The two-day wheat rally pauses. Grain futures are mixed this morning after the wheat’s sharp Tuesday/Wednesday rally, with wheat pricing stalling and soybeans firmer. The markets are digesting the logistics of a potential reduction in wheat and corn exports out of Ukraine if military action was to commence. There is also the likelihood that this…
Ukraine/Russian tensions return. Grain futures were sharply higher overnight, with futures following through from Tuesday’s substantial wheat gains and soybeans taking back the remainder of Monday’s losses. SA weather forecasts are taking some rain from what was a generous forecast for S Brazil/central Argentine over the coming week. Wheat futures found strength on renewed rumors…
Grain futures follow Europe pricing. Grain futures are following European action with wheat prices higher, while corn and soybeans setback on South American rains that are starting to fall. Light showers of under .40” fell in key areas of central Argentina and far southern Brazil with an active precipitation pattern to linger into the coming…
USDA crop report sets grain trade defensive. Grain futures are lower across the board this morning, in the classic sell the grains after crop report day style, this was prevalent last year from the first crop report of the year through June. Forecasts of rain in the next week has the market hopeful of some…
USDA crop report 1/12/22 Data was mostly negative for US carryout numbers but friendly for South American production
USDA crop report out today at 11:00 AM Grain prices are softer Wednesday morning ahead of the USDA crop production data out at 11:00 a.m. Part of the concern is that the USDA is always slow in reflecting damage that is likely inflicted to the South American crop as of January 1. This can produce…
Brazil data out this morning. Grain futures have a mixed start Tuesday morning with soybeans holding near Monday’s lows. This morning, Brazil’s CONAB crop report put the been estimated 140.5 MMT’s versus their December gas of 142.9 as yield cuts in Parana and RGDS offset gains in central and northern crop areas. The average guest…
Grains start the week lower ahead of key reports. Grain futures are lower to start the week, after two runs at a firmer trade overnight on the session for corn and beans, weakness continued as the general weakness across the commodity complexes and financials prevails. This week is Brazil’s CONAB crop production estimates on Tuesday,…