Spread action flips overnight with soybeans firm and grain softer. This morning’s grain trade reversed last week’s action via spreading. Soybeans are bought, while wheat and corn are sold. We are heading for the first notice day for the December grain contracts, which is Friday, and liquidation is noted on the December corn and wheat….
Will Russia/Ukraine have issues again over the weekend? This morning’s grain trade has turned firmer after a soft trade, with the US dollar pushing to a new 13-month high of 108.07 before retreating half its gains. Despite the dollar’s strength, gold pushed over 2700, while bitcoin challenged 99,500. We could see a short-covering day today,…
Corn and Wheat Are Set For Gains Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1032095419/d5134a4cb0?share=copy WheatCorrected after resistance at moving averages but remains above prior day’s highs.Pullback could extend to 6766 or 565, aligning with Fibonacci retracement.Support expected through weekend amid geopolitical tensions and Friday’s options expiration. CornNew high on December contract reversed lower,…
Russia launches an ICBM with conventional weapons. This morning’s grain trade had seen wheat post the strength overnight as Russia used an Intercontinental missile to make a strike on Ukraine. Traders are working to determine whether the escalation between Russia and Ukraine is severe enough to disrupt grain production or trade out of the region,…
Soybean oil leads overnight weakness. The grain trade was softer overnight, led by soybeans. On its pullback, soybean oil pressed new November lows as palm oil prices also retreated. China appears to be slowing its soybean purchasing pace, with its early January coverage nearly filled. Cheaper soybean FOB offers from Brazil are garnering demand for…
Will Russia and Ukraine Get Worse Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1031290416/1724536917?share=copy CornPrice Resistance: December corn faces resistance at $4.30, with likely buying interest around $4.25-4.26.Technical Support: March corn encounters 64-day moving average resistance, with support a penny or two below current close.Seasonal Patterns: Exports typically support corn prices through April; U.S….
Again wheat prices lead overnight grain strength. Light grain strength overnight continued for wheat as Black Sea war tensions expanded. Overnight news surfaced indicating that Ukraine launched its first Western made long-range missiles into Russia that hit an ammunition dump. News that the Biden administration has approved the use of Western-made long-range weapons on Russian…
A mixed trade to start this week’s activity. This morning’s grain trade is mixed with soybeans lower, led by a retreat in Malaysian Palm oil pricing, with wheat firmer as tensions rise in the Black Sea region with Russia launching attacks into Ukraine with its largest drone and missile attacks on their electrical grid. 120…
Soybean oil leads overnight recovery trade. This morning’s grain trade offers a bounce, led by soybean oil, as world oil values recover from a week’s worth of selling. Obviously, the sentiment remains negative towards grains as traders point to Trump’s threat of blanket tariffs and excellent growing conditions in South America as reasons to be…
US Dollar Dominates Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1029792364/dfe87124b9?share=copy US Dollar Impact Surge in Value: Reached 106.99, near last year’s high, impacting commodity prices negatively.Historical Trend: October often marks market inflection points; potential for current dollar peak.Commodity Impact: Strong dollar challenges gold, soybeans, and other commodities, stalling rallies. SoybeansBearish Momentum: Falling below…
