The the week gets underway with strength in soybeans and weakness in corn/wheat Grain futures are mixed this morning with weakness in corn and wheat, a follow-through from last Friday’s close, while soybeans push higher as S Brazil’s weather remains too wet in the South while the Central and North are too dry for the…
The overnight grain trade ended with mixed one-penny movements. The markets are still absorbing yesterday’s negatively construed report data as the USDA November report data showed a corn yield of 174.9 bpa and a soybean yield of 49.9 bpa. This was the largest “bearish surprise” for corn in the November Report in six years. Market…
USDA Report 11/9/23 Report data was considered slightly negative to pre-report estimates.
The November WASDE crop report is out today at 11:00 a.m. This morning’s grain trade is lower across the board ahead of the November WASDE crop report, as wheat producing the biggest retreat despite the recent Russian attack on a civilian vessel. Ukraine’s Deputy PM said that the “alternative” Black Sea route will continue to…
Grains move higher on concerning searing heat for N Brazil. Grain futures are higher this morning, again led by a sharply higher move in soybeans, which pushed to a new fall price recovery high of 1382.2 overnight before retreating slightly. Wheat and corn are also seeing recovery gains of 5-7 cents after corn rechallenged the…
Turn-around Tuesday affects the commodity complex. Turn-around Tuesday is welcoming most of the commodity markets lower, with soybeans rallying back from overnight weakness as South American weather is not showing any budging to current forecasts and flow, which is concerning for both corn and beans. There will be scattered rains in some areas, but not…
Soybeans rise again overnight, Brazil forecast is concerning. This morning’s grain trade has soybeans sharply higher with the building concern of the Brazilian bean crop weather, while corn holds steady firm, and wheat softens on Russia’s stagnant wheat pricing. Threatening weather in South America has soybeans building premium. Russian FOB wheat prices are holding steady…
Soybeans rise again overnight, holding the grain trade firm. This morning’s grain trade has soybeans pushing to new weekly highs while corn challenges the September low in the overnight. More talk of Chinese interest in US Gulf soybeans is surfacing along with the concerning weather in Brazil. Corn has a strong ethanol grind but concerns…
Another rotate morning with beans leading while wheat softens. Overnight strength was mostly tied to soybeans pressing higher on the concerning Brazilian weather, which is now coming into the headlines. Also, risk-on came throughout the commodity complex for energies, metals, and indexes after Fed Chairman Powell yesterday hinted that the Fed may be finished with…
Wheat leads overnight gains, a reverse of yesterday. Grains are mixed this morning, with wheat leading the advance, on rumors of possible Chinese buying of SRW wheat out of the PNW. The corn and soybean harvest should advance quickly over the next 10 days on a warm/dry trend that should persist, while the Mississippi is…
