Grains Due For A Stall Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1023268246/e3c38cf686?share=copy Corn: Prices neared resistance at 422-423 with steady upward momentum.Exceeded average export expectations; demand from Japan and other buyers provided support.Further price gains could face resistance at the 144-day and 200-day moving averages. Soybeans: November soybeans hit the 100-day moving average…
US weekly export sales entice short covering in grains and improve basis around the US. Thursday’s weekly export sales ending October 17th announced corn at 141.8 MB for old crop and 22.9 MB for new crop year. Soybeans at 79.1 MB and wheat at 19.6 MB. Mexico was the featured buyer of corn last week…
Risk-off affects markets overnight, with the US dollar being higher. This morning’s grain trade is softer, led by the wheat market, as risk-off has hit the marketplace. The US dollar pushed above 104.00 overnight, forcing a correction in the metals, energies, and indexes. It’s estimated that index funds purchase 27,000 contracts of corn and 15,000…
Is The Trump Trade a Fools Trade? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1022262463/9a5fc81a07?share=copy Corn: Exports: 360,000 metric tons of corn sold to Mexico, driving a rally.Bull spreads performed well in the market.Corn is 65% harvested, with dry weather supporting progress. Soybeans: Soybean exports could rise if China ramps up purchases later this…
A mixed trade for grains to start Tuesday. This morning’s grain trade is softer, led by wheat, as row crops had traded both sides unchanged throughout the night. With a lack of fresh news after the Chinese interest rate reduction on Sunday night, which takes time to take effect, the trade is now floundering. Support,…
China lowered its prime lending rate by .25% overnight. Grains started softer in the Sunday night session but firmed overnight as the Peoples Bank of China lowered its prime lending rate by .25% to 3.1% for a one-year loan and 3.6% for a five-year loan. This overnight boosted gold, silver, and crude oil as the…
China woes soften grain overnight. The overnight grain trade was firm primarily for corn and soybeans as it saw follow-through buying from the big Thursday reversal higher into the close. Gold, silver, and gold are higher this morning, with gold making new all-time highs. Last night, China’s economic report showed the slowest growth since early…
Lunatic Reversals Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1020721475/4fb2f68439?share=copy Grain Markets: Grain prices dropped on deflated demand outlook due to lack of action from Chinese financial authorities.Strong buying emerged as corn dipped below $4, driving a price reversal.Soybeans showed bull spreading, suggesting underlying strength rather than an overly bearish market. Livestock Markets: Cattle…
China woes soften grain overnight. Grain futures started firm and traded moderately higher in the evening session until another Chinese overnight briefing, this time from their Housing Ministry, failed to meet investors’ hopes and sent property stocks plummeting. This triggered the selling that pushed soybeans lower in the continuation of Wednesday’s action when the EU…
Soybeans challenge 10.00 in overnight strength. This morning’s grain trade is mixed with soybeans leading a recovery in price after yesterday’s reversal from a bullish NOPA crush report. At the same time, wheat continues to soften in trying to understand Russia’s export tax selling floor. The Nov/Jan bean spread firmed 8 cents over the last…
