Grains turn back higher overnight. After a one-day reprieve from the big gains seen on Tuesday, grain futures are again pushing higher today, with short covering the theme in the wheat trade. In classic style, Egypt announced yesterday that it had enough wheat for over four months and then came out with an announcement late…
Grains retreat overnight in Turn-around Tuesday style. After yesterday’s substantial price rise on the day after Christmas, a corrective mode is taking place today, similar to a Turn-around Tuesday. European grain and oilseed futures are higher, trying to catch up to Tuesday’s rally, while US values softened to find equilibrium. We are also seeing crude…
Grains have a firm start expected this morning. After a long three-day Christmas break, the return of trade has the grain trade anticipating a firmer restart at 8:30 a.m. Soybeans are called 3-5 higher, corn 1-2 higher, and wheat is mixed to firm. Disappointing weekend rainfall in Brazil with the forecast that continues to disappoint….
Hogs and Pigs Report All Hogs and Pigs as of December 1st: 100% vs 99.5 estimates Kept For Breeding: 97% vs 98.8 estimates Kept For Marketing: 100% vs 99.5 estimates Cattle On Feed Report On-Feed 103% vs 102.2 estimates Placements: 98% vs 96.2 estimatesMarketings: 93% vs 93.3 estimates Pig report is considered friendly for deferred futures. Cattle on Feed Negative…
Short covering overnight greets the last trading day before Christmas. Today is the last trading session before the Christmas holiday. Grains are closed Sunday night/Monday and Monday evening. Trading will restart at 8:30 a.m. on Tuesday, December 26. Look for thin volume with a lack of participation today. Have a safe and wonderful Merry Christmas…
Grains trade mixed overnight. This morning, Grain prices find wheat in recovery mode while soybeans soften ahead of the impending rainfall anticipated in Brazil through Christmas. After Christmas, the 6-10 day window returns to an abnormal warmth with a below-normal precipitation outlook. Meanwhile, the 11-15 day guidance returns to wet in Brazil, but guidance beyond…
Grains trade mixed overnight. Grain futures are mixed this morning with overnight strength in soybeans found from the large soybean-producing group in Brazil called Aprosoja, putting out crop ejections. It estimated that Mato Grosso’s soybean output is down 20% from last year. If realized, this means Matto Grosso will be down seven MMTs, which is…
A lower trade across the board this morning. Grain futures are lower this morning, with soybeans also drifting ahead of the rain forecast that gets underway Wednesday. The market awaits hopeful results from the rain gauges. Yesterday’s rally in soybeans was tied to Argentina proposing a hike on its soy product export taxes from 31…
A mixed morning greets the start of the week. Grain futures had soybeans opening higher overnight while wheat and corn softened, and wheat produced the prominent weakness throughout the evening session. Kansas led the decline on proving rains again will fall across Eastern sections of the HRW belt this coming weekend. On mediocre volume, movement…
A mixed morning greets the last day of the week. This morning’s grain trade is mixed, awaiting commodity fund interest as the US dollar has topped. Expectations that the Federal Reserve will start to moderate interest rates slightly sometime in 2024 are accelerating the US dollar’s decline from heavy resistance at 104.00. Equity markets are…