Grains prices are higher this morning as ratings decline rapidly. Grain futures are higher this morning, led by soybeans, as crop ratings are in fast decline, likely absorbing some decline that should’ve been reported last week from the USDA. Yesterday, corn conditions fell -3% G/E and soybeans -5% G/E week-over-week. Corn is maturing early, and soybeans…
Old crop soybeans continued their strength, Spring Wheat tour finds disappointing yields on day two. Grain futures saw the old crop soybean market burst higher again overnight, followed by the hard wheat contracts as the second day of the spring wheat tour found some disappointing results. Wheat futures had a volatile session, with losses developing after…
Grains are higher with wheat the leader this morning. Grain futures had wheat moving sharply higher overnight leading the charge, with corn making new monthly highs as the US dollar weakens below 100.00, prompting spec and export interest. Also, weather models are turning drier for the Canadian prairies, Northern Plains, and the NW Midwest from July…
Grain futures continue the spring break. Grain futures are lower again this morning, with wheat futures reflecting double-digit losses again on the southern plains receiving rain accumulations of 1-3.00” in the past 72 hours, along with Canada showing a large jump in spring wheat acres yesterday of 600,000 acres above average estimates and a 1.3 million…
Stocks and Acreage Report out at 11:00 a.m. CT today. A mixed grain trade this morning greets the USDA March Stocks and Seeding’s report out at 11 AM CT. Wheat prices were lower on follow-through after yesterday’s reversal, while soybeans continue to remain firm. It’s been observed that China continues to switch reserve soybean purchases from Argentina…
Grain prices trade firm overnight. Grain prices were firmer overnight as corn anticipates another Chinese corn sell announcement, wheat is concerned with Russia standing fast with the 60-day corridor door extension, and BAGE makes cuts to the Argentine corn and soybean crop again. Concerns could evolve with today’s quad-expiration of options and futures for indexes today…
Grain trade is mixed as is outside markets this morning. Grain futures are mixed this morning after a low volume will night session. The European banking sector is calm today as the Swiss National Bank offered a $50 billion line of credit to Credit Swiss (Credit Susie). This was highly anticipated late yesterday as the markets…
CPI data this morning comes in mostly near estimates. Grain prices softened overnight after yesterday’s poor technical close as liquidation continues in the present risk aversion atmosphere. Open interest fell in yesterday’s liquidation, reflecting an attitude of fewer players participating, decreasing liquidity and creating sharp spikes or dips much more quickly on headlines. The Black…
Grains search for a liquidation low. Grain futures are mixed this morning after initially seeing a rally across the board overnight. Soybeans moved higher as China’s PMI index showed a surge that reflects expanding domestic demand for commodities and the hope for a Chinese recovery. French milling wheat opened softer early this morning and is down…
Soybeans make new lows on the week. Grain futures are mixed with strength in the wheat led by Iraq seeking a wheat tender this week from either the US, Australia, or Canada specifically, with the limited number of participants invited. The key will be whether Iraq opts to purchase 300,000 MTs, and part of this…