Grains start softer to end of the week. It’s a mixed morning for grain futures, with soybeans softer on the Chinese tensions after the downing of a Chinese weather (spy) balloon, which does not help that the political relationship between the two is straining over the Taiwan issue. China has been known in the past…
Grains start softer to end of the week. A Chinese high altitude spy balloon was caught passing through airspace over Montana yesterday. This doesn’t help the US/China relationship that has already been deteriorating and can also affect grain trade going forward. Grain futures did fall on the news of the balloon but have since bounced…
The Fed stayed soft on inflation Grain prices firmed overnight with soybeans quickly recovering the bulk of yesterday’s losses as index funds quickly moved in support their soybean meal position and buy commodities in general with the new low for the year on the US dollar. Friday’s jobs report is anticipating another 180,000+ job growth…
The first trading day of the month starts grains out soft. Grain futures are softer to start the month, as moisture is starting to fall in Argentina, as forecasted into tomorrow before a drier stretch occurs. The trade is waiting on a decision on the Egypt wheat tender today, which will be financed to the…
Cattle Inventory Total US Cattle Inventory: 97% vs 97.1% estimate Total Calf Crop: 97% vs 97.4% estimate Report came in neutral to expectations.
Turn-around Tuesday hits overnight. Grain futures sagged overnight as Turnaround-Tuesday kicked in after the night session got underway. Monday’s strength in beans was met with Argentine premiums declining, with soybeans out of Brazil now bid $0.50-.55 under March, which is $0.70-.75 cheaper than US Gulf soybeans offered at $1.15 over. Brazil’s 48% March soybean meal…
Grain trade moved higher after recent rains. Grain futures moved higher overnight as beneficial rains did arrive over the weekend. Still, the market is focusing on the dry stretcher weather ahead in the seven-day forecast, along with the excitement that China “may” be buying Ag products coming out of their Lunar New Year holiday and…
Grains are higher then last Friday, but strength is being checked. Friday morning’s grain trade is lower across the board after minor strength arrived on the night session opening. Needed rainfall is starting to fall across the Argentine crop areas, and the grain trade has invested a lot in China returning after this week’s New…
Grains firm overnight. Index funds short covering out of wheat. Grain futures are higher with follow-through buying from yesterday’s firm performance, as export sales data was anticipated to be robust and was confirmed this morning with strong sales at estimated expectations. Also, the market expects China to return next week being a buyer. Still, it’s…
Spec trade: Lower stop on short March beans to 1505. Lower stop on March corn to 682.