Improved crop condition ratings soften grains overnight. Grains are lower across the board this morning, led by soybeans, as the NASS weekly ratings showed a 2% jump for corn and soybean G/E ratings when mixed results were expected. Also, no Ukrainian/Russian port threats or attacks occurred overnight, which would’ve created another morning rally to get…
Overnight soybeans sharply lower while wheat maintains gains. Grain futures had seen a sharply divided night session trade as wheat rallied on the return of Black Sea tensions, while soybeans dropped sharply as weekend rainfall was widespread across the belt with 1.5-3.00” of rain. Black Sea weekend action continued with a Ukrainian drone strike on…
New military action overnight in Ukraine lifts prices Ukraine stays in the news as overnight strength returned to the wheat market leading the other commodities higher, as a draw attack on a key Russian export port has now again heightened the Black Sea grain tensions. Russian authorities closed the port of Novorossiysk following a drone…
The grain trade is mixed from overnight action. Grain futures are producing a mixed reaction from yesterday’s trade this morning, while soybeans are finding support, specifically in the old crop position. Traders are contemplating how much weather premium needs to remain with the forecast for August reaching into mid-month, producing better-than-normal precipitation and temperatures that…
Russia targets more infrastructure on the Danube River overnight Overnight grain futures reacted higher as Russia again attacked Ukraine’s inland port on the Danube River near Izmail and damaged grain silos. This is across the river from NATO member Romania. This had Chicago wheat futures almost $0.30 higher at one point, while corn traded $0.15…
A mixed trade to start the first day of the month. Grain futures are mixed with wheat and corn softer this morning while soybeans stabilize. Yesterday’s crop ratings had corn down 2% to 55% G/E, while soybeans were also down 2% to 52% G/E. Even though this week will likely bring improving ratings into next…
The grain trade moved sharply lower Sunday night. Grain prices opened sharply lower and continued sharp losses overnight as weather for the Lake states produced weekend rains that were heavier precipitation than forecasted, and models reduced heat from the Midwest that had been forecasted for this week to return. The markets have shifted their focus…
Grains lower on follow-through Thursday weakness. Grain prices tumbled lower overnight on yesterday’s poor technical closes and rains developing for the Ohio Valley. First notice day for deliveries is Monday for August soybeans, and recent sharp gains were severely corrected yesterday into the overnight. Russia did not attack any further grain infrastructures overnight as it…
Spec Trade: Buy 2 Dec mini-wheat at the MKT, 736 last with a 690 stop.