Wheat futures start the week correcting Friday’s big surge. Grain futures initially opened higher Sunday night after Poland and Hungary announced on Saturday their placing bans on Ukrainian grain being transported through their countries due to the stockpiling that is causing low prices. But after the initial opening, wheat futures took a hit, as algorithm…
A mixed start greets the last trading day of the week Grain prices this morning are mixed as a choppy week comes to an end. Tight old crop stocks are fighting with summer like warmth and timely planting progress for corn, sorghum, and soybeans except in the far north Midwest and Plains. Since the start…
Russia again makes comments against Grain Corridor. Wheat and corn prices firmed overnight as Russia again continued to make comments about the Black Sea Grain Corridor and how it will hold to the May 17 deadline of the current extension if the EU/US does not make changes to the SWIFT banking access and insurance on…
USDA Report 4/11/23 Ending stocks numbers are slightly negative to pre report estimates.
WASDE crop report out today at 11:00 a.m. Grain prices moved higher overnight as the NASS reported that the US winter wheat crop was rated 27% GD/EX, which tied the lowest record for crop ratings in early April going back to 1996. Meanwhile, the SRW wheat condition report improved slightly and was 2% above the…
Grains are Mixed for Monday’s start. Grain prices are mixed this morning after wheat and soybeans had seen gains overnight. Kansas wheat was up early in the session as much as $0.17, as a lack of meaningful rain for the southern and central plains remains void for another 10 days. However, overnight strength was not…
Soybeans tumble back under $15.00. Thursday morning’s grain trade is mixed with row crops lower ahead of the long Easter weekend which has grains closed for Good Friday and will reopen Easter Sunday evening. Weather forecasts call for a quick warming trend across the central US which starts this weekend and extends in the mid-April…
Grain futures extend losses from Turnaround-Tuesday. Grain futures are lower again today after corn, beans, and wheat all struck a first trading day of the month high, culminating in a seven-day recovery lift. Warm weather is on the way, with planting getting underway next week in the Southern and Western Midwest. Dryness is forecasted to…
The first day of the month sets a high watermark. Grain futures faded from the overnight strength, with corn and soybeans turning lower as the first trading day of the month pushed a high watermark for the post-USDA crop report activity. Wheat remained positive after double-digit gains overnight as the crop condition reports show the…
OPEC+ cuts oil production on May 1. Grain prices opened higher and advanced on positive technical considerations from Friday’s closes and the addition of OPEC announcing it was slashing production by 1.6 Mil barrels/day starting May 1 and running through 2023. Bullish sentiment continues due to the cut in stocks that were more than expected…