The first trading day of the month starts grains out soft. Grain futures are softer to start the month, as moisture is starting to fall in Argentina, as forecasted into tomorrow before a drier stretch occurs. The trade is waiting on a decision on the Egypt wheat tender today, which will be financed to the…
Cattle Inventory Total US Cattle Inventory: 97% vs 97.1% estimate Total Calf Crop: 97% vs 97.4% estimate Report came in neutral to expectations.
Turn-around Tuesday hits overnight. Grain futures sagged overnight as Turnaround-Tuesday kicked in after the night session got underway. Monday’s strength in beans was met with Argentine premiums declining, with soybeans out of Brazil now bid $0.50-.55 under March, which is $0.70-.75 cheaper than US Gulf soybeans offered at $1.15 over. Brazil’s 48% March soybean meal…
Grain trade moved higher after recent rains. Grain futures moved higher overnight as beneficial rains did arrive over the weekend. Still, the market is focusing on the dry stretcher weather ahead in the seven-day forecast, along with the excitement that China “may” be buying Ag products coming out of their Lunar New Year holiday and…
Grains are higher then last Friday, but strength is being checked. Friday morning’s grain trade is lower across the board after minor strength arrived on the night session opening. Needed rainfall is starting to fall across the Argentine crop areas, and the grain trade has invested a lot in China returning after this week’s New…
Grains firm overnight. Index funds short covering out of wheat. Grain futures are higher with follow-through buying from yesterday’s firm performance, as export sales data was anticipated to be robust and was confirmed this morning with strong sales at estimated expectations. Also, the market expects China to return next week being a buyer. Still, it’s…
Spec trade: Lower stop on short March beans to 1505. Lower stop on March corn to 682.
Turnaround Tuesday kicked in during last night’s opening. Turn-around Tuesday appeared overnight as algorithm computers quickly reversed massive losses that occurred in Monday morning’s grain trade. By mid-morning Monday, Corn had lost nearly $0.30 a bushel, over $0.50 on wheat, and almost $0.70 on soybeans from last Tuesday’s highs. The overnight technical rally had corn…
Grain prices decline as rains arrived in Argentina. Grain futures opened lower last night and are sharply lower this morning as heavy rains fell across the drought-stricken areas of Argentina this past weekend. The two-week forecast calls for near to above-normal rainfall into February 7. This is threatening the record-long soymeal and sizable long soybean…
Cattle On Feed On Feed: 97% vs 97% estimate Placed: 92% vs 91.8% estimate Marketed: 94.7% vs 94.3% estimate Cattle numbers are mostly neutral for Monday’s reopening of trade.
