Turn-around Tuesday try to get started in the night session. Grain futures had a rough-and-tumble night, starting higher to break substantially in the night session and then recovering to new highs in corn and wheat for the week. The selloff was due to the significant progress throughout the Midwest, with corn planting at 81%, soybeans…
Row crop prices start the week on the rebound. Grain futures this morning have corn and soybeans on the rebound as the EPA has dropped eRINS from the Biden administration proposal, which is due to be announced by June 14. The eRINS, which are credits for electric vehicles, would’ve produced a surplus of RINS, diminishing…
Cattle On Feed 5/19/23 On Feed: 97% vs 96.5% estimatePlaced: 96% vs 96.3% estimateMarketed: 90% vs 90.3% estimate The report is slightly negative based on today’s close.
Grain prices lift on short covering overnight. Grain futures are higher across the board this morning after the heavy selling that’s been underway since Tuesday gave way in the night, and short covering kicked in for the Friday session. New crop soybeans leave the recovery with $0.15 gains popping it back above $12.00, and Dec…
Grain futures tumbled further as technical support gives way. Grain futures are sharply lower again this morning, led by none other than the KC and Minneapolis wheat markets with corn nearly $0.10 lower on the session as well. French milling wheat tumbled to new calendar year lows and is now at the lowest prices since…
Bloomberg is reporting the Black Sea Corridor will remain open. Grain futures are lower this morning, with December corn under 5.00 while November soybeans fall below 12.00, as row crop spreads collapse with optimal weather for an early planted crop in the Midwest. The Northern Plains plays catch up and will likely go beyond preventive…
Turnaround-Tuesday in play after yesterday’s strength. Grain prices softened overnight, with soybeans heading back to the monthly lows, as the short covering buying interest on Monday, with some market participants thinking the WASDE crop reports reflected optimistic weather and things can go bad, still needs to find threatening weather to have further buying interest. Open…
WASDE crop reports need ideal weather to verify. Grain futures firmed overnight after a soft start, with Kansas City wheat taking the lead on the recovery rally. Soybeans found buying interest after midnight as the Brazilian basis, which started to firm last week, firmed further and has now bounced 30-$0.40 off its lows. It is…
USDA Crop Report 5/12/23 Wheat bullish to pre-report guesses, while corn and soybeans are bearish.
Grains leaning firmer on the morning of the crop report. The May crop production and WASDE report will be out at 11 AM CDT time today which will show this years first balance sheets for 2023/2024. Expectations have been bearish according to the trade. End users looking to buy at lower prices and warming temperatures…