Author: Ivan

Spec trade: Buy a December Chicago wheat at the market 657 last with the 639 stop.

The grain trade is mixed from overnight action. Grain futures are producing a mixed reaction from yesterday’s trade this morning, while soybeans are finding support, specifically in the old crop position. Traders are contemplating how much weather premium needs to remain with the forecast for August reaching into mid-month, producing better-than-normal precipitation and temperatures that…

Russia targets more infrastructure on the Danube River overnight Overnight grain futures reacted higher as Russia again attacked Ukraine’s inland port on the Danube River near Izmail and damaged grain silos. This is across the river from NATO member Romania. This had Chicago wheat futures almost $0.30 higher at one point, while corn traded $0.15…

A mixed trade to start the first day of the month. Grain futures are mixed with wheat and corn softer this morning while soybeans stabilize. Yesterday’s crop ratings had corn down 2% to 55% G/E, while soybeans were also down 2% to 52% G/E. Even though this week will likely bring improving ratings into next…

The grain trade moved sharply lower Sunday night. Grain prices opened sharply lower and continued sharp losses overnight as weather for the Lake states produced weekend rains that were heavier precipitation than forecasted, and models reduced heat from the Midwest that had been forecasted for this week to return. The markets have shifted their focus…

Grains lower on follow-through Thursday weakness. Grain prices tumbled lower overnight on yesterday’s poor technical closes and rains developing for the Ohio Valley. First notice day for deliveries is Monday for August soybeans, and recent sharp gains were severely corrected yesterday into the overnight. Russia did not attack any further grain infrastructures overnight as it…

Spec Trade: Buy 2 Dec mini-wheat at the MKT, 736 last with a 690 stop.

Grains lower overnight as military actions remain quiet in Ukraine on grain infrastructure. Grain prices softened overnight while soybeans traded on either side of unchanged. There were no Russian strikes on Ukrainian grain handling facilities overnight, which are on pause, but it is noted that there were reports of blasts from sea mines surrounding Odessa…

Grains lower on military pause in Ukraine and potential rain. The Monday night grain markets opened firm/higher on disappointing expectations on crop condition ratings, while wheat continued short covering as index funds scrambled to reduce their position size. Turnaround Tuesday came early as grain futures turned lower to sharply lower in the evening as expectations…

Russian drones strike Ukrainian port near a NATO nation. Grain futures opened initially higher overnight on the dry and hot Midwest forecast, but the overnight trade moved sharply higher as Russian drones destroyed warehouses on the Danube River terminals in new attacks across the river from neighbor member Romania. The port of Reni is directly…