Wheat again leads overnight losses, with soybeans only having losses of a penny. Grain futures opened softer Sunday night and, after a short period of consolidation, continued to move lower overnight, led by wheat. First notice day for the March contracts is this Friday, along with the USDA’s Annual Outlook Form on Thursday with their…
Cattle On Feed On Feed: 99.3% vs 99.2% estimate Placed: 101.7% vs 102.2% estimate Marketed: 101.4% vs 102.1% estimate The Cattle On Feed report was mostly neutral compared to pre-report expectations. The stock market’s reaction on Monday to Friday’s heavy losses will likely influence next Monday’s opening as well.
Wheat leads overnight recovery after two sessions of losses. This morning’s grain trade is steady firm, with wheat leading the recovery after today’s setback, while soybeans pause from yesterday’s strong recovery gains. Export sales numbers this morning were considered good, with corn sales near 1.5 MMTs and wheat over 500,000 MTs. Soybeans are also reasonable…
Beans Defy Gravity Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1058734747?share=copy Soybeans: Holding strong due to a weaker US dollar and a strengthening Brazilian real.Brazil’s large crop not heavily pressuring US prices; potential Chinese buying supports market.May contract holding above key moving averages suggests further upside potential. Corn: Supported by index fund buying, drought…
Grain prices recover overnight on Pres. Trump comments. Grain futures recovered overnight from Wednesday’s heavy selling, as Pres. Trump indicated a new US/Chinese trade deal could be possible as he was aboard Air Force One late Wednesday. Trump suggested that a deal would head off of ruling a new trade war with China and could…
Due to the Monday holiday, the grain trade looks to do a Turn-around Tuesday on Wednesday. After a firm overnight trade, corn, soybeans, and wheat softened in the morning hours in an almost delayed Turnaround-Tuesday affair on Wednesday. Large index money managers bought commodities yesterday in a risk-on play as equities are overvalued. In contrast,…
Corn Clears $5 Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1057983305/a3e12f9c35?share=copy Cattle: Live cattle pullback nearing completion, resistance at 197 for confirmation.Feeder cattle show early signs of turning up, key support at 259-260.Complex market suggests selling calls and puts over directional trades. Corn: Corn hit $5.02, confirming the predicted first-quarter rally.Further upside expected, with…
Corn leads overnight recovery strength. This morning’s grain trade is mixed after a lower start overnight. Strength in corn has the spot March contract challenging $5.00, throwing support to the soybean and wheat market as Friday’s highs come back into focus. Corn cash basis in the Eastern Midwest firmed late last week, with the Central…
Grain futures higher, wheat leading with arctic cold temps blanketing the plains for the next week. In the wheat belt, there will be 20-30 degrees below average temperatures for the next 8 days which will raise concerns over potential winterkill risk with the lack of snow cover. The trump administration did not announce reciprocal tariffs…
