Overnight erratic grain trade ended with a firm outlook. After a two-sided overnight trade, the morning grain trade is firm. Firming Brazilian bean and meal prices are setting soybeans up to challenge last week’s highs. A three-day weekend is ahead, and the weather is full of uncertainty. Black sea weather forecasts are uncertain as the…
Wheat pushes new calendar year highs overnight. Grain prices are firmer this morning, with wheat trading up into double-digit gains overnight on the growing concerns that Russia’s production will be slashed below 80 MMTs if rain does not return to the Black Sea region of East Ukraine, Western Russia in the next 15 days. The…
Turnaround Tuesday kicked at the start of the overnight. Grain futures rolled right into Turnaround Tuesday at the start of the night session after wheat and soybeans challenged last week’s highs but failed to find the momentum to roll through the area. The planting progress through Sunday was slightly better than expected on corn seedings…
Grain prices moved higher overnight led by wheat. Grain prices opened higher last night and pushed higher on world weather concerns and political tensions. The Black Sea drought continues to become initial while historical flooding across Río Grande do Sul in southern Brazil and excessive rainfall in the Central US have traders’ attention. Gold surged…
Grain prices traded higher overnight, led by spot soybeans. The overnight grain trade moved higher as the market added weather premium to prices heading into the weekend. World weather is directing values, with traders trying to figure out what normal weather looks like so far during the spring of 2024. Black Sea forecast offers a…
Spec trade: Buy a December corn at the market, 482.4 with a 474.4 stop.
Spec trade: Buy a December corn at the market, 482.4 with a 474.4 stop.
Grain prices traded higher overnight, led by wheat. The yo-yo spin in the grain trade continues as farmer selling hits spike rallies, sending grain trade action lower for the day, and the next morning, new strength evolves. Wheat futures recover again today after yesterday’s sharp losses, as the prospects of a Russian wheat crop of…
Grain prices traded higher overnight, led by wheat. Grain prices reverted higher overnight, led by wheat, as Turnaround-Tuesday found big farmer selling that rewarded Monday’s big gains. This is to be expected that a stairstep effect to the upside is occurring for the second quarter price lift we have been anticipating, as large old stock…
Concerns growing for delayed corn planting, CONAB raises yields This morning, A mixed grain trade with corn firmer while wheat retreated and soybeans softened as CONAB raised their bean crop by 1.16 MMTs to 147.68 MMTs (USDA 154 MMTs as of last Friday). Corn production was raised from 111.64 MMTs versus 110.96 MMTs last month….
