Wheat and soybean prices this morning are higher on the week if the grain trade doesn’t change that by today’s close. This morning’s grain trade is mixed with wheat maintaining yesterday’s gains while corn and soybeans drift slightly from yesterday’s higher closing on demand. Export sales were well above expectations for corn at over three…
What Will WASDE Have To Say? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1108215645 Corn: Reversed off lows, broke below $4 but rallied near highs on 3.16 MMT exports vs 2.0 expectedWASDE yield guesses average 184.1 bpa; key resistance at 410–416Crop faces sun shortages despite rain, limiting upside Soybeans: Old crop sales beat estimates…
Short covering dominates after yesterday’s corn reversal. Grain futures are higher this morning after corn’s impressive reversal on Wednesday, breaking below 4.00 and closing at its high for the day. Export sales out this morning were impressive, with new crop corn over 3 MMTs and wheat at 737,800 MTs. Short covering is occuring ahead of…
Soybeans firm on recovering soybean oil. This morning’s grain trade has firmer soybeans, following soybean oil rebounding as crude oil gains nearly $1.00. Pres. Trump has escalated his threats to India that he will raise their tariffs if they continue to buy Russian crude oil. The deadline is fast approaching for Russia to produce a…
When Is ‘Big’ Big Enough? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1107521111 Corn: StoneX pegs yield at 188.1 bpa, higher than expectedOther models showing 184–186, AI models even higherHeat seen in Kansas/Nebraska but mostly irrigatedEuro model adds light Midwest heat Aug 15–18Rain stays in forecast, no major “dome of doom”Corn sliding toward $4;…
Soybeans challenged $10.00 despite high yield guesses. This morning’s grain trade is mixed/higher with soybeans leading the recovery. After StoneX released its highly expected large yield, and did not disappoint, they put out a yield of 188.1 BPA on corn and 53.6 BPA for beans. The market had already anticipated a high corn yield, so…
OPEC increases oil production over the weekend. Grains are mixed this morning, with wheat turning slightly higher on a weakening US dollar that continues to soften from Friday’s jobs number. French milling wheat again is firm this morning, up $2.25 a metric ton at $196.75. This will likely cause interest rates to be pushed lower…
It’s the first trading day of the month, and tariffs are underway. A mostly softer trade overnight with beans and wheat in the lows of where they ended July, while corn maintains moderate strength off the July lows. The calendar flipped to August, but so far, it has not brought buyers to the market. The…
Feeders Flame Out Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1106245253 Feeder Cattle: Outside day down posted, signaling potential near-term trend change Hit and rejected 340.10 high, above prior 337 target Extension math shows measured move target was 340.70 Support zones seen at 329 (17-day MA) and 325.5 (38% retracement) Possible wave A down…
A soft tone greets the last trading day of the month. Futures were narrowly mixed overnight, with month-end positioning being a primary focal point. The August contracts went into delivery overnight, and numbers were mostly as expected. Soybean deliveries were a little lighter than anticipated, which is positive. The fresh news is very thin this…
