Cattle On Feed
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.
Morning Update
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…
Morning Update
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…
Morning Update
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…
Morning Update
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…
Morning Update
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 Report
USDA Crop Report 5/12/23 Wheat bullish to pre-report guesses, while corn and soybeans are bearish.
Morning Update
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…
Morning Update
WASDE crop report Friday. Grains are lower across the board this morning, led by soybeans that appear to be ready for another leg down with bearish news anticipated this Friday from the WASDE crop report. Also export sales this morning were minimal as anticipated. Argentina lowered its soybean production to 21.5 MMTs and lowered corn…
Morning Update
Grains lower ahead of the WASDE crop report Friday. Grain futures are lower this morning on follow-through technical selling from yesterday’s poor close and the unwillingness of buyers to maintain recent new long positions ahead of this Friday’s potentially negative WASDE crop report. Also, talks are being pushed again by the UN/Ukraine/Turkey to continue working…