Overnight grain trade reacts to less than expected drop in crop ratings. The overnight trade reacted to yesterday’s small decline in crop ratings after closing soybeans above $14.00 for the first time since July 27. Losses in corn were mitigated, while soybeans dipped back below 14.00 overnight. Crop Progress showed corn conditions 56% G/E vs…
Soybeans breach $14.00 overnight on poor finishing weather. The grain trade opened higher overnight on concerning heat that returns Labor Day weekend and extends through September 12. Wheat futures stumbled as they typically do, being the weak leg of the grain trade that gets shorted while buying soybeans. Soybeans breached $14.00 for the first time…
Soybeans are set to close at new weekly highs. This morning finds soybeans challenging early week highs, while the wheat market amounts small rebound with corn steady. The weather forecast looking forward has another 10-14 days of dry weather with heat returning after cooling. This weekend. The expiration of September grain options and the likely…
The grain trade paused after yesterday’s strong gains. The overnight grain trade was mixed, which carried through into the morning. Profit-taking from yesterday’s strong rally across the board stalled wheat and corn, while soybeans tried to maintain further strength. The Wednesday’s Pro Farmer Crop Tours results see reasonable potential in Illinois and fair for the…
The Pro Farmer tour enters the states that have been stressed today and Thursday. Grain prices are mixed this morning, with corn and wheat finding support on reports that Russian drone strikes occurred again on the Danube River grain terminals and caused fire and damage to storage facilities. Meanwhile, soybeans stumbled the night after the…
The grain trade consolidates after yesterday’s losses. This morning’s trade is seeing a small Turn-around Tuesday develop in wheat and corn, but overnight strength is drifting. Soybeans have seen a considerable price advance over the past five sessions due to the forecast of hot/dry Central US weather this week, where yield reduction risk stays real….
Soybeans lead overnight strength Grain futures opened sharply higher last night, with soybeans the strongest, as the crop is most at risk with the upcoming record heat, which will affect pod filling. Wheat softened overnight as it became the sell leg against soybeans, while corn retreated its gains after jumping $0.30 from last Wednesday’s new…
Concerning weather for the last half of August supports beans. Grain futures had corn and wheat lower overnight, while soybeans had mounted a strong rally that faded by the morning hours. Concerns continue to grow over the upcoming hot/dry weather in the Central US for the next two weeks and what the impact will have…
More Ukraine attacks overnight Grain futures firmed overnight after becoming oversold, as Russian drones targeted Danube River grain silos last night at the port of Reni, damaging storage and warehouses, according to senior Ukraine officials. However, grain shipping sources say operations have continued despite the attacks, keeping prices in check. A Hong Kong flagged ship…
Crop ratings had values lower overnight. Grain futures are softer this morning, lower with yesterday’s improved crop ratings. Crop Progress showed corn conditions improving 2% to 59% G/E. Notable changes included IL +6%, MO +9%, SD +9%, IN & OH +3%. Soybean conditions improved by 5% to 59% G/E. Notable changes included IL +12%, IA…
