The grain trade turns lower overnight after mild overnight strength. Grains are under pressure due to a lack of interest from managed money and the absence of a bullish story. Both US and global corn and wheat crops are experiencing stress, but yield loss is difficult to determine at this stage. For corn, the US…
Wheat ends the night steady-firm, while corn and soybeans are soft after a three-day rally. Corn, soybeans, and wheat trended lower overnight as the buying interest that fueled yesterday’s rebound faded. All three markets tested weekly resistance levels before retreating. One factor behind Thursday’s bounce was the forecast for a ridge setting up across the…
Wheat continues to work on validating a counter-seasonal rally. Grains are posting moderate gains this morning, while soybeans are slightly lower. Yesterday, the market found support from the addition of a risk premium. The US weather is not overly threatening at the moment, but it is far from ideal and does not support current USDA…
Wheat Building a Bottom Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1090602967?share=copy Wheat: Bloomberg confirms China’s wheat harvest at 5-year low due to drought; reserves will need replenishing later, likely tightening global balance sheets. USDA reaction expected once mainstream headlines are acknowledged. U.S. harvest delays from persistent rains increasing disease risk, especially in Kansas,…
Grain prices push higher in the early morning hours. Will the trade/(algos) again sell morning strength? Corn, soybeans, and wheat are all trading higher this morning as selling pressure that has weighed on futures is beginning to ease. Futures are approaching oversold territory in the grain markets, and there is little risk premium built into…
Another Outside-Day Down in Cattle Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1090220248?share=copy Wheat: Ukraine hit the Kerch Bridge again, trying to disrupt key Russian wheat flow.Wheat bounced 15 cents but faded later in the session.Dec Chicago wheat shows inverse head and shoulders setup.Rust and disease in Southern Plains threaten major yield loss.Kansas wheat…
Grains turned higher for a Turnaround-Tuesday. Grain futures firmed in the early morning hours after an evening session of lower prices. Follow-through selling from yesterday’s technical close created a slump in the night session as the trade digested crop progress and ratings reports that revealed prospects for reasonable crop production. A bid arrived in the…
The wheat trade leads the overnight strength in grain futures. Grain futures have some strength this morning, with the wheat market leading the overnight gains following increased hostilities between Ukraine and Russia over the weekend. The market is also starting to acknowledge dryness across Canada, parts of Europe, and the Black Sea region, which has…
Soybean oil again weighs on soybean prices. This morning’s grain trade saw firm corn and wheat during the night session, while soybeans remained under pressure due to losses in soybean oil. Weakness developed in the morning session after President Trump tweeted that China was violating the recently updated tariff rules. This took the momentum out…
Counter-Seasonal Rally In Wheat? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1088864072/c2be6c4b9f?share=copy Trump Tariff Ruling and Market Reaction: The court ruled Trump’s tariffs unworkable, but he’s appealing and may use emergency powers to maintain themGrain markets opened higher on the news but faded throughout the dayWheat showed strength into the close, supporting prior V-bottom…
