Ukraine corridor 3.0 is being tried. Grain futures pushed lower again overnight, as for the third time again grain futures reacted to the possibility of Russia opening up humanitarian corridors out of Ukraine’s black sea ports. The current negotiations are to have exports allowed out of Odessa if Turkey would de-mine the port and act…
Continued hopes of a Ukraine grain corridor drive prices lower. Grain prices are sharply lower again this morning, on follow-through from yesterday’s sharp break triggered by conversations at the Davos meeting that is encouraging the prospects of opening up Ukrainian exports through exports. New headlines overnight had the algorithm machines in high sell mode as…
Wheat prices lift overnight trade. Grain futures had wheat firm overnight while corn and soybeans traded two-sided. Yesterday’s NASS crop progress data had 72% of the corn planted with 50% of the soybeans in the ground. Only 49% of the spring wheat crop was seated through Sunday. Spring wheat was the price leader overnight, as…
Wheat prices lift on lack of grain corridor compromise. Grain futures were higher overnight, led by the wheat market. Russia rejected the UN’s negotiations to allow grain export corridors through Odessa and Belarus to move Ukrainian grain to lessen the international food crisis. Also, less than ideal weather for the EU, Chinese, Brazilian, and Canada…
Cattle On Feed On Feed: 102% vs 101.5% estimate Placed: 99% vs 96.5% estimate Marketed: 98% vs 97.9% estimate Data is slightly negative to pre report estimates, cattle look to be called softer with support coming from already experiencing heavy selling for the week prior to the report
Wheat prices return to last Friday’s values. Grain futures again found selling for the third day across the board overnight in wheat and corn, as liquidation continues from the spike high in the Tuesday session to new contract highs for the hard wheats. The lack of export interest for wheat and corn at this past…
Risk-off continued overnight with equity and energy. After a firm start overnight, corn and wheat prices move lower to sharply lower overnight following the long liquidation and risk-off attitude of the stock market and energy markets. Also, there is the discussion of UN efforts to restart grain exports out of Ukraine. Still, in the talks,…
Wheat futures correct overnight. Wheat futures corrected in price overnight, as India further opened up the possibility of shipping wheat to neighboring countries such as Bangladesh and Pakistan. This has some in the trade wondering what the ban really implies, other than it doesn’t want to sell wheat to the world, just to neighbors. Even…
