NOAA issues Drought Expansion Alert. Grain futures were mixed overnight, with row crops firm on concerning weather for next week, especially with the NOAA issuing an unusual Drought Expansion Alert for the Plains, SW, and W Midwest. Wheat continued to drift back to near last week’s lows, on hopes that Ukrainian grain exports may see…
Crash on recession or rally on drought fears. Grain futures again experienced another volatile night session, as sharply higher prices gave way again to the selling vigilantes that show up during the European session after 2:00 a.m., erasing large overnight gains and creating negative losses as we follow the outside market risk-off mentalities. The US…
CPI comes in above expectations at 9.1%. This grain futures were mostly higher after a sharply mixed overnight session but turned abruptly lower after the release of the CPI at 7:30 a.m., coming in at 9.1% year over year, the hottest inflation in 40 years. This pushed the US dollar back to the week’s highs…
USDA WASDE Report 7/12/22 All stocks data is slightly negative to pre-report estimates
USDA WASDE Report 7/12/22 All stocks data is slightly negative to pre-report estimates
Macro trading pushes commodities lower. Grain futures had opened firm overnight on crop ratings which were less than expected in the EU forecast that was drier than midday GFS models. But that ended overnight, as the US dollar bolted to new highs over 108.00, and the euro collapsed to near parity with the dollar for…
Grain future bolt higher on concerning weather. Grain futures opened Sunday night sharply higher on threatening the US and European weather. Both crop areas are forecasted to have hot/dry weather, with dryness in Europe extending into Ukraine, threatening row crops in both regions of the northern hemisphere. Extreme heat moves into the US Plains and…
Wheat prices lead overnight gains. Grain futures are higher while soybeans are mixed, heading into the last day of the week. A strong recovery from Wednesday’s wipe out has corn lower by a couple of pennies on the week, soybeans softer by over a dime, while wheat pricing is still $0.20 lower on the week…
Grain futures are sharply higher from potential significant lows. Grain futures are sharply higher this morning, recovering from extreme liquidation that has been taking place since early June and likely formed significant lows post-July 4th holiday. A shift from recessionary fears has focused back on heat and dryness that is forecasted to return to grain-producing…
