Grains trade lower on a better 6-10 day forecast. Wheat futures continued their drift lower overnight, with corn and soybeans tumbling in the morning hours as the overnight trends for the 6-10 day forecast offered a cooler than normal weather and additional rainfall chances. Wetter areas include southern IA and southern NE. Further north in…
Grains trade mixed overnight. Mixed grain trade for this morning, as export sales data typically released at 7:30 a.m. on Thursdays, is delayed until Friday because of the Independence Day holiday. The grain trade is trying to gauge how much improvement there will be to the US corn, soybean and spring wheat crop conditions next…
Grains are indicated higher to restart trading. Opening indications for the restart of the grain trade after July 4 is soybeans and corn 2-4 higher, while wheat is called 3-6 higher. Disappointing crop condition ratings Monday afternoon for soybeans/corn/spring wheat and a dry weather forecast for portions of the N Plains and the northern half…
Soybeans moved sharply higher to start the week. The grain trade finds soybeans sharply higher this morning, supporting the other grains, as world markets react to the USDA’s shocking drop of 4 million soybean acres from the March 31 data. The total US cropped area of 314.5 Mil acres would be the largest in eight…
USDA Crop Report 6/30/23 Crop report extremely bullish for soybeans on stocks and acreage, bearish for corn on acreage
The June Stocks and Seeding report out at 11:00 a.m. today. Short covering kicked in overnight, with soybeans posting the biggest gains. Concern over damaging Derecho winds whipping through N Missouri, S Iowa, and C Illinois on Thursday afternoon had reports and social media pictures of widespread downed corn (which typically at this stage will…
Grains trade mixed overnight rather than collapsing as the week has seen. Grain futures are not sharply lower this morning as they have been in the last several sessions, but traded mixed overnight and ended the morning session a couple of pennies lower. Stability should find its way into the marketplace today as good rain…
Grains continue their liquidation, with rain likely in the dry Midwest. Another morning of sharply lower grain prices as the weather models inside the five-day forecast show abundant chances of rains of over 1.00” in the driest areas of the Midwest for the weekend. Storm clusters overnight moved across northern and eastern IA. With recent…
Big rains arrive in the forecast for the dry Midwest doughnut. Grain prices are sharply lower, peeking on the opening tick of last night’s trade after the market saw sharply lower crop ratings from the NASS and seen selling throughout the night as weather models bring better rain opportunities into the dry Doughnut area of…
Russia experiences leadership turmoil. Grain futures opened last night with mixed volatility, but by morning are all higher to sharply higher for soybeans and wheat. Returning strength overnight came from a Russian Coup attempt by the Wagoner group that throws Geopolitical concern for Putin’s future. The ability of the Wagoner Group to so easily capture…
