Things To Worry About Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1088166823/3d904d6c08?share=copy Cattle: False report of screw worm outbreak in Missouri triggered sharp intraday cattle selloff.Feeder cattle fell over $7/cwt; live cattle down $4 before partial recovery.APHIS debunked the story, but markets failed to return to unchanged.Technical setup suggests more downside; wave patterns imply…
Corn and wheat softened overnight while beans maintain price strength. This morning’s grain trade is mixed after a mostly firm start last night. Wheat and corn values have weakened due to improved weather forecasts for the Western Corn Belt, with rain moving through some of those states this morning. Soybeans remain firm as President Trump…
Cattle On Feed On Feed: 98.5% vs 98.5% estimate Placed: 97.4% vs 96.8% estimate Marketed: 97.5% vs 96.7% estimate The report came out similar to the pre-report estimates, impact on Tuesday’s reopening should be neutral.
The grain trade is softer ahead of the three-day weekend after strong gains this week. The grain trade is softer this morning, with soybeans breaking in the early hours after President Trump announced he would raise tariffs on the European Union by 50 percent, effective June 1, citing a lack of progress in trade talks….
Mild Grain Corrections Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1086885847?share=copy Corn: Corrected slightly but held above key support levelsOld crop exports strong, 100 million bushels above USDA paceMarket bridging gap to Brazilian safrinha harvest in JulyDecember corn near 62% retracement, watching for push to 470Prevent plant and disease pressure building in the Delta…
Soybean oil struggled overnight with changes to 45Z tax credits. This morning’s trade is mixed following a mostly lower evening session. Last night’s correction began as soybean oil moved sharply lower due to disappointment over the 45Z tax credits being diminished in the Congressional budget bill. The credits lost transferability, reducing their value to biofuel…
Grains are universally higher this morning. The grain trade is higher this morning as buying interest continues to resurface, with index funds actively short covering in both wheat and corn. One driver of this move is the addition of a risk premium, as more doubt is being cast over current USDA production estimates, especially for…
Wheat Low Has Anchored Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1086157602?share=copy Wheat: Wheat rally continues amid disease pressure in Kansas and soft wheat areasSevere drought and extreme heat in China’s main wheat belt drawing global attentionChina’s poor crop could reduce global supply and increase demand for imports later in the yearV-bottom formation complete;…
Spec trade: Sell an August Live cattle at the market, 207.75 last with a 210.12 stop.
Wheat leads overnight strength. This morning’s grain trade is sharply higher in wheat, while corn is also recovering well due to concerns that rainfall may impact final acreage totals. Preventive planting is becoming a growing topic in the Delta and Southern Midwest and in parts of North Dakota, which have been inundated with rain over…
