Author: Ivan

Spec Trade: Buy a May Mini-wheat at 1135 with no stop.

CONAB numbers out and Ukraine/Russia talks fail cease fire. Overnight, corn and soybean futures found end-user buying and were firmer awaiting this morning’s CONAB production numbers from Brazil. In contrast, wheat futures tumbled again initially, with the May Chicago wheat dropping nearly $1.00 before recovering in the early morning hours. The wheat recovery came on…

USDA crop report 3/9/22 All data considered neutral across the board.

March USDA Supply/Demand report out at 11:00 AM CT today. Today is the USDA supply/demand crop report at 11:00 a.m. CT with the grain market participants more focused on Brazil’s CONAB production number due out Thursday morning at 6:00 a.m. Today the street wants to see if the USDA will pick up the pace of…

May Chicago wheat finally traded overnight. May Chicago wheat futures had traded up the daily limit six days in a row, and on the seventh day, it rested, releasing the trapped shorts and creating a massive record volatile trading range of $1.61. It opened on the high tic and plummeted its range for the day…

Crude oil trades to $130.00 overnight and retreats. Oil futures exploded overnight to as high as $130.50/a barrel for spot WTI, while Brent crude traded as high as $139 before retreating on news that the US and other countries like Japan and Europe are contemplating banning imports of Russian energy. This is a nirvana scenario…

Wheat trades limit for the 7th session in a row Wheat futures moved limit higher again overnight, creating a limit status move for the seventh session in a row. Rumors of Russian troops capturing Europe’s largest nuclear energy facility in Zaporizhzhia, Ukraine, and it was incorrectly reported on fire adding to tensions. The training center…

Spec trade: Sell 1 July Mini-Chicago wheat at 10.80 OB with no stop Our recommendations are always based on a $20,000 balance. We are selling one July mini-Chicago wheat with the intent if it goes up another dollar, we will sell another contract. This price rally is not sustainable. Options are way too expensive to…

Hedge recommendations were filled overnight. Recommendations in yesterday’s newsletter to finish up old crop wheat sales and advance new crop sales further were filled. Logistically most were not given the opportunity to work these orders at the elevator. Hedge recommendation: Make the remaining 10% sale of HRW 2021 wheat at 11.25.Make the remaining 20% sale…

Wheat trades limit for the 6th session in a row. Grain futures pressed sharply higher again overnight with the winter wheat contracts again touching limit up. In what has become a typical format, profit-taking hit grain futures overnight when the French Milling Wheat exchange opened at 3:40 5 AM and profit-taking ensued with markets stumbling…