The overnight grain trade is working on a higher weekly close. The grain trade pushed universally higher overnight, posting gains as fund participation picked up. The buying appears to be driven by a mix of fresh long interest and short covering, as traders adjust their exposure ahead of the weekend. Positioning tied to both month-end…
Their Guess, and Then There’s My Guess Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1177454158 Corn: Old crop stocks above last year near 9 billion bushels, not a surprise Market focused on acreage report with potential for higher than expected planted acres New crop targeting 510 with sales expected between 510 and 525 Fertilizer…
Grains consolidate after overnight gains faded. The overnight grain market had found follow-through buying optimism in the early session on Pres. Trump will be traveling to China, confirmed for May 14-15. That faded at the end of the night trading. But oil prices remain elevated as we get closer to the weekend and to the…
Grinding Gears Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1177058714 Wheat:No meaningful rain through early April driving drought concernsWestern Kansas dryness worsening with freeze-dry conditionsOutside day higher suggests bullish continuationSeasonal window points toward potential peak near April 20Kansas City wheat targeting $7 as potential selling zone Corn:Outside day higher confirms strong technical recoveryWave structure…
Four full trading days until the March 31 Stocks and Acreage report. There was mixed overnight trade, with corn and wheat remaining soft, following crude oil prices, which pushed low late yesterday when Pres. Trump stated that we have some form of a piece arrangement in place with Iran. Soybeans found a bid amid what…
Grinding Gears Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1176691228 Corn Attempted rally throughout session following wheat strength Inside day keeps short term direction neutral Acreage and quarterly stocks report next week driving expectations Fertilizer shortages may shift acres away from corn Bullish bias remains into report Soybeans Struggled all session with weak technical…
The wheat trade sees ratings decline in Monday afternoon’s crop condition report. In the overnight session, wheat and corn got underway with an aggressive Turnaround Tuesday. Wheat saw gains of as much as $0.10 on US crop ratings tumbling 4-6% from the good/excellent ratings. Strength also came from weather forecasts indicating that conditions will remain…
Volatility overnight on Pres. Trump’s tweets that reverse gains. A spectacular night for volatility overnight, with the grain trade managing strong gains as the managed money crowd was heavily selling indexes and precious metals. This all shifted sharply at 6:00 a.m. CT as Pres. Trump indicated that Iran and the US had constructive talks to…
Cattle On Feed On Feed: 100% vs 99.3% estimatePlaced: 104% vs 100.2% estimateMarketed: 93% vs 92.6% estimate The report is bearish to pre-report estimates, so expect a lower opening on Monday, barring outside market conditions.
Wheat trade softens on hopes of Gulf moisture. Overnight action in the grain markets is leaning softer, with the wheat futures lower by a dime again as long-range weather models bring in Gulf moisture in the 10-14 day. Soybeans were higher overnight but have now faded to small gains. The pressure across the grain complex…
