World financial markets have created a universal risk-off day. This morning’s grain trade is lower after a firmer start overnight. The weakness in the Asian markets has caused Dow futures to go down over 1100 points this morning, causing large risk aversion due to financial market volatility. The Japanese carry trade is in complete unwind,…
Soybeans are firmer on further hints of Chinese buying interest. This morning, we have a mixed to higher grain trade, with soybeans leading the strength. Rumors abound that China is again in the marketplace for beans ahead of the WASDE August 12 crop report. Yesterday, StoneX released the first, with its corn yield at 182.3…
Grains mixed to start the new month. This morning’s grain trade has wheat futures following through with yesterday’s reversal strength while corn and soybeans soften. Too much rain in northern China and in Russian spring wheat areas is prompting support for wheat as those areas endure another two weeks of abnormal rain, with accumulations of…
Japan raises interest rates for the first time in almost 30 years. Grain futures are mixed, with overnight strength fading after lite deliveries were posted. Still, more importantly, the US dollar softened as Japan raised interest rates for the first time in almost 30 years. The Bank of Japan raised its lending rate by .25%,…
Turnaround-Tuesday removes Monday’s reversal higher. The grain trade overnight attacked the reversal that corn, soybeans, and wheat produced and stayed shortsighted on the focus of US corn and soybean yield potential. What is not being considered with the black box trading is that China could become a large buyer of US soybeans. China has only…
The grain trade tumbles in the Sunday night session. The grain trade is lower to sharply lower this morning after wheat opened higher last night on rising Russian wheat prices but was drug lower with the heavy selling that overwhelmed the start of the session for corn and soybeans. News that the US will establish…
The grain trade is on retreat into the weekend. Wheat futures are mixed while row crops retreat, heading into a weather weekend after strong weekly gains. Forecast models have low confidence in the 11-15 day period, as the GFS model wants to produce a tropical storm system for the and E US next week in…
The CBOT turns mixed overnight. A mixed grain trade this morning, with row crops trading on either side of unchanged while wheat futures drifted. The US Spring Wheat Quality Tour reported high yield potential in NW and NC North Dakota, where yield averaged 53.7 BPA, compared to 45.7 BPA last year. The wheat crop looked…
Grain trades relaxes while heat and dryness is still on the way. Grains are softer this morning, with soybeans leading the weakness after gaining $0.50 in two sessions. Central US weather forecasts are working to decipher the upcoming heat and dryness duration across the Plains and W Midwest. Remember that recent US weather finishes have…
Row crops lead overnight strength, wheat softens. A light turnaround Tuesday tried to develop in the overnight trade, as wheat futures sagged while French milling wheat corrected recent sharp strength. Low test weights that are not reaching milling standards have likely helped forge a bottom in the French milling wheat contract and likely US wheat…
