Author: Ivan

Spec Trade: Buy Dec Corn at the MKT, 664 last with a 646 stop.

Equity and commodities go risk-off overnight. The first day of September is greeting the world commodity and equity markets with heavy selling following elevated political tensions between Taiwan/China overnight as Taiwan shot down a drone that intruded into its airspace. Ongoing Central Bank communique continues to push home the fact that US interest rates are…

Spec Trade: Exit short beans at the MKT, 1435.4 last.

Grains continue to press lower overnight from Monday’s high. Grain futures are sharply lower across the board this morning after having a mixed volatile night session. Grain futures turned broadly lower overnight as the EU’s inflation numbers reached a record 9.1% for August. This will prompt another substantial interest rate hike in September, slowing their…

Spec Trade: Sell a Nov Bean at the MKT, 1425.4 last with a 1443 stop.

Spec Trade: Sell an Oct Hog at 94.75 with a 96.75 stop.

Turn-around Tuesday for the grains. Grain futures were lower overnight, with soybeans leaving the decline. The Pro Farmer Crop Tour is the low water benchmark for corn yields, and prices have acknowledged that, along with the prospects of a record bean crop. The focus is now shifting to demand, which the USDA may have overstated…

Spec Trade: Sell a Dec Chicago wheat at the MKT, 847 last with an 863 stop.

Stats Canada Crop Report All wheat production was 34.572 MMT versus an estimate of 31.6-35 MMT.Canola 19.498 MMT versus an estimated range of 18.6-20.3 MMT.Durum 6.472 verses estimate range of 5.2-6.5.Oats 4.47 versus estimated range of 4.4-4.7 MMT  

Pro Farmer Tour results had corn higher overnight. Corn futures opened higher overnight on the friendly results from the Pro Farmer Crop Tour producing a yield of 168.1 BPA, while soybeans started the session lower and stayed that way for the bulk of the night. The soybean crop yield from the tour produced a yield…