Brazil roadblocks and Putin comments influence night trading. Grain futures were mixed overnight, with wheat and corn moving lower on comments from Pres. Putin that the grain corridor was “suspended, not canceled.” This created confusion which immediately brought about selling despite crop ratings for the winter wheat crop at 28% GD/EX, below the 40% estimate….
Wheat futures lead price gains overnight. Grain futures moved higher overnight as expected but did not go limit bid on wheat, with corn and soybeans reflecting a higher move on the spread pull of wheat on protein values. Unlike February, the world has some experience right now with the war in the Black Sea, and…
Risk-off ends the week in commodities and equities. Grain futures drifted overnight as the US dollar firmed, causing further selling and risk-off in equities, energies, and metals. The September core PCI price index came in stronger than expected, with risk-off trading continuing in equities, metals, and energies. Harvest pressure continues to be noted as we…
Wheat leads the overnight grain advance. Grain futures are higher overnight, led by the wheat market, as concerns about the extension of the Black Sea corridor. Russia’s state Duma stated, “it does not consider it expedient to extend the grain deal without more closely monitoring the destination of Ukraine’s grain shipments.” Russia’s primary issue is…
The US dollar extends its correction. Follow-through weakness on the US dollar overnight to critical support lifted ags, energies, and metals overnight, with soybeans getting the best of it as rains in the southern portion of Argentina were welcomed. Still, the northern producing areas were left arid and look to stay that week for the…
Turnaround -Tuesday is elusive. Grain futures tried a minor Turnaround-Tuesday on the evening start, but that quickly gave way to further liquidation selling as risk-off became the theme for metals, energies, and equities overnight. Large-scale speculative investment interest remains absent as the Chinese yuan drifts to a 15-year low to the dollar. Yesterday’s progress reports…
Grain prices trend lower Sunday night to start the week. Grain futures opened soft Sunday evening and stayed that way throughout the night as the US dollar firmed off trendline support that was challenged on Friday and an overall lack of any new supply threats. Soybeans had double-digit losses as Pres. Xi of China was…
