Thursday’s grain trade starting out higher. This morning’s grain trade is finding a firmer start after a week’s worth of selling pressure since May 28. A pattern shift to a warmer/drier Midwest forecast in the hands of the coming summer weather is creating a pause in the aggressive selling and allowing for pondering that high…
Mid-week price stability arrives. Grain futures are mixed this morning, with pricing stability arriving midweek. When the grain trade is positive, you find strength on Fridays and Mondays with weakness during the middle of the week. When the grain trade is weak, you find a weakness on Fridays and Mondays, with recovery bounces midweek. The…
Wheat trade softens as harvest is fully underway. Grain prices are mixed this morning, with wheat further eroding on the start of wheat harvest in the South and continuing eroding energy prices. Crude oil is down $1.18 this morning at 73.05, with a low of 72.48, which is an albatross to the biofuel factor of…
Black Sea weather dominates trade. Grain futures are sharply mixed this morning. Wheat is sharply higher due to the intensifying Black Sea drought, and corn finds support in the corn/wheat spread. Meanwhile, soybeans are soft due to the improving production landscape domestically. This week will feature the stressful Black Sea values pouring world wheat futures…
The grain trade turns higher to end the week. As we head for the weekend, this morning’s grain trade is classic, friendly trading mode style. Peak early in the week, decline during the week, and then lift on Friday. This morning’s rally comes from Russian wheat showers, which were disappointing overnight, with extreme heat next…
Mixed grain trade this morning with row crops finding chart-based support. This morning’s grain trade is mixed with wheat softer on the prospect of some scattered showers across SW Russia amid their approaching harvest in weeks. After lifting $50/MT a ton and digesting a sizable drop in Russian crop production, the market is unable to…
Expected planting progress has the grain trade lower this morning. This morning’s grain trade is lower across the board as seeding progress came in as expected. US corn seedings at 83%, soybeans at 68%, and spring wheat at 88% through Sunday, which is at the historical averages. The 2024 corn and soybean crops are getting…
Grain futures faded overnight from sharply higher trade. Grain futures opened higher to sharply higher overnight, with wheat futures pushing new calendar-year highs on Monday’s strong French milling wheat rally. Russian wheat crop estimates continue to decline, and rain in the coming 10 days is minimal, with only a few light showers possible late this…
Cattle On Feed On Feed: 99% vs 99.2% estimate Placed: 94% vs 93.9% estimate Marketed: 110% vs 109.8% estimate Cattle on Feed numbers were neutral compared to expectations, market reaction on Monday morning minimal.
Thin volume developing ahead of the Memorial Day weekend. The morning grain trade is mostly firm as overnight Kansas City wheat pressed the new calendar year high again before retreating into the close of the overnight session. The International Grain Counsel lowered their total world grain carryout estimate for 2023-20 24 x 3 MMTs to…
