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…

Morning Update 1/13/21

USDA crop report sets grain trade defensive. Grain futures are lower across the board this morning, in the classic sell the grains after crop report day style, this was prevalent last year from the first crop report of the year through June. Forecasts of rain in the next week has the market hopeful of some…

Morning Update 1/12/21

USDA crop report out today at 11:00 AM Grain prices are softer Wednesday morning ahead of the USDA crop production data out at 11:00 a.m. Part of the concern is that the USDA is always slow in reflecting damage that is likely inflicted to the South American crop as of January 1. This can produce…

Morning Update 1/11/22

Brazil data out this morning. Grain futures have a mixed start Tuesday morning with soybeans holding near Monday’s lows. This morning, Brazil’s CONAB crop report put the been estimated 140.5 MMT’s versus their December gas of 142.9 as yield cuts in Parana and RGDS offset gains in central and northern crop areas. The average guest…

Morning Update 1/10/22

Grains start the week lower ahead of key reports. Grain futures are lower to start the week, after two runs at a firmer trade overnight on the session for corn and beans, weakness continued as the general weakness across the commodity complexes and financials prevails. This week is Brazil’s CONAB crop production estimates on Tuesday,…

Morning Update 1/7/22

Potential rain in the 10-15 day SA forecast. Grain futures are lower across the board this morning, as the 11-15 day forecast for S Brazil/Argentina is offering a potential pattern shift, as some would suggest, that reduces rain in northern Brazil and brings about .5-1.5″ of rain for the dry southern areas January 17-21st with some…

Morning Update 1/6/22

Grains tumble overnight on Fed monetary policy notes. Grain futures moved lower to sharply lower overnight, led by the decline in stock indexes and metals, which reacted negatively to the Federal Reserve’s minutes from their December meeting. The minutes revealed a more hawkish central bank preparing to reduce inflation via monetary means. The catch is,…

Morning Update 1/5/22

Row crop pricing corrects with wheat much weaker. Row crop futures were firmer most of the evening but turned lower by morning, dragged lower by the continual weakening wheat market. Malaysian Palm oil moved to new contract highs overnight, up 122 ringgits at 5036 RM/MT, which is a new contract high. This is supporting bean…