Futures lean soft to start trading day of the week. Concern about the central bank raising the interest rate by 25 bips in 11 days in rising. Commodity prices have been somewhat of an indicator of this happening with the bearish trade recently along with the sluggish stock market. This is looking to be the…
Spec trade: Buy 2 (July) micro-crude oil at the MKT, 76.90 last and 2 more at 75.75 GTC with a 69.50 stop.
Rains on the Plains are on the way. Wheat futures continued their collapse overnight, dragging row crops with it, as rains that were pushed south and east in yesterday’s forecast have now been brought back in the western portions of Kansas. According to the EU and Canadian weather forecast models, the best rain since the…
Grains lower across the board this morning. The wheat market led the overnight grain trade weakness as headlines hit that Russia has allowed inspections of Ukraine grain cargoes to resume which provided the pressure. Russia is blaming Ukraine for the difficulties as Ukraine officials seek bribes from shipowners to register new vessels and carry out…
Grains are mixed for the start of Turn-around Tuesday. Grain futures pushed higher overnight on the Ukrainian Grain Corridor closure concerns along with threats of the annual Argentine port strike occurring later than normal, lifting soybeans to a new spring high, but results are muted as there is not much of a crop to export….
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…
