Turnaround-Tuesday in play after yesterday’s strength. Grain prices softened overnight, with soybeans heading back to the monthly lows, as the short covering buying interest on Monday, with some market participants thinking the WASDE crop reports reflected optimistic weather and things can go bad, still needs to find threatening weather to have further buying interest. Open…
WASDE crop reports need ideal weather to verify. Grain futures firmed overnight after a soft start, with Kansas City wheat taking the lead on the recovery rally. Soybeans found buying interest after midnight as the Brazilian basis, which started to firm last week, firmed further and has now bounced 30-$0.40 off its lows. It is…
USDA Crop Report 5/12/23 Wheat bullish to pre-report guesses, while corn and soybeans are bearish.
Grains leaning firmer on the morning of the crop report. The May crop production and WASDE report will be out at 11 AM CDT time today which will show this years first balance sheets for 2023/2024. Expectations have been bearish according to the trade. End users looking to buy at lower prices and warming temperatures…
WASDE crop report Friday. Grains are lower across the board this morning, led by soybeans that appear to be ready for another leg down with bearish news anticipated this Friday from the WASDE crop report. Also export sales this morning were minimal as anticipated. Argentina lowered its soybean production to 21.5 MMTs and lowered corn…
Grains lower ahead of the WASDE crop report Friday. Grain futures are lower this morning on follow-through technical selling from yesterday’s poor close and the unwillingness of buyers to maintain recent new long positions ahead of this Friday’s potentially negative WASDE crop report. Also, talks are being pushed again by the UN/Ukraine/Turkey to continue working…
Spec trade: Sell an August live cattle at the market, 161.25 last with the 162.90 stop.
Grains are lower across the board, recovery bounce ending. Grain futures are lower this morning as weekly crop progress/condition reports were mixed to slightly bearish for US corn and soybean seeding progress that was slightly ahead of the five-year average. Of course, concern remains that North Dakota’s seating has yet to get fully underway. Disappointment…
Grains start the week mostly firmer, extending last week’s recovery. Grain futures are higher this morning after a rough start Sunday night. The large short position in wheat, corn, and soybean oil helped prompt further buying as they lightened up their trade ahead of the growing season and the pending closing of the Black Sea…
Grains are firmer overnight with outside markets. The grain trade was higher overnight, along with equities and indexes, as the banking crisis continues to be muted by the Fed’s generous lending of money to whoever and wherever it is needed to mop up the problem. Something to ponder in the banking “crisis” is that 12…
