Harvest pressure and US/China Summit hopes are weekend topics. Grain Overview Unlike previous nights this week, grain futures were mostly lower overnight (even soybean meal, which has been exploding daily), but true to form, they reversed their overnight trend around 4:00 a.m. CT, which has typically been the reversal of night trading action over the…
Just another night session where overnight strength fades after 4:00 a.m. CT. Grain Overview It’s just another day in the neighborhood where overnight grain strength fades after 4:00 a.m. CT, typically led by wheat, as night session rallies are easier to come about than in the daytime during harvest season. Soybeans had robust overnight recovery from yesterday’s…
A mixed grain trade after a strong overnight showing greets the morning session. Grain Overview Grain futures are mixed this morning, with soybeans still showing strong gains. Overnight prices pressed higher across the board on follow-through buying from yesterday’s strong performance, but stalled during the classic 4:00 a.m. CT window when the Matif in Paris opens…
Grain prices slump on hedge pressure, with no new headline excitement. Grain Overview Corn, soybeans, and wheat all saw pressure in overnight trade as a lack of bullish news following the September WASDE report is limiting buying interest. The weekly crop report showed the US harvest is advancing, and new-crop inventory is becoming available. The ag…
Grains consolidate overnight from Friday’s volatile session. Grain Overview A minor wild and woolly night as grains opened higher, immediately reversed lower, then found the trade trend reversing around unchanged numerous times. This means the trade has turned consolidative after Friday’s September WASDE report. While several changes were noted to balance sheets, almost all were within…
It’s crop report day today, and USDA numbers will be under review. Grain Overview A weak grain trade greets the morning of the September WASDE/Crop Production report, as crude oil and diesel fuel give back half of their sharp gains yesterday, with the grain trade also in full retreat from yesterday’s strength. November soybeans pushed through…
Overnight grain trade finds renewed optimism. Grain Overview The grain trade is seeing a recovery overnight ahead of Friday’s WASDE/Crop Production report after corn has seen a decline for five sessions in a row. After hitting the measured move theory number of 548.6 on Dec corn, a profit-taking cleanse has run its course alongside soybeans, which…
Grains traded 2-sided overnight, breaking a bearish slide. Grain Overview The overnight grain trade had seen a mixed approach after yesterdays heavy selling erased most of the Monday night’s gains, when wheat was up as much as $0.30. Last nights weakness absorbed the anticipated StoneX high watermark estimate for Friday’s WASDE/Crop Production report, with corn at…
Overnight grain optimism fades from the typical 4:00 A.M. high. Grain Overview The overnight grain trade opened higher, with wheat at one point gaining $0.30 in the overnight session on word that no Black Sea grains were moving this week. But as typical, by 4:00 a.m. CT when the MATIF opens, the selling vigilantes arrive to…
Trade consolidates ahead of a three-day weekend. Grain Overview Overnight grain trade has been mixed, with corn, soybeans and wheat spending time on both sides of unchanged. A lot of what we are seeing this morning looks like consolidation ahead of the long Labor Day weekend, with markets closed Monday. That should encourage more position squaring…
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