Metals continue to push into new all-time highs. Overnight trading carried forward the bullish momentum from Monday, with corn, soybeans, and wheat all maintaining modest gains. A key driver this morning appears to be renewed interest from managed money, spurred by a renewed decline in the US dollar. Safe-haven buying has taken hold across multiple…
The grain trade starts Christmas week with moderate strength. Corn, soybeans, and wheat are higher this morning as the holiday-shortened week begins. Much of the support appears to stem from short covering, with traders squaring up positions ahead of the Christmas break after leaning heavily on the sell side in recent sessions. The upcoming Christmas schedule…
Cattle On Feed On Feed: 98% vs 98.4% estimatePlaced: 89% vs 92.0% estimateMarketed: 88% vs 88.7% estimate Report is slightly friendly compared to pre-report estimates.
Friday’s day session gets underway with mixed expectations. After a mostly softer night trade, grains went out with a mixed morning close. Some of today’s trade will be positioning ahead of the next two weeks, with possible short-covering developing in soybeans and wheat. Corn is maintaining its strength on the week as ethanol margins remain…
Corn Comes Alive Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1147817234 Live CattleCash disappointed near 228 in Nebraska versus earlier hopesBoard stalled near the gap with Fibonacci resistance226 support held on the 75 day averageFailure below 226 risks a slide toward 222Seasonally difficult window to be short cattle Feeder CattleEarly losses recovered to hold…
Corn maintained strength overnight on rumored Chinese buying interest. This morning’s grain trade had the morning session, and with corn again leading the strength, followed by HRW wheat. Soybeans were steady. Export sales numbers this morning were solid, with corn at 1.792 MMTs and soybeans at 1.106 MMTs. Corn continues to impress not only with…
Grain Washout Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1147109632 WheatChina reportedly washed out Gulf soft red winter wheat purchases from late NovemberChicago wheat made a new contract low but did not close at the lowTechnicals show a possible wave two washout near a 786 retracementFailure above the 200 day moving average accelerated liquidationWednesday…
Wheat continues on retreat despite further attacks on Russian oil infrastructure. Putin is quiet about any retaliation, even though he threatened it weeks ago. Overnight futures trade was narrowly mixed, with grains trending slightly lower while soybeans posted modest gains. As expected, much of this movement stems from end-of-month, quarter, and year positioning. With this…
