Grains trade follow-through weakness overnight. Soybeans were lower overnight, and a classic midweek two-day setback and what is the only bullish trend in the grain complex, while wheat and corn find willing sellers as they failed to break out of recent congestive trends. Soybeans decline is amid the prospect of showers in the northern 2/3’s…
Overnight strength gets checked before the end of the morning session. Grain futures are lower by a penny or two at the end of the night session but had spent most of the night higher. South American weather does offer rain in N Brazil next week, but it’s the damage of the heat this week…
Overnight weakness was minimal. Grain futures experienced a bit of a Turnaround-Tuesday overnight, but prices have recovered into the morning hours. The prospects of rainfall in the dry areas of N Brazil are bringing in a slightly wetter forecast inside the 6-10 day forecast. The forecast then shows a high-pressure Ridge returning for Northern Brazil…
The the week gets underway with strength in soybeans and weakness in corn/wheat Grain futures are mixed this morning with weakness in corn and wheat, a follow-through from last Friday’s close, while soybeans push higher as S Brazil’s weather remains too wet in the South while the Central and North are too dry for the…
The overnight grain trade ended with mixed one-penny movements. The markets are still absorbing yesterday’s negatively construed report data as the USDA November report data showed a corn yield of 174.9 bpa and a soybean yield of 49.9 bpa. This was the largest “bearish surprise” for corn in the November Report in six years. Market…
USDA Report 11/9/23 Report data was considered slightly negative to pre-report estimates.
The November WASDE crop report is out today at 11:00 a.m. This morning’s grain trade is lower across the board ahead of the November WASDE crop report, as wheat producing the biggest retreat despite the recent Russian attack on a civilian vessel. Ukraine’s Deputy PM said that the “alternative” Black Sea route will continue to…
Grains move higher on concerning searing heat for N Brazil. Grain futures are higher this morning, again led by a sharply higher move in soybeans, which pushed to a new fall price recovery high of 1382.2 overnight before retreating slightly. Wheat and corn are also seeing recovery gains of 5-7 cents after corn rechallenged the…
Turn-around Tuesday affects the commodity complex. Turn-around Tuesday is welcoming most of the commodity markets lower, with soybeans rallying back from overnight weakness as South American weather is not showing any budging to current forecasts and flow, which is concerning for both corn and beans. There will be scattered rains in some areas, but not…
Soybeans rise again overnight, Brazil forecast is concerning. This morning’s grain trade has soybeans sharply higher with the building concern of the Brazilian bean crop weather, while corn holds steady firm, and wheat softens on Russia’s stagnant wheat pricing. Threatening weather in South America has soybeans building premium. Russian FOB wheat prices are holding steady…
