Grain pricing overnight produced a mixed result. Grain prices are coming in mixed this morning, with soybeans challenging the confluence of the 100-day and 200-day moving averages in the 1318-1320 range. Active bookings of soybean meal with Argentina are now out of the market until April, with US sourcing as the primary interest. US corn…
Grain prices universally moved higher overnight. Grain prices moved higher overnight, led by rising energy values and improving interior corn, soybean, and wheat bids at major market areas. Reduced barge freight has worked to trim US fob premiums, with US and Brazilian corn now offered at even money this morning. Argentine corn is no longer…
Soybeans add to gains overnight after friendly NOPA report. Grain prices are mixed this morning as soybeans continue the recovery towards the post-October WASDE crop report high on a friendly NOPA crush yesterday that showed stocks at the lowest levels in nine years for bean oil. Biodiesel production is expected to be up 40% next…
Grains started the week firm but settled for mixed by morning. Grain futures ended their overnight session mixed after a mostly higher performance. Rising US export potential and further short covering in wheat with China purchasing more SRW out of the PNW. It’s becoming apparent now that Australian supply shortages due to drought will force…
Grains continue to strengthen after the WASDE report. Grain futures are higher across the board this morning, follow-through buying after yesterday’s bullishly construed soybean and corn WASDE crop numbers. Crude oil is trading back near the highs of the week as gold and silver surge with Middle East tensions rising. The Israeli military is urging…
USDA Report 10/12/23 Production data was friendly for price on corn and soybeans while the wheat carryout was slightly negative. World soybean carryout was friendly compared to expectations.
WASDE October crop production data out at 11:00 a.m. today. This morning’s grain trade is coming in firm to higher, led by the short covering in soybeans ahead of today’s WASDE report after taking out early week lows and closing near 1250. The trade seems to be set for a non-exciting report, with corn and…
Wheat leads the overnight weakness. Grain prices are softer today after yesterday’s crop progress data. Crop Progress showed corn harvest 34% complete (vs 29% LY), and soybean harvest 43% complete (vs 41% LY). Winter wheat planting is 57% (vs 53% LY). Less important now though is the progress showed corn conditions steady at 53% G/E,…
Grain prices drift on a lack of Monday follow-through buying. Grain prices are lower this morning after disappointing action on Monday’s trade, with corn and soybean not able to catch headwinds from the quick rise in energy prices through the new geopolitical events with Israel/Hamas. Lack of US export demand is being touted ahead of…
