Mixed grain trade for Thursday morning. This morning’s grain trade is mixed with soybeans losing ground, giving of yesterday’s gains and then some, while wheat futures stabilize and firm as RIF/Grain Flour has ceased grain export operations in Russia. It appears Russia is nationalizing its grain export industry, raising price control issues. Currently Russian 12.5%…
This morning’s grain trade is nearly mixed. This morning’s grain trade is mixed, as the market is stabilizing from yesterday’s heavy selling. The corn basis bids remain strong and increasing on strong domestic demand while the wheat market is getting attention of the deepening dryness across the HRW wheat belt and the SW Russian winter…
Lack of turnaround Tuesday with evening strength fading. Grain futures opened higher Monday evening, but the trade faded throughout the night. Initial strength occurred as it was reported China’s GDP data showed +5.3% vs. +4.8% expected, boosted by the government’s efforts to spur manufacturing and demand earlier this year. China also reportedly bought 20 cargoes…
Lower crude oil softens the commodity trade. Grain futures are lower to start the week on reasonable planting weather and weakness in the energy complex. The Iranian attack on Israel failed to spark sharp rallies in crude oil, as Israel was able to defend most of Iran’s attacks successfully. The break in crude pressured other…
This morning’s grain trade shows a firm start. This morning’s grain trade is firmer across the board as a recovery bounce into the weekend on short covering gets underway. Yesterday’s USDA Report featured a conservative approach to corn, bean, and wheat balance sheets. The USDA also “punted” on making any changes to Brazilian production, maintaining…
USDA Report 4/11/24 Yield data was bearish in all categories, USDA leaving South America unchanged with their high yield thoughts. Currently market is short covering, focusing on the lower CONAB yields from this morning.
Argentine and Brazilian crops lowered. This morning’s grain trade is mixed with wheat and soybeans softer, while corn is firm ahead of the WASDE data. Overnight Argentina’s Rosario Grains Exchange cut their 23/24 corn estimate from 57 MMT to 50.5 MMT due to disease (leafhopper). Corn stunt disease, which is a bacterial infection called Spiralplasma…
Wheat leads overnight gains after having lead losses Tuesday. The grain trade this morning is mostly higher, led by Kansas City wheat, as again, now the moisture that was scheduled on the models is nearly eliminated, the chance of precipitation across the Dakotas has been reduced with the moisture for Kansas eliminated through April 25….
Wheat ratings did not decline, leading to overnight price losses. This morning’s grain trade is lower across the board, with wheat prices leading the decline. Yesterday afternoon’s crop ratings showed wheat staying even with last week’s 56% good/excellent compared to 27% a year ago. There is concern over continued dryness in the S Plains along…
The grain trade starts the week out with HRW wheat leading. Grain futures are firmer this morning on low volume, with HRW wheat leading the advance. Dryness in the Plains, Canada, E Ukraine, and Russia prove supportive. Meanwhile, stagnant heavy rain continues in the Delta and E Midwest. Little to no rain is forecasted elsewhere…