New weekly highs for soybeans overnight. Traders challenge the USDA’s soybean carryout estimates. Soybeans lead overnight gains by gapping higher from yesterday’s strong close, as it was confirmed yesterday afternoon that China and the US will roll back tariffs likely ahead of the President. Trump’s visit to China is set to arrive on March 31,…
The grain trade has mixed price action overnight after yesterday’s WASDE crop report. We have a mixed trade this morning as the market has already put the February WASDE behind it, with little difficulty. The report delivered nothing unexpected and generated minimal follow through. On the domestic balance sheet, USDA adjusted corn exports higher by…
USDA WASDE Grain Stocks Report 2/10/26 The report is slightly friendly to corn, both domestically and in its estimate of the Brazilian crop.
Here comes turnaround Tuesday. Can it hold through the day session? Turnaround Tuesday showed up on time early this morning, as the grain trade has a firm footing heading into today’s WASDE crop report out at 11:00 a.m. CT. Domestic carryout numbers look to be mostly unchanged, but it’s the world balance sheet numbers that…
This morning’s grain trade is lightly mixed as it consolidates last week’s gains. The overnight grain trade was softer, as the market consolidated last week’s strong gains. Yet by morning trade was mixed at the end of the night session. The US dollar is weaker by $0.60 and back below 97.00 while gold and silver…
Overnight grain trade consolidates recent sharp advance for the week. Strong weekly chart closes are in the works if the trade just consolidates this week’s excitement. The grain trade consolidated yesterday’s sharp gains, with mixed trading overnight. The night session trading was lower, but by morning, soybeans reached new highs above Wednesday’s spike high. The…
Soybeans recovered back above 11.00 overnight, with the grain trade still not convinced of more substantial sales Grain futures had soybeans adding back to its gains overnight, putting it back over 11.00 after Pres. Trump’s announcement yesterday that China would buy another eight MMTs of beans this crop year. Logistics of adding 294 Mil Bu…
Grains retreat from Tuesday’s bounce in price. The grain trade had experienced a firm start in the night session, but as the session progressed, prices eroded. Soybeans drifted as what was supposed to be widely scattered showers developed into a rain-producing thunderstorm in the region of Southern Cordoba/Northern La Pampa into Western Buenos Aires province,…
Turnaround Tuesday did show up, led by soybeans. As I deduced in yesterday’s newsletter, a turnaround Tuesday was highly probable today, with soybean oil and soybeans getting a boost from a positive crush number yesterday. Not only was the crush just above expectations, but soybean oil stocks were revised lower back in the November numbers….
The grain trade slips below Friday’s lows but holds amid ongoing outside market influences. The grain trade pushed lower on Friday with the chaos and concern that the new potential Federal Reserve chair, Kevin Warsh, may be a fiscal hawk, unfounded for now, but it’s the momentum that goes with it. This selling continued overnight…
