Grain prices continue to slip lower this week seasonally. Grain prices are mixed to softer as attention remains on the weather and the finish of the growing season. Heat is breaking down across the Corn Belt, and rains are following it. Severe storms hit parts of the Midwest overnight, causing localized crop damage. While this…
This Feeder Cattle Run Is On Fire. Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1105591857 Feeder Cattle: Vertical bull run continues, achieving target of 337Current leg matches golden ratio extension from prior waveAcceleration phase lacks a true “thrust” breakoutOnly four days in July saw a lower low vs. prior sessionWeekly chart shows extreme parabolic…
The grain trade awaits China’s 90-day extension due out during market hours. The grain trade is softer this morning, with wheat doing the give up, as French milling wheat retreats from yesterday’s gains, and US values follow suit. Meanwhile, corn and soybeans hold a penny loss. Yesterday’s crop ratings had corn dipping 73% from the…
Interesting observation. French milling wheat is producing an out-side day up. Supporting US values.
Grains open lower overnight on Argentine tax reduction and favorable weather. Grain prices opened softer last night, but that was about as bad as it could get after the news that the Argentine government reduced their ag export taxes on Saturday, along with what is considered favorable weather. What could have been more substantial price…
Cattle On Feed On Feed: 98.4% vs 99.2% estimate Placed: 92.1% vs 98.0% estimate Marketed: 95.6% vs 96.4% estimate All cattle and calves: 99%Cattle and calves on feed: 99%Calf Crop: 99% All categories were considered friendly compared to pre-report estimates. Anticipate a sharply higher start to Monday’s trade.
Grain prices are on track to slip lower this week seasonally. Futures moved lower overnight, pressured by a lack of fresh developments and light participation ahead of the weekend. Market sentiment remains mixed as crop updates continue to point to the loss of the “top end” yield potential for the US corn crop. However, this…
Grains are Going Nowhere Fast Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1104255085?share=copy Corn: USDA initially announced China bought 120,000 MT corn; later corrected to South KoreaCombined with 280,000 MT to unknown (likely Mexico), over 400,000 MT sold in a dayDespite correction, corn held firm all morning and closed only slightly lowerSeptember contract holding…
Short covering is in vogue to start Thursday’s grain trade. Short covering is giving the market some much-needed support this morning. Futures were starting to crowd oversold, with a market mostly void of risk premium. US crop conditions remain favorable, but we did see deterioration in soy condition last week. Reports are starting to come…
Short covering is in vogue to start Thursday’s grain trade. Short covering is giving the market some much-needed support this morning. Futures were starting to crowd oversold, with a market mostly void of risk premium. US crop conditions remain favorable, but we did see deterioration in soy condition last week. Reports are starting to come…
