The grain trade softens as harvest pressure develops. The overnight grain trade saw a steady-higher start but then immediately was overwhelmed with hedge-related selling offering pressure in the overnight trade. This week is big, with the US, Brazil, and Japanese Central Banks all making rate decisions that will impact the financial markets. The Federal Reserve…
Fund short covering and end-user buying overcome post-WASDE report trade. This morning’s grain trade is higher to sharply higher following yesterday’s perceived bearish crop yields. Yet, it’s the expectation that the disappointing corn ear and soybean pod counts will see a reduction in yield potential due to the dry finish that the bulk of the…
WASDE Crop Report 9/12/24 Soybeans data was neutral with corn data slightly negative.
September WASDE crop production report out at 11:00 This morning’s grain trade is higher across the board, as word of a ship the Black Sea was hit by a Russian missile strike, lifting wheat and corn. Soybeans firmed as CONAB stayed with their soybean estimate near 147.4 MMTs in the corn crop at 115.7 MMTs,…
Soybeans firm on world veg oil strength. Grains are firmer this morning, with wheat adding to its gains as further strength develops on French milling wheat. Russia continues to have weather concerns, with an extreme drought in the Southwest region and farmers delaying plantings until the prospect of rain arrives. Strengthening vegetable oils is helping…
Crop ratings influence overnight trade. A mixed grain trade this morning with soybeans weaker on crop ratings that came in steady when a decline of 1-2% was anticipated. Wheat futures are firmer as harvest pressure is now in the rearview mirror. 85% of the spring wheat crop is harvested and 6% of the new 2025…
Soybeans firm on world veg oil strength. This morning’s grain trade is mixed. Wheat and corn are softer, while soybeans mount a recovery from last week’s selloff. European and Canadian rapeseed/canola markets are recovering. It appears that Canola put in a double bottom on Friday in response to the Chinese retaliation for EV import tariffs….
The grain trade ended the overnight firm. After a softer overnight session, the grain trade ended firm at the close of the night session heading into the weekend, capping another week of gains. The grains firmed up as the US dollar tumbled this morning after the September jobs report came in softer than estimates. A…
The grain trade finds the first correction of the week. After a two-day surge following the Labor Day holiday, grains went into a corrective mode. For now, the setback is shallow, but yield guesses are coming out for next week, Thursday’s USDA September Crop Report, which maintains a strong yield bias. Brokerage firm StoneX produced…
This morning’s grain trade is mixed. This morning’s grain trade lacks the momentum it carried yesterday. The competitiveness of corn and wheat has now shifted with the current rally. Russian 12.5% fob wheat offers for October are bid at $216/MT, and offers are at $217/MT. Little changed when US and French milling wheat futures were…
