Soybeans bounce overnight on Chinese tariff reduction for November 10. The soy complex is seeing a moderate recovery this morning after yesterday’s selling proved to be overdone. Much of the pressure on soybeans yesterday came from profit-taking, especially in meal following a $52 rally. Overnight, soybeans retested Monday’s highs after news that China suspended its…
Turnaround-Tuesday is underway row crops today. This morning’s grain trade is seeing profit-taking develop in soybeans and corn for a Turnaround-Tuesday after their spectacular run the past two weeks while wheat is mixed after its recent surge. Yesterday was first trading day of the month, classic for a surge into it to stall. News that…
Grains push new recovery highs overnight for wheat and beans. Corn, soybeans, and wheat are starting the week on firmer footing as light new-month buying emerges. A key driver behind the strength is easing trade tensions with China. After several months of silence, China reportedly purchased seven cargoes of U.S. soybeans last week and showed…
Grains soften as China may take time buying beans. Corn, soybeans, and wheat are under pressure this morning as both pre-weekend and month-end consolidation appear to be guiding trade. The bullish momentum seen earlier this week following the Chinese trade agreement has tapered off, with traders now waiting for concrete details before adjusting positions further. While…
China to buy 12 MMT of beans this year and 25 MMT the next 3 years. It was a wild and woolly night session as overnight grain strength initially faded after testing midweek highs. The momentum collapsed once the U.S.–China meeting concluded without meaningful detail. The market quickly fell into a “buy the rumor, sell the…
Grains stall awaiting the meeting this evening in South Korea. Grain futures are under pressure this morning as profit-taking kicks in after a string of strong sessions. Corn, soybeans, and wheat had recently attracted fresh buying interest, but that momentum has now drawn some weak longs into the market, many of whom are now being…
Grains keep climbing, and feeder cattle should trade today. The grain market followed through overnight with further gains, with soybeans again pushing double-digit strength on improving trade relations with China. But we still have not seen details of the framework with China. The bottom line is that if they buy any soybeans, it is more than…
The current grain rally anticipates a Chinese/US trade resolution in two weeks. Grain futures got a boost overnight as it appears we have a framework for a trade deal with China that hopefully will be agreed to later this week when President Xi and President Trump meet. The trade deal has soybeans doing the heavy…
The current grain rally anticipates a Chinese/US trade resolution in two weeks. A quiet mixed price in grains as we come into Friday morning, ahead of the weekend. November options expire today with first notice day next Friday on November soybeans. This morning, global trade is back in the spotlight after President Trump canceled a…
Hope builds for a Chinese resolution next week. Cattle lose their tariff support. Grains are firmer this morning, as we suggested in yesterday’s newsletter. Late afternoon trading in crude oil pushed sharply higher on the announcement of extreme sanctions against Russia’s main oil industry, which would at least lend support to the grains, which were…
