Wheat futures are trading at a three-week high. Grain futures are firmer this morning, led by double-digit gains in the wheat market. The French Ag Minister reduced their 2024 French wheat crop estimate to 26.3 MMT, down 25% from last year and the smallest French wheat harvest since 1986. Private French wheat crop estimates have…
Wheat firms again on Egyptian export hopes. This morning’s grain trade is mostly firm, with wheat experiencing the best buying interest. Wheat is awaiting the Egyptian wheat tender on Monday for 3.8 MMT of wheat, which provides for October-April delivery. Soybeans and corn are more subdued as they await Monday’s WASDE crop report, anticipating record…
Wheat awaits Egyptian wheat tender while row crops soften. A mixed grain trade this morning with wheat firm, awaiting results of the Egyptian wheat tender. Corn and soybeans are softer on the cooler Central US forecast. The stock market is on the amends again today, allowing for the second day of index funds that do…
Turn-around Tuesday puts grains in retreat. Grain futures are lower this morning, led by soybeans, as stable crop ratings for corn and soybeans had the market refocusing back on record large yield potential. The rally in recent days has been on managed money short covering amid heavy losses in the stock market, forcing some managed…
World financial markets have created a universal risk-off day. This morning’s grain trade is lower after a firmer start overnight. The weakness in the Asian markets has caused Dow futures to go down over 1100 points this morning, causing large risk aversion due to financial market volatility. The Japanese carry trade is in complete unwind,…
Soybeans are firmer on further hints of Chinese buying interest. This morning, we have a mixed to higher grain trade, with soybeans leading the strength. Rumors abound that China is again in the marketplace for beans ahead of the WASDE August 12 crop report. Yesterday, StoneX released the first, with its corn yield at 182.3…
Grains mixed to start the new month. This morning’s grain trade has wheat futures following through with yesterday’s reversal strength while corn and soybeans soften. Too much rain in northern China and in Russian spring wheat areas is prompting support for wheat as those areas endure another two weeks of abnormal rain, with accumulations of…
Japan raises interest rates for the first time in almost 30 years. Grain futures are mixed, with overnight strength fading after lite deliveries were posted. Still, more importantly, the US dollar softened as Japan raised interest rates for the first time in almost 30 years. The Bank of Japan raised its lending rate by .25%,…
Turnaround-Tuesday removes Monday’s reversal higher. The grain trade overnight attacked the reversal that corn, soybeans, and wheat produced and stayed shortsighted on the focus of US corn and soybean yield potential. What is not being considered with the black box trading is that China could become a large buyer of US soybeans. China has only…
The grain trade tumbles in the Sunday night session. The grain trade is lower to sharply lower this morning after wheat opened higher last night on rising Russian wheat prices but was drug lower with the heavy selling that overwhelmed the start of the session for corn and soybeans. News that the US will establish…
