Argentine weather promotes overnight grain rally. Grain futures are higher this morning as the continual disappointment in forecasts that Argentina would receive bountiful rains in the country’s southern half continues to come up short. Rains have occurred in some areas of southern Brazil and Argentina in the past five days, but coverage has been just…
Something To Worry About In The Cattle Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1051300451/f0a76ab2b5?share=copy Feeder Cattle: The rally may extend beyond $286 if historical wave extensions repeat.A wave four pullback could hold trendline support or extend further.Previous breaks from February highs ranged from 4% to 9.5%.February 2022 saw a $28 drop after an…
Welcome to Turnaround-Tuesday with a firm morning grain trade. The grain trade is jumping in Turnaround-Tuesday style after a Friday-Monday break in price. Recovery is in low volume as heat is still manifested in southern Argentina, which awaits meaningful rains, which are always on the horizon in the forecast. Planting progress for Matto Grosso’s second…
Grain trade starts the week sharply lower. Grain futures opened lower Sunday night on rain showers that were dieting southern Brazil and Argentine crop areas and a threat that Pres. Trump was going to impose tariffs on Columbia as that country and turned away to US plains that carried undocumented migrants. The trade improved moderately…
Cattle On Feed On Feed: 99% vs 99.6% estimate Placed: 97% vs 100% estimate Marketed: 101% vs 101.3% estimate Report Friendly to pre-report estimates a should offer a higher start on Monday’s opening.
Argentina lowers export taxes. The grain trade opened lower Thursday night on the news that Argentina was dropping its grain and oilseed export taxes starting Monday and carrying through June. The bulk of the weakness in the night trading range was developed in the first 15 minutes of the session. Argentina announced that they will…
Argentina to cut export taxes. Negative to grain prices.
Grains & Cattle Keep Marching Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1049805357/1b0b6024d3?share=copy Grain Trade Update:Soybean and corn prices rose sharply, reaching new recovery highs before selling off slightly at close.Argentine rainfall deficits, particularly in Buenos Aires, are driving concerns over crop yields.Northern Brazil faces issues with dryness and sprouting beans, slowing export progress….
Export sales are delayed until Friday morning. After a weak overnight session, this morning’s grain trade has found firming in row crops. Weakness developed as confirmation from yesterday about issues we discussed in Tuesday’s comments regarding possible restrictions on Brazilian bean importers were taking place. Five separate exporting entities, including ADM Brazil and Cargill Brazil,…
Wheat shows small gains again this morning after yesterday’s strong gains. After an initial soft overnight grain trade, President Trump stated during a press interview that he may start out with a 10% tariff on China by February 1 (not really a surprise and less than ever anticipated). However, as early morning hours came, the…
