Uncategorized

USDA Report 9/29/23 Negative beans and wheat, friendly corn. Markets are reacting negatively across the board.

The USDA Crop Report is out today at 11:00 a.m. It’s USDA Crop Report Day today, with the September 1 Stocks report and the Final Small Grains report out at 11:00 a.m. today. The trade has spent most of the evening firm, with corn rallying to within ½ cent of the September high of 490.2…

Hogs and Pigs Report All Hogs and Pigs as of September 1st: 100% vs 100 estimates Kept For Breeding: 99% vs 98.7 estimates Kept For Marketing: 100% vs 99.3 estimates The report is negative to pre-report estimates. Market called $1.00-1.50 lower for Friday’s open.

Spec Trade: Buy 1 Dec Micro-Silver at the MKT 22.85 last with a 22.40 stop.

The grain trade reverts to sell mode. After several days of price recovery, yesterday, wheat led the renewed decline in the hard wheat contracts, and then overnight, soybeans are also on the retreat. The culprit of course continues to be poor exports, and this morning’s export sales again were just mild, as expected. Meanwhile, yield…

Short covering the future of overnight trade. Grain prices rallied overnight on short covering from fund managers ahead of this Friday’s September 1 Grain stocks and final Small Grains Production report. Wheat price strength faded as Egypt announced a new wheat tender for 1 MMT for the last half of November with negotiations to purchase…

Grains are set to test Turnaround-Tuesday. Grain trade was mostly higher overnight until subsiding during the early morning hours, as crop ratings showed the soybean crop down 2% to 50% G/E with 12% of the crop harvested. Corn ratings increased by 2% to 53% G/E with 15% harvest complete. Numerous analyst models continue to suggest…

Grains are mixed after a soft overnight trade. Grain futures are mixed to start the week, as the focus will start to turn to the NASS September 1 Stocks, and the 2023 Final Small Grains report out this Friday. It is not uncommon to get some statistical surprises, as the March and June stock data…

Cattle On Feed 9/22/23 On Feed: 97.8% vs 97.7% estimatePlaced: 94.9% vs 93.6% estimateMarketed: 94% vs 94.7% estimate The report was neutral to market expectations with little influence to Monday’s opening.

Short covering the overnight feature in the markets. Grain futures rallied overnight as the commodity/equity world recovered from Thursday’s risk-off session. The yield on the 10-year note reached just under 4.5% from the results of the hawkish comments from the Federal Reserve on Wednesday that rates will be higher for longer. This refocused the marketplace…