Grain markets are softening as calm returns to the energy markets. Grain futures are softening across the board this morning as the crude oil market, though elevated, is showing a sense of calm. A conversation late yesterday from the administration is that they are considering insuring and escorting vehicles through the Straits of Hormuz, which…
Midnight Rally, Morning Reality Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1170068676 Corn: Overnight strength followed crude oil higher before early session selling pressure hit the market. Farmer selling remains active on rallies with ample bushels still unsold. First new crop December sale executed at 473 representing a 15 percent position. That price sits…
Turnaround Tuesday is right on time. Grain futures are higher this morning, as we said in yesterday afternoon’s newsletter, a turnaround on Tuesday was likely. Despite yesterday’s selling, Friday’s lows were never exceeded, so yesterday became a higher high with a higher low on the daily bar charts. Taking a chance in the Strait of…
Geopolitics drive overnight volatility. A sharply higher start welcomed the first trading day of the month for grain futures, as the outside markets of energy and metals provided supporting opening, more specifically, soybean oil. Immediately after the opening, hedge selling hit corn, wheat, and soybeans. By the end of the morning session, wheat showed mixed…
Weekly and monthly chart gains in the grain complex today look potentially impressive. That is, if the day selling vigilantes lose their influence today. Grain futures found follow-through buying last night as we roll into the end of the month. Wheat futures led the overnight strength, recapturing the bulk of their losses on the week…
Cattle Stumble Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1168625557 Corn Quietly improving structure as soybeans lead No technical damage yet and watching for follow through strength Weather not currently a bearish driver Soybeans 27 cent range and near unchanged close after China headline break Trend intact and consolidation ongoing Target zone 1196 to…
Again, new annual highs overnight for soybeans and soybean oil. Soybean futures are again higher today, along with corn in tow. Soybean oil is again reaching new annual highs, as the Trump administration has released a plan that will require big oil refineries to make up for at least half of the biofuel blending volume…
Just a note that corn is waking up ahead of first notice day. A close above 441 in May corn today would reopen the upside movement.
Another new price high for soybeans overnight. Overnight, soybeans were firmer, gaining a dime at one point in the early session on hopes Pres. Trump would make friendly comments. Yesterday, Ag markets found support from chatter that China may be in the market for May soybean shipments out of the Pacific Northwest, along with fresh…
Precursor To The Lows Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1167874545 Corn February farmer selling tied to taxes, cash rent, and bills has pressured prices. Government payments hitting accounts in March could slow selling pressure. Export inspections were strong and China demand remains a potential catalyst. Market watching for a possible March rally…
