The grain trade flounders above recent price lows. Grain Overview Grain futures found support overnight, with corn, soybeans, and wheat all posting gains as traders covered short positions. Wheat futures again followed a familiar seasonal pattern, fading from their overnight highs as the session progressed. Recent selling pressure appears excessive in corn and wheat, leaving…
2-sided trade occurred overnight, as Iran/US talks shifted. Grain Overview Grain futures did open higher last night, with crude oil pushing $78.00 amid vitriol between the US and Iran over reports that the MOU was falling apart. Overnight headlines shifted that, by morning, we have crude oil off $1.31, trading at 74.54, as the Iranians…
Cattle On Feed On Feed: 102% vs 102.5% estimatePlaced: 90% vs 94.5% estimateMarketed: 88% vs 89.4% estimate The report is friendly to pre-report estimates on a friendly placement number
Today is the last trading day of the week before closing for a three-day weekend. Grain Overview After yesterday’s strong performance, corrective action is taking place ahead of a three-day weekend. Markets will close at the regular time today and resume Sunday night at 7:0 p.m. CT. Export sales this morning again showed consistent sales…
Rumors continue about new export demand, with hopes of Chinese new-crop buying. Grain Overview The grain trade firmed substantially overnight, fueled by continued rumors that China may soon purchase new-crop US beans and by potentially lower tariffs that will encourage purchases of corn and wheat. Also, France is experiencing a severe heat wave that is…
Rumors continue about new export demand, with hopes of Chinese new-crop buying. Grain Overview The grain trade firmed substantially overnight, fueled by continued rumors that China may soon purchase new-crop US beans and by potentially lower tariffs that will encourage purchases of corn and wheat. Also, France is experiencing a severe heat wave that is…
Rumors continue about new export demand, with hopes of Chinese new-crop buying. Grain Overview The grain trade firmed substantially overnight, fueled by continued rumors that China may soon purchase new-crop US beans and by potentially lower tariffs that will encourage purchases of corn and wheat. Also, France is experiencing a severe heat wave that is…
Wheat catches a bit overnight while soybeans give up Monday’s gains on crude oil weakness. Grain Overview The grain trade is mixed this morning, as weakness overnight was tied to crude oil slipping below Monday’s levels, with grains also absorbing soybean and corn ratings that had showed a 1% improvement while spring wheat was up 3%….
The US and Iran are to sign an MOU on Friday if it holds together. And then it’s only a 60-day agreement. Grain Overview Just ahead of market openings last night, it was announced that Iran and the US came to MOU agreement that for some reason, (which can allow for revisions and arguments this week)…
The market is toying with the hopes of an Iran/US MOU that could get signed this weekend in Geneva. Grain Overview Grain futures came under light pressure overnight as improving geopolitical sentiment combined with beneficial rainfall across portions of the Corn Belt. Energy markets led the weakness, with crude oil falling by more than $3.50…
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