 cents on the week, the basis remains strong. Typically, on such movements to the upside, the basis would weaken, but supplies…
