The grain trade softens ahead of another harvest weekend. This morning’s grain trade has wheat softer, with row crops mixed after yesterday’s round of selling from new highs for September was achieved. The N Brazil and W Russian weather issues and managed money short covering into the month and quarter have helped lift grain price…
Hogs and Pigs 9/26/24 All Hogs and Pigs: 100 vs 100.2 estimates Kept For Breeding: 98 vs 97.9 estimates Kept For Marketing: 101 vs 100.4 estimates Report came out mostly neutral to pre-report estimates.
Soybeans advanced to the 100-day MA overnight. This morning, A firmer grain trade for soybeans and wheat as the dryness in N Brazil and W Russia for the next 10-14 days is becoming a concern as those droughts deepen. Brazilian farmers concede soybeans into November, but like last year, tightens the planting window of winter…
Fast-advancing Midwest harvest softens grain rally. This morning’s grain trade is softer, a follow-through from yesterday’s weak close. The Midwest harvest is active now, as it will be for the next two weeks, and the NASS Final Small Grains Report and September Stocks in all positions report is due Monday at 11:00 a.m. The Midwest…
China creates stimulus policies, and Brazilian weather is a concern. Hedge update: We filled out our November bean sales per Weekend Hedger and daily newsletter at 10.45 overnight. We will have further recommendations if the strength continues. Grain futures pushed higher overnight even though the early night session tried to pull a minor Turn-around Tuesday…
Grain prices pushed higher overnight Grains are higher to sharply higher this morning as soybeans and wheat pushed double-digit gains. Chart action on soybeans holding the 20-day MA for several weeks after closing above it has triggered further short covering and buying interest since China returned from their Autumn Harvest. French milling wheat is €3.00…
Cattle On Feed On Feed: 101% vs 100.9% estimatePlaced: 99% vs 99.0% estimateMarketed: 96% vs 96.6% estimate Report is mostly neutral to pre-report estimates.
Row crops decline ahead of the weekend. This morning, the grain trade has wheat short covering because of who knows what develops with Russia/Ukraine; meanwhile, corn continues to struggle from yesterday, and today on the news that railroads are struggling to facilitate the extra large export book the US has with Mexico is somewhat disappointing….
