Pres. Trump removes the 40% tariffs on Brazilian foodstuff, which includes beef. Futures remain under pressure this morning with limited buying interest. Fundamentally, not much has changed this week, and if anything, the recent increase in Chinese export sales has improved the outlook, particularly for the soy complex. However, much of that support has been…
Bargain-Bin Grains Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1139075321 Corn:Solid export sales, friendly fundamentals ignoredWave two decline likely near 432 to 437 supportSeasonal Thanksgiving week rally potentialMajor support zone aligning with last year’s pattern Soybeans:Wave three peak set at 1169 and a halfWave four correction targeting 1114 then possibly 1098 to 1085China still…
Strong export sales helped grains recover overnight in price. Grain futures rebounded overnight as bargain buying followed two sessions of profit-taking. Despite the recent wave of selling, there’s been little change fundamentally to justify such pressure. In fact, demand has been steadily improving. The renewed interest from China in U.S. soybeans has helped erase fears…
Soybeans retreat from recent gains, awaiting further Chinese buying. This morning’s grain trade has soybeans on retreat, as the market has initially absorbed the two MMTs of beans purchased by China, amid the prevailing bearish fringe’s constant doubt that they will do any more the rest of this year. As China fulfills its agreement, the…
Grains Continue Their Advance Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1138252214 Corn:Market structure supports continued strengthMulti-layered wave counts align toward 468 to 470Support held on last pullback, confirming trendPotential Chinese demand or January revisions could fuel move Soybeans:Chinese buying drives new fall highsWave count targets 1191 to 1200 aheadExpect fourth-wave pullback before January…
Chinese buying interest persists. After spending the overnight session in negative territory, commodity prices firmed as the session progressed. Demand is the keyword in trade right now, following yesterday’s rumor that China had booked US soybeans during the session. It is believed that China booked 14 US soybean vessels yesterday, 8 from the Gulf and…
Grain prices recover from Friday’s washout. The market is seeing a moderate rebound this morning following last Friday’s negative reaction to the November WASDE report. While the numbers were not outright bearish, they fell short of expectations, prompting profit-taking on long positions heading into the weekend. Although the data wasn’t strongly bullish, the reduction in…
Crop report preview for Friday The grain trade experienced a mixed start to the week, with initial pressure leading to lower prices in wheat, soybeans, and corn. However, buying interest in corn and recoveries in wheat and soybeans led to a positive turnaround. The market anticipates lower yields for corn and soybeans in the upcoming…
Cattle kicks higher, Grains hold the line Cattle rebound sharply but face resistance amid Brazil tariff uncertainty, soybeans eye higher highs, corn stabilizes ahead of USDA, wheat reverses cycle low, crude oil rebounds toward $63 resistance. Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1135883559 Macro Market Recap Cattle:Feeder cattle surged early but closed weak…
Trump’s tariff repeal has the grain trade on edge. This morning’s grain trade has wheat and corn on the softer side, while soybeans are trying to consolidate and recover from Thursday’s sharp losses. Soybeans are trying to find a footing on the hope that Chinese business will continue according to the trade agreement, whether by continuing…
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