Author: Ivan

Spec Trade: Buy 2 May Mini-Chicago Wheat at the MKT, 547.2 last with a 525 stop.

Relief rally occurs overnight in grains. The grain trade is higher this morning, as it has been on numerous mornings since its nine-day freefall and is now bouncing from extreme oversold conditions. Corn, wheat and soybeans all are roughly $0.15 off their freefall lows traded Tuesday midmorning. The minor bounce that is currently being experienced…

What the Trade War Is Doing To Grains The indiscriminate selling in the grain trade continues out of pure panic. The trade war with well advertised weeks ago, yet was ignored. Corn and wheat have production concerns growing around the world, even with 1/3 now of the Brazilian corn crop at risk to hot dry…

Tariffs are applied, and anticipated retaliation is occurring. This morning’s grain trade is sharply lower due to the application of tariffs against Mexico, Canada, and China, which was enacted this morning. This is generating new grain selling, with corn, soybean, and wheat futures all lower amid tariff retaliation. China retaliated in a measured fashion with…

After a firm night start, grains are mixed this morning. This morning’s grain trade shows wheat with penny gains, while row crops are lower by a few pennies. Trade awaits an announcement on the tariffs against Canada and Mexico by Tuesday midnight. Mexico is moving quickly on details that Commerce Sec. Howard let next that…

We shall see, but the February end of the month blowout could have pushed May corn and July corn to their 200-day MAs that could mark the bottom side of wave 4.

USDA economic relief payments are expected to be send out on March 17th-21st. FSA will be distributing the checks to the producers. PP acres will receive 50% of the full payment amount. Corn: $43.80 /acre Soybeans: $30.61 /acre Wheat: $31.80 /acre Cotton: $84.70 /acre Rice: $71.37 /acre

First notice day and the last trading day of the month bring a morning bounce in price. Markets are trading higher this morning, with wheat leading the way to start the day. Deliveries were light to non-existent but mainly applied to soybean oil and meal. With the calendar turning to March next week and the…