Morning Update 11/25/22

World grain trade suggests a mixed restart. Grain futures are anticipated to have a mixed start this morning. They could be a few pennies higher or lower, as China’s daily Covid infections are broadening lockdowns while a slow soybean seeding pace continues in Argentina. French milling wheat was sharply lower on Thursday but recovered all its…

Morning Update 7/28/22

Grains continue to climb. Grain futures are higher across the board again this morning as the weather forecast for next week continues to remain threatening for not only the Midwest but the European weather as well. Forecasts call for a round of hot/dry weather for the Plains and W Midwest, which will continue to pressure US…

Morning Update 6/23/22

Another heavy night of liquidation in commodities. Grain and commodity futures across the spectrum overnight continued their relentless and plunging action in liquidating style from index funds that is beyond a slight improvement in the weather in the short term. Since the release of the CPI two weeks ago Friday and the actions of the Fed…

Morning Update 6/16/22

Threatening US and European weather takes focus. Grain futures are firm to higher this morning after a mixed overnight session. Threatening US and European weather are creating support while the outside markets have equities and energies sharply lower after yesterday’s post-Fed meeting rally. The Federal Reserve did react with a .75% interest rate hike with a…

Morning Update 6/2/22

Egypt pays record value for wheat. Grain prices are in strong recovery mode today, led by the wheat market, as Egypt’s purchase of wheat yesterday was at a record price of $480/MT CIF for 465,000 MTs of wheat. The wheat purchase was of Romanian, Bulgarian and Russian sourced wheat. The Russian wheat came with the freight…

Morning Update 3/28/22

Grains decline on potential Black Sea truce and China lockdowns. Grain futures started soft Sunday night and steamrolled into a sharply lower night session led by wheat. With Russia shifting its military focus to the Donbas region of E Ukraine, the market senses the ability of Central and West Ukraine to have improved planting progress…

Morning Update 2/23/22

Malaysian palmoil pulls bean oil higher. Grain futures continued higher in the night session, with wheat maintaining yesterday’s gains and Malaysian palmoil again setting new historical highs on supply tightness, pulling soybean oil higher in its wake, which also carries beans to new contract highs. Last night the March bean contract got within $0.12 of the…

Morning Update 1/14/21

Markets closed on Monday. Grain futures are mixed after a mostly lower evening session. Corn futures found renewed buying at the 50-day MA on concerns of a sharp fall in South American corn production. Talk continues to grow that the Argentine corn crop will likely end up no larger than 42-44 MMT’s compared to early season…