Author: Ivan

Spec trade: Sell 1 Nov mini-bean at 1477 and 1 at 1487 GTC with a 1528 stop. currently 1677.

Wheat leads the overnight price recovery. After a mixed evening session, grain futures pushed higher in the early morning hours, led by wheat. The Egyptian GASC tender will be receiving US SRW wheat in its offers. Egypt’s unusually large three-month period of import interest has included SRW wheat due to the depressed pricing that has…

Turn-around-Tuesday for grains. Grain futures turned higher overnight with wheat finding buying interest from Egypt’s GACS tendering for world optional origin wheat, along with China lowering their Covid restrictions for international travelers. It’s anticipated that China will soon be adjusting its zero Covid control strategy, which could help turn its country out of its economic…

Wheat and soybeans recover from sharp overnight losses. The grain futures tumbled on Sunday night, opening out of the chute with sharp losses initially, with wheat and soybeans finding a bid that quickly recovered, setting them positive on the session by late evening. Soybeans found initial buying at last week’s lows with the upcoming acreage…

Cattle On Feed On Feed: 101% vs 102% estimate Placed: 98% vs 100% estimate Marketed: 102% vs 103% estimate Report is bullish for On Feed and placement numbers compared to pre-report estimates, marketed was slightly less than expected. Expect a sharply higher opening on Monday of at least a dollar due to the depressed nature of the…

Grains Rebound after three days of liquidation. Grain futures are in recovery mode on Friday after three days of heavy liquidation on the “fear” of recession which is not based on “fact” that the grain trade will slow in the coming quarters. The blinders are off today, and the market is focusing on the prospect…

Corn wave count. The dynamic collapse in corn with index funds in complete liquidation mode is characteristic of wave C. The 4th wave low did not occur at 682, which in hindsight was essentially the A wave with the B wave bounce to the 78% Fibonacci number of 749 before the current implosion. Wave C…

India’s wheat crop reported smaller. Grain futures moved sharply lower overnight on a significant decline in crude oil pricing along with Malaysian palm oil. This pressed bean oil sharply lower along with canola, pushing soybeans to double-digit losses while corn drifted in sympathy with the lower gasoline prices. Wheat futures bounced from extreme oversold conditions…

Spec Trade: Buy a Dec Corn at the MKT, 692 last with a 679 stop.

Three-day weekend creates heavy liquidation. Despite searing heat forecasted for the Delta and Gulf states where corn is pollinating and the trend of below-normal rainfall, along with Russian missiles flying into the port of Odessa in Ukraine, grain futures opened sharply lower overnight and went into heavy liquidation. Active index fund selling for managers limiting…