Oops, The USDA Did It Again Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1112083933 Corn: Prices up over 20 cents in a week, breaking resistance Pro Farmer tour shows weaker ear length, kernel depth, crop variability USDA yield assumptions questioned, especially on Southern acres Exports 860,000 MT, above highest estimates December corn holding above…
Big exports are meeting a big crop. Futures are higher this morning with grain on the plus side. Fresh news is light this morning, as it has been all week. Crop tour results continue to point out good yields, but not the level needed to reach current USDA production estimates. More cases of corn disease…
Grains are mixed to start the morning. It’s a mixed morning for trading, wheat again pushed to a new low by a few pennies, just to recover to settle out mixed in the morning. Meanwhile, corn and beans are fractionally softer. The Pro Farmer crop tour continues to find big yields, which is unsurprising. Though…
Turnaround Tuesday is softening the corn price. This morning’s grain trade is mostly lower, with corn turning softer after a four-day bounce, while beans are also starting to relax. Soybeans are finding support from a soybean meal market that continues to see the exodus of a massive index short position caught on the wrong side…
Does the PF Tour Matter? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1111442124 Corn: Turnaround Tuesday closes firm despite USDA’s big yield report Support remains above last year’s lows, potential head and shoulders bottom forming Soybeans: Correcting lower as bean oil drops on renewable fuel rumors Wave counts suggest pullback before possible advance toward…
The Pro Farmer tour starts today Futures opened the week on the defensive, with grains and oilseeds posting moderate declines. Much of the pressure comes from correcting last week’s rally, with the soy complex taking the brunt of the losses. Support for soybeans comes from Friday’s stronger-than-expected NOPA crush report—July crush volumes reached a six-month…
December corn trades back above 400 overnight after this week’s large corn production number. This morning’s grain trade is higher, with December corn trading over 400 despite the USDA’s big, beautiful 16.742 billion bushel corn crop forecast. Demand is the focus, and the world stocks to use for corn is 9.2%. It’s not exactly comfy…
Cattle Blew A Gasket Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1110106473 Corn: Stability returned after USDA’s 188.8 bpa yield and 97.2 million acres estimate End-user buying interest supported prices near Tuesday’s lows Global corn stocks-to-use ratio at 9 percent could tighten further if Brazil or Ukraine face export issues Soybeans: Prices peaked near…
The grain trade relaxes from yesterday’s price rise. Profit-taking emerged in the overnight trade, which came as little surprise after yesterday’s strong rally. The soy complex in particular had logged two consecutive sessions of gains. Fundamentally, little has changed in the market since Tuesday’s WASDE release. U.S. weather remains less than ideal, with additional reports…
Soybeans continue their impressive price rise overnight. Soybeans are extending yesterday’s strong performance, corn is working on a rebound, and wheat is trading with mixed direction. The surprise cut to the U.S. soybean stocks-to-use ratio was the primary source of yesterday’s strength, as tighter new-crop inventories will require rationing. Any further production downgrade at this…
