Soybean values break to new contract lows. A widely mixed trade with wheat higher, while soybeans tumble as the Continuing Resolution Bill before Congress offers nothing for soybean oil but has E15 year-round for ethanol in it. The bill before the U.S. House includes $31 Bil of aid for farmers being labeled as disaster aid…
Can Corn Still Rally? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1040164435/206379a587?share=copy Corn:Turned higher after Friday’s low but must hold 440 support; failure risks a larger pullback to 432-436 before resuming an upward trend.USDA’s lower carryout estimate supports corn’s upward bias, with acreage competition expected to sustain prices. Soybeans: Broke lower, targeting 945-950 if…
The grain trade showed a strong recovery overnight in wheat. The markets are showing signs of strength overnight, with wheat leading the way on Putin’s comments and some questions over Russia’s ability to facilitate exports as we move ahead. In the Eastern part of Ukraine, Russian forces have been making significant advances on the ground…
The French milling wheat continues climbing. The markets are mixed this morning, with wheat and corn trading slightly higher, while beans are trading lower. March is at a new fall low after trying to trade higher overnight. Today marks the start of the last meeting of the Federal Reserve this year, with a rate decision…
Corn absorbs farmer selling after big early week gains. This morning’s grain trade is mixed, with wheat firming and corn steady while soybeans soften. After a strong lift this past week on the corn futures, while the basis had been strong, it would not be uncommon to see strong farmer selling develop in the market….
Did Corn Top? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1038708440/68d0adb120?share=copy Grain Markets: Corn exports near 1M metric tons weekly; soybeans over 1M with new sales announced.Wheat shows signs of potential rally; short covering may boost prices. Livestock Markets: Cattle push toward 193-196 range; feeder cattle eye 270 with strong holiday momentum.Seasonal patterns favor…
CONAB released the Brazil crop report, almost unchanged from last month. This morning’s trade is mixed with the weakness of a few pennies noted in the corn market. Cash flow needs and an overall improvement of cash values offered to farmers of a dollar a bushel or more in some locations since pre-harvest lows have…
Corn and wheat continue higher post-WASDE. This morning’s grain trade has corn pressing the October high this morning trading over 4.50 as they continue to respond to yesterday’s USDA report, which contained a bullish surprise for corn, with carryout coming in 200 million bushels lower than last month’s estimate and 168 million bushels below trader’s…
