Overnight grain futures buck the radar rain. With rains starting in Western Iowa, grain futures moved higher overnight, as concerns about heat and dryness are appearing in the 6-14 day forecast. Nearby rainfall is positive for South Dakota, Nebraska, Minnesota and Iowa but the hot longer-term model threatens crops, as current rain just satisfies current…
Hedge update: Per the Weekend Hedger we are exiting the Short-date corn and bean puts at the MKT. Technical action is implying last week was a low with solid value. Upside potential, though volatile is likely higher from here.
Will the trade turn grain futures lower the day after the crop report? After a mixed overnight session that gave the hint of turn-around Tuesday, grain futures firmed into the close of the morning session. US crop ratings yesterday showed stability following a week of needed rainfall across Iowa and the Central Plains. Stable ratings…
Crop Condition Ratings Corn ratings gd/ex came in at 65% which was unchanged from last week Bean ratings gd/ex came in at 59% even with last weeks rating MWE ratings gd/ex came in at 16% which has a 1 point move from the excellent to the good category Ratings were as pretty much as expected with…
USDA WASDE Report 7/12/21 Report was bullish for spring wheat and wheat futures but bearish soybeans and corn as USDA stayed with record yield potential for new crop corn and beans.
Grain futures under pressure to end the week. Grain futures were mixed overnight, with wheat holding higher until late in the night session when the corn pushed back below 520. Corn is weakening now amid the storms occurring across Iowa and resulting in needed rainfall. Wheat futures are following corn lower, with soy futures holding…
Grain prices on retreat to start Thursday morning. After a higher start and firm trade in the evening, grain futures turned lower as the stock market retreated from new highs on Wednesday to down 500 Dow points this morning. Japan declaring a state of emergency to deal with Covid-19 variance ahead of the Olympics, along…
Grain futures attempt a Wednesday Turn-around Tuesday A mixed reaction overnight to grain futures with soybeans and spring wheat higher on continued eroding condition ratings, while corn is lower again on further margin liquidation with ratings stable week over week. CBT open interest totals for Tuesday’s trade showed a drop of 177 contracts in soybeans…
Crop Condition Ratings Corn ratings gd/ex came in at 64% vs 62% est. which was unchanged from last weeks 64% Bean ratings gd/ex came in at 59% down 1% from last week’s but 1% better than average guess MWE ratings gd/ex came in at 16% down from a 17% est. and down from last weeks…
