MWE
Spec trade: Day order, Buy a September MWE wheat at 826.2 with an 809 stop. Trending support is at 820-826.
Morning Update 6/29/21
Spec trade: Day order, Buy a September MWE wheat at 826.2 with an 809 stop. Trending support is at 820-826.
Crop Condition Ratings 6/28/21
Crop Condition Ratings Corn ratings gd/ex came in at 64% vs 67% est. which was down from last weeks 65% Bean ratings gd/ex came in at 60% which was the average estimate, even with last weeks 60% MWE ratings gd/ex came in at 20% down from a 25% est. and down from last weeks 25%…
Morning Update 6/28/21
Again spring wheat leads overnight grain rally. Wheat futures opened higher overnight with row crop prices mixed. Then a strong rally developed throughout the night as the North American forecast showed a drier and warmer weather forecast continuing to be offered in the northern Plains and NW Midwest into mid-July. Crops in this area are…
Sell July MWE
Cattle On Feed 6/25/21 On Feed: 98% vs 100.6% estimate Placed: 98% vs 95% estimate Marketed: 98% vs 123.4% estimate Mostly neutral compared to pre-report estimates.
Cattle On Feed Report 6/25/21
Cattle On Feed 6/25/21 On Feed: 100% vs 100.6% estimate Placed: 93% vs 95% estimate Marketed: 123% vs 123.4% estimate Report mostly neutral with a friendlier outlook towards feeder cattle.
Market Volatility from Biofuel Court Decision
Market Volatility from Biofuel Court Decision Supreme Court rules for refineries request for waivers from biofuel mandates. Sent soybean oil tumbling, dragging soybeans lower as well. Support held. Today’s Supreme Court decision merely gives this and future Administration’s more freedom to do waivers, but it doesn’t dictate things. Question now is, how will the Biden…
Morning Update 6/25/21
Spring wheat leads overnight price strength. Grain futures mainly moved higher overnight, with corn drifting in the early morning session. Overnight strength was tied to follow-through buying from yesterday’s midmorning recovery and close. Corn and soybeans yesterday held key support values, as China booked another 5 to 7 cargoes of beans, and there is talk…
Hog Report 6/24/21
Hogs and Pigs Report All Hogs and Pigs: 98% vs 97.7% estimate Kept for Breeding: 98% vs 98.9% estimate Kept for Market: 98% vs 97.6% estimate Mostly neutral compared to pre-report estimates.
Morning Update 6/24/21
Grain futures sharply lower overnight at the start of big rains. Grain futures moved sharply lower overnight, even dragging Minneapolis wheat lower briefly in its wake. Minneapolis jumped $0.15 off of its lows into the night session close. Soaking rains are starting across the Midwest as expected and anticipated to be off and on for…