Mexico will take GMO corn for feed and industrial use. Grain futures are mixed this morning, with corn finding support on yesterday afternoon’s announcement from Mexico that they will take US GMO corn in January 2024 for livestock feed and industrial use (this was a highly anticipated outcome). However, they still will hold fast to…
Grain futures softened overnight on better-than-expected Argentine rainfall Soybeans and meal pushed new calendar highs overnight after the opening but quickly retreated as the rains forecasted for Monday-Wednesday got underway in Buenos Aires. Rainfall overnight continues to break out, and now updated weather models have increased rain totals to .5-3.00” for total accumulation in the…
Wheat and corn rally triggered by Russian oil cut The Algos are running on todays headlines.The question is if it is creating a sell opportunity, as it’s in Russia’s best interest to maintain the grain corridor? Read attached link:https://www.farmprogress.com/markets-and-quotes/morning-market-review
Soybeans are at risk of a lower week-over-week close. Grain futures are mostly higher this morning, led by the French wheat trade advancing as French milling wheat recovers back to its early week highs. Soybean futures are moderately higher as soybean meal reversed overnight gains when Russia announced they were cutting crude oil production by…
Soybean prices rebound on weather model shift Grain values chopped overnight, trading two-sided ranges, with soybeans traversing a $0.22 trading range as overnight rallies from reduced rain in the Argentine weather model allowed soybeans to get within two cents of Sunday night’s high. The US dollar weakened overnight after the sharp rally experienced since last…
USDA Report 2/8/23 Argentine corn and soybeans were slightly friendly to USDA data while US soybean carryout grew more than expected due to a 15 mil bushel cut in crush.
USDA WASDE report out at 11:00 today. Grain futures reacted higher last night, with Kansas City wheat besting the December 30 high by a penny before retreating on news that Russia is complaining that the Ukraine Grain Corridor is not working properly. By that, Russian Deputy Foreign Minister Alexander Grushko explained that too much grain…
