Author: Ivan

Spec trade: Buy a July Chicago wheat at the market, 622.4 last with a 609 stop.

China may be close to reducing tariffs. Grain Overview Corn and soybean futures moved higher overnight, while wheat traded unevenly across the three markets. The broader grain trade appears to be losing some of the bearish momentum that has weighed on prices. As with any sustained move, sellers need a steady flow of new negative…

Crude oil prices sink below 89.00 on hopes of a return to normalcy in the Strait of Hormuz. The grain trade is under heavy pressure early this morning as crude oil tumbled below 89.00 a barrel. Iran has agreed to shared management with Oman for monitoring traffic through the Strait of Hormuz, and has committed…

Grain futures maintained weakness overnight with volatility. Grain futures opened softer overnight, but fluctuated with challenges of their unchanged marks, as crude oil rose and fell in overnight activity, as the “we have a deal”, “we’re not quite there yet ” deal narratives flip. The Iran War High-stakes peace talks are ongoing in Qatar, even…

Cattle On Feed On Feed: 102% vs 101.6% estimatePlaced: 106% vs 103.4% estimateMarketed: 90% vs 90.7% estimate The report is slightly negative versus pre report estimates for feeder cattle, but the worst may already be anticipated.

Cattle On Feed On Feed: 102% vs 101.6% estimatePlaced: 106% vs 103.4% estimateMarketed: 90% vs 90.7% estimate The report is slightly negative versus pre report estimates for feeder cattle, but the worst may already be anticipated.

Grains are mixed as they brace for a 3-day weekend. The grain trade found a round of buying in the night session, with July beans tagging 1200 again, as crude oil pushed higher towards 100. Word that the Pakistani minister was traveling to Tehran around 7 AM CST for further discussions caused crude oil prices…