Wheat leads overnight gains, a reverse of yesterday. Grains are mixed this morning, with wheat leading the advance, on rumors of possible Chinese buying of SRW wheat out of the PNW. The corn and soybean harvest should advance quickly over the next 10 days on a warm/dry trend that should persist, while the Mississippi is…
Wheat lower, while soybeans catch a bid despite deliveries. Grain futures are lower this morning, led by wheat. Soybeans had declined 7-$0.10 overnight before recovering back to steady, as Cargill put out 438 soybean receipts for deliveries with no strong stoppers. Cargill also put out receipts back in October for soybean meal and in September…
KC wheat leads overnight grain weakness. Grain futures are mixed, with wheat sharply lower, Kansas City making new calendar year lows, while soybeans give up strong overnight gains. Soybeans rallied on the poor planting progress experienced on Friday afternoon’s Brazilian progress report. First notice day delivery intentions against November soybeans is tomorrow, with 0 to…
Soybeans firm on on South America planting progress. Corn and soybeans reversed Thursday’s poor closes and pushed higher overnight morning. Crush margins are expanding further on new highs for pricing in spot soybean meal. IMEA’s update for Mato Grosso seeding progress this afternoon’s key and now determining Brazil’s export potential of any in February. Spot…
Wheat firms slightly on Ukraine corridor closing. Grain prices firmed up overnight, but nothing too exciting. According to Kyiv-based consultancy Barva, Ukraine suspended the use of the new Black Sea corridor due to military risks. Pres. Putin ordered the Russian military to patrol the Black Sea, but it was not until recent days that Ukraine…
Mixed grain trade overnight. This morning’s grain trade is softer after soybeans had seen overnight follow-through buying, with meal pushing to shy of the 440/ton price range before retreating in the early morning hours. US export demand and strong physical disappearance will continue into early spring, as Argentina is not exporting meal anymore until next…
The start of Turn-around Tuesday has beans firming. Wheat and corn are finding selling pressure overnight, while soybeans find stability after a 50% correction of last week’s gains. Crop Progress showed that the US corn harvest is 59% complete and the soybean harvest 76% complete. Brazil’s planting progress shows 60% planted in Matto Grosso versus…
Soybeans and corn continue to drift from last week’s gains. Corn and soybean prices are softer this morning, with soybeans leading the larger decline after being the biggest gainer last week. Argentine’s presidential election featured a win for the Peronist party, with their economic minister Sergio Masa capturing 36.6% of the vote and the right-wing…
Cattle On Feed 10/20/23 On Feed: 101% vs 99.7% estimatePlaced: 106% vs 100.8% estimateMarketed: 89% vs 90.3% estimate The report was slightly negative due to placement number.
Soybeans drift from the 200-day MA, but corn holds firm. This morning, grains are mixed with wheat, finding follow-through buying, with corn firm, while soybeans drift slightly from the 200-day MA. The focus this weekend for soybeans, besides the ongoing Middle East tensions and concerns that a broader area of the Middle East could be…
