Wheat futures start new month higher on weather concerns. This morning, grain futures have lower soybeans, consistent with yesterday’s selling from the very stocks and acreage data. At the same time, new crop corn remains firm, and wheat futures are taking over new friendly leadership with concern is now on April 1 about the dry…
Prospective Planting Report 3/31/22 Report was friendly for corn and wheat but bearish for soybeans on stocks and acreage data.
Crude Oil declines on potential increased SPR releases. Grain futures started steady overnight, but corn and soybeans went under selling pressure from a sharp drop in crude oil. The Biden administration announced it was contemplating the sale of 1 Mil barrels/day from the US strategic reserve to fight inflation. This proposal would allow for 180…
The Hogs and Pigs Report All Hogs and Pigs as of March 1st: 100% vs 100.2 estimates Kept For Breeding: 100% vs 100.5 estimates Kept For Marketing: 100% vs 100.2 estimates The report was as neutral as you could get.
Commodities turn higher on Zelenskiy comments. After a mixed to firm overnight grain session, and a complete reversal of yesterday, at 6:30 a.m. Chicago time, grain futures bolted higher led by wheat on comments from Ukrainian Pres. Zelenskiy that he believed Russia was sending new forces into Ukraine during a speech to the Norwegian parliament….
Commodities are sharply lower as truce talks intensify. Grain futures are sharply lower this morning, as around 6:30 a.m. Chicago time, news filtered in that Russia signaled intent to cut military operations around Kyiv and Chernihiv, and the Russian chief negotiator said Moscow would take military de-escalation steps. Peace talks continue into the evening in…
Cattle On Feed 3/25/22 On Feed: 101% vs 100.7% estimatePlaced: 99% vs 98.6% estimateMarketed: 97% vs 97.1% estimate Report came in neutral to pre-report estimates and is neutral for Monday’s resumption trade.
Wheat recovers from overnight follow-through liquidation. Grain futures worked through a two-sided evening session, with the morning hours finding renewed buying in wheat as French milling wheat turned positive during its session in the early morning hours. However, further liquidation was seen overnight, on concerns that wheat and corn are not witnessing a pickup in…
Grain futures stall overnight after mid-week higher press. After a higher start Wednesday evening, by 8 PM, grain futures turned abruptly lower as reports of grain leakage continues and exporters/importers are finding workarounds to the sanctions. Also, several non-sanction Russian banks issued letters of credit for new transactions. As a result, world grain analysts are…