Weather dominates ahead of 3-day weekend. This morning’s grain trade is firm to sharply higher, as the forecast remains dry into June 10. The Midwest/Delta area lacks meaningful rain chances through June 7, adding market premium ahead of the three-day weekend. Also, Russian spring wheat weather forecasts remain dry as well, with no extreme heat…
The grain trade is mostly weaker this morning. This morning’s grain trade is weaker, with wheat leading the decline as the US dollar pushes above 104.00. Speak McCarthy has indicated talks with the Biden administration regarding the debt ceiling are progressing, and he’s confident they will find an agreement. This means some form of fiscal…
Wheat is softer this morning, while row crops are near steady Corn and soybean futures are mixed this morning after a weak overnight run, while wheat prices retreated from their two-day bounce, following French milling wheat back lower today as it gave up well over half of the gains experienced on Tuesday. Goldman Sachs has…
Turn-around Tuesday try to get started in the night session. Grain futures had a rough-and-tumble night, starting higher to break substantially in the night session and then recovering to new highs in corn and wheat for the week. The selloff was due to the significant progress throughout the Midwest, with corn planting at 81%, soybeans…
Row crop prices start the week on the rebound. Grain futures this morning have corn and soybeans on the rebound as the EPA has dropped eRINS from the Biden administration proposal, which is due to be announced by June 14. The eRINS, which are credits for electric vehicles, would’ve produced a surplus of RINS, diminishing…
Cattle On Feed 5/19/23 On Feed: 97% vs 96.5% estimatePlaced: 96% vs 96.3% estimateMarketed: 90% vs 90.3% estimate The report is slightly negative based on today’s close.
Grain prices lift on short covering overnight. Grain futures are higher across the board this morning after the heavy selling that’s been underway since Tuesday gave way in the night, and short covering kicked in for the Friday session. New crop soybeans leave the recovery with $0.15 gains popping it back above $12.00, and Dec…
Grain futures tumbled further as technical support gives way. Grain futures are sharply lower again this morning, led by none other than the KC and Minneapolis wheat markets with corn nearly $0.10 lower on the session as well. French milling wheat tumbled to new calendar year lows and is now at the lowest prices since…
Bloomberg is reporting the Black Sea Corridor will remain open. Grain futures are lower this morning, with December corn under 5.00 while November soybeans fall below 12.00, as row crop spreads collapse with optimal weather for an early planted crop in the Midwest. The Northern Plains plays catch up and will likely go beyond preventive…
