Author: Ivan

Spec Trade: Buy a March Chicago Wheat at 814.4 GTC with a 804 stop.

Turn-around Tuesday gets underway in the night session. Grain futures are mostly lower after a mixed opening night session. The video conference Monday evening between Pres. Biden and Xi did not go into any details of trade policy or supply chain issues. Instead, the conversation was on managing competition between the world’s two largest economies….

Mixed trade to start the week. Grain futures traded a mixed overnight session, with optimism towards today’s Summit between Pres. Biden and China’s Pres. Xi is being dialed back as the White House states that Ag trade with tariffs, trade war, and supply chain challenges are not on the agenda. Today’s schedule does have the…

Spec Trade: Buy March Chicago wheat at the MKT, 823 last with a 808 stop.

Mixed trade to start Friday. Grain futures initially pushed higher overnight but succumbed to selling in the early morning hours as French Milling wheat retreated from yesterday’s new all-time highs near $300/MT, as Russia raised its floating export tax to $77.10/MT that’s up $7.10 from the last hike in October. Some are thinking it would…

Spec Trade: Re-buy March corn at 573.4 with a 565.6 stop.

French milling wheat pushes another new all-time high again overnight. Grain futures experienced modest profit-taking overnight from yesterday’s sharply higher run, with inflation being the rage and risk on being played across most of the commodity complex except for crude oil. The US government is closed today for our “Veterans Day” holiday alongside Armistice Day…

Hedge recommendation: Make a 25% sale for 2022 KC wheat at 805 on July KC wheat.

Bullish CPI this morning firms grains. Grain futures are higher this morning after a mixed overnight performance. CPI released this morning for October showed consumer prices rising more than expected. This lifted gold through the summer highs and helped crude oil recover an overnight selloff with inflation buying back into the grain complex this AM….

USDA WASDE Report 11/9/21 Report bullish Beans neutral-friendly Corn and Wheat