Exit Long Corn
Spec trade: Exit long March corn at 443.4 GTC. Currently near 440.
Morning Update
The grain trade presses the week’s highs at the end of the week. This morning’s grain trade shows follow-through buying from yesterday’s strong price performance. Soybean oil supports soybeans regarding the strength maintained in Malaysian palm oil. Yesterday morning’s export sales figures put the week’s corn buying activity above what traders expected, with 1.7 million…
Market Quick Take
Are Grains Ready To Rally? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1036508296/c3c943812a?share=copy Corn: Export sales exceeded expectations at 1.732 MMT.Strong seasonal demand expected through early 2024.Price action suggests a push toward $4.58-$4.59. Soybeans: Strong export sales driven by China, despite bearish South American weather.Potential for prices to challenge $10.20 if resistance breaks.Dry weather…
Morning Update
The grain trade is short covering ahead of some key reports. There is a firmer grain trade today, as short covering arrives ahead of US weekly export sales, Stats Canada’s grain production report this morning, and Friday’s jobs numbers, which will have an effect on the US dollar. Next week is the December WASDE report…
Morning Update
The grain trade is soft after yesterday’s poor close. This morning’s grain trade is softer after yesterday’s poor closing, erasing early morning gains. The US dollar is firmer again this morning, trading above 106, while South American FOB soybean premiums continue to look to be in retreat ahead of their respective large crop. This Friday’s…
Market Quick Take
Grains Looking For A Rally To Hold Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1035751168/a92e8d90f4?share=copy Soybeans Soybean oil oversold, yet exports remain strong due to competitive pricing.Potential upside hinges on Argentine weather or unexpected export boosts.Risks include bearish patterns signaling potential drop to $920–$880. Corn U.S. corn is the cheapest globally, maintaining export dominance…
Morning Update
The grain trade starts the week on a softer note. There is a softer grain trade this morning as the session gets underway for a full week. Despite a weak Brazilian real currency and abundant South American rains, soybeans still remained in a range of 975-1000. Wheat awaits export news to take it out of…
Morning Update
This morning’s grain trade will have soybean oil sharply higher while soybean meal will be lower. This morning’s grain trade will have an interesting take on soybean products. A sharp reversal of Wednesday’s action will occur as Indonesia will install their B40 biodiesel blends on January 1, which will have soybean oil sharply higher. Conversely,…
Morning Update
Grains closed today at regular time and will not reopen until Friday morning at 8:30 a.m. CDT. The corn and soybean markets are showing some signs of strength this morning, while wheat seems more influenced by spread action ahead of delivery than anything. The front month is trying to trade higher, but weakness is seen…
Market Quick Take
Trump Traders Try Again Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1033615801/740bc7043a?share=copy Trump Tariff AnnouncementsProposed 10% China, 25% Mexico and Canada tariffs driving immediate market volatility.Fentanyl crisis cited for Mexico and Canada tariff rationale.Market reacting early to policy shifts effective January 20. Corn MarketPrices dropped on fears of reduced Mexican imports, creating buying opportunities.Seasonal…