Geopolitics drive overnight volatility. A sharply higher start welcomed the first trading day of the month for grain futures, as the outside markets of energy and metals provided supporting opening, more specifically, soybean oil. Immediately after the opening, hedge selling hit corn, wheat, and soybeans. By the end of the morning session, wheat showed mixed…
Weekly and monthly chart gains in the grain complex today look potentially impressive. That is, if the day selling vigilantes lose their influence today. Grain futures found follow-through buying last night as we roll into the end of the month. Wheat futures led the overnight strength, recapturing the bulk of their losses on the week…
Cattle Stumble Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1168625557 Corn Quietly improving structure as soybeans lead No technical damage yet and watching for follow through strength Weather not currently a bearish driver Soybeans 27 cent range and near unchanged close after China headline break Trend intact and consolidation ongoing Target zone 1196 to…
Again, new annual highs overnight for soybeans and soybean oil. Soybean futures are again higher today, along with corn in tow. Soybean oil is again reaching new annual highs, as the Trump administration has released a plan that will require big oil refineries to make up for at least half of the biofuel blending volume…
Just a note that corn is waking up ahead of first notice day. A close above 441 in May corn today would reopen the upside movement.
Another new price high for soybeans overnight. Overnight, soybeans were firmer, gaining a dime at one point in the early session on hopes Pres. Trump would make friendly comments. Yesterday, Ag markets found support from chatter that China may be in the market for May soybean shipments out of the Pacific Northwest, along with fresh…
Precursor To The Lows Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1167874545 Corn February farmer selling tied to taxes, cash rent, and bills has pressured prices. Government payments hitting accounts in March could slow selling pressure. Export inspections were strong and China demand remains a potential catalyst. Market watching for a possible March rally…
Wheat extends its correction that began yesterday, while soybeans consolidate. The overnight grain trade was mostly soft, but at the end of the night session, weakness was only in soybeans and Kansas City wheat. Wheat is trying to go into its second day of correction trading after last week’s spectacular rise, while soybeans are consolidating…
The grain trade softened overnight, but did not implode on Pres. Trump’s 15% section 302 tariffs. Grain futures opened a steady soft on the Sunday evening session and maintained moderate losses in the night session. Global confusion over Pres. Trump’s use of tariffs, which he reapplied under Section 301, up to 15%, has the grain…
Cattle On Feed On Feed: 98% vs 98.4% estimatePlaced: 95% vs 96.7% estimateMarketed: 87% vs 86.7% estimate The report is slightly friendly feeder cattle vs pre report estimates.
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