Export sales are reported dismal. Grain futures opened lower last night on the extreme weakness of the stock market after Federal Reserve Chairman Powell gave its communiqué at 1:30 p.m. CT and said that they would fight inflation like a war. This bolted the US dollar to new multi-decade highs of over 111.50, which had…
Putin insights further price gains overnight. Wheat prices accelerated overnight, with Chicago wheat going through $9.00, and Kansas City hitting a high of 982 before drifting. Corn values challenged last week’s high but did not best it and found itself this morning with soybeans lower at the end of the night session. Comments at 1…
Wheat rebounds from Monday’s heavy losses. Grain markets overnight found a firm trade in wheat, which was heavily sold yesterday, while corn continued to advance, and soybeans slipped from overnight strength. Yesterday’s crop ratings which are now more of a maturity rating, put soybeans at 55% GD/EX versus 58% a year ago, while corn was…
Risk-off to start the week across all investment sectors. Grain futures opened softer Sunday night and found a mild evening rally, with most of the strength going to soybeans. The overall lift underway in the evening with commodities and stock indexes ended near midnight when universally, a risk-off mentality evolved over the complexes and allowed…
Corn and wheat are trading lower on the week this morning. Grain prices are lower this morning, with strength in the US dollar heading back to 110.00 with next week’s higher interest rates being implemented and the onset of harvest pressure. Corn and wheat are lower than last Friday’s close, while soybeans are still higher….
The rail strike appears to be averted. Grain futures are mixed coming into the Thursday morning session, with support coming from a tentative deal with labor unions and railroad owners to avert a potential strike Friday morning at midnight. This is a relief to the grain trade, with harvest just getting underway. The NOPA will…