Corn Bears Are Getting Ready For Hibernation Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1115279542 Corn: Strong export inspections, year-to-date 29% higher than last yearBroke moving average and April trendline resistanceResistance around 430 range; short-term upside may be limitedOld crop and March contract sales recommended for hedgers Soybeans: Export inspections up 11% year-over-yearChina expected…
Selling dominates the start of the month. After a substantial upside move in the metals overnight, with silver reaching new 11-year highs of $41.99 and crude oil rallying to $66, up two dollars on the session, they are now deflating across the board, with stock indexes coming in sharply lower to start the first trading…
Corn finds follow-through buying from yesterday’s strong close This morning’s grain trade has a firm corn market, with yesterday marking the third-largest weekly export sales number on record. The trade is mixed on wheat, while soybeans soften. Bean oil has continued to weaken since last week’s euphoric high, as the EPA movement for reallocating SREs…
The Big Reversal Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1114033165 Corn: Strong reversal with an outside day up Fear of early frost supporting prices Targets seen in 425 to 435 range Soybeans: Consolidating above 1140 with bullish pennant formations Breakout above 1050 could push toward 11 to 12 dollars Tight carryout potential if…
Canada released its crop numbers this morning. Futures are trading in a narrow, mixed range this morning as the market awaits fresh direction. With little new information available, traders are focused on actual harvest data rather than adjusting positions based on crop estimates. Tomorrow marks the first notice day for September contracts, and with a…
The grain trade softens overnight. Grain trade is under pressure this morning, with wheat leading the weakness. Soybeans are trying to find support as weather models continue to indicate a dry finish to the growing season. While no significant soybean production losses are expected, given current balance sheets, the complex cannot afford yield losses of…
Cattle Won’t Back Down Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1113361953 Cattle: Live and feeder cattle resilient despite health scare headlineBoxed beef up over $6 supports higher live cattle bidsOctober cattle could test 242, feeders eyeing 370 to 372Timing window for seasonal top still open into mid September Hogs: December hogs punched new…
Beans bounce on hopeful trade talks. Grains are mixed this morning, while soybeans get another firm bounce as the Wall Street Journal put out a story that a senior Chinese Trade Negotiator will be traveling to meet with US officials later this week. Speculation is that the visit is related to a desire by the…
Grains are starting the week firm The grain trade is starting out with a firm start for the week. The trade is digesting the smaller yield estimates from the Pro Farmer crop tour than what we had from the latest USDA WASDE report. This reduction has only elevated market disagreements on US crop potential. While…
Cattle On Feed On Feed: 98.4% vs 98.1% estimatePlaced: 93.9% vs 91.2% estimateMarketed: 94.3% vs 94.1% estimate Placement number slightly negative to pre-report estimates.
