Bean Oil
Spec Trade: Buy a March Bean Oil at the MKT, 57.40 last with a 56.28 stop.
Morning Update 1/4/22
Turn-around Tuesday is underway. This morning, grain futures are firmer across the board as row crop futures are firmer on the continued degrading South American soybean and corn crops. Yesterday, StoneX reduced the Brazilian soybean crop by 11 MMT’s from the December crop report, but other commercial crop estimates are even lower. Some estimates suggest…
Morning Update 1/3/22
Renewed concerns for SA production. Grain futures moved higher to sharply higher overnight, adding premium back to row crops from the continued threatening South American weather pattern. Last week’s rains were considered more of a sporadic event during a drought with continued dry weather to plague southern Brazil and Argentina and rising temperatures. A few…
Morning Update 12/31/21
It’s the last trading day of the year. Grain futures are mixed this morning, with stability noted after yesterday’s large declines. It is the year’s last trading day, with volume likely receding quickly after mid-morning. Grains do close at regular time and reopen Sunday night with full-day trading on Monday. Argentina has reported that his…
Gold Profits
Spec trade: Take profits on 2 long Feb Micro-Gold at 1833 GTC. $800 gain if filled. Major resistance at 1836-1839.
Buy Bean Oil
Spec Trade: Buy March Bean Oil at the MKT, 55.94 last with a 54.98 stop.
Morning Update 12/30/21
Soybeans lead overnight sell-off. Grain futures worked lower overnight, led by the soybeans, as rain moved southward into northern MGDS/Sao Paula/N Parana overnight, bringing rains of 1-2”. The heavier rains were more of a localized event. This weekend, there is still the potential of rains in these same areas. Otherwise, there is no change in…
KC Wheat
KC wheat futures find support at long-term trendline. Kansas City wheat futures this morning bounced off of major technical support. We will try to buy a minor intraday retreat with stops under 809.
Morning Update 12/29/21
Selling in commodities continues into mid-week. Technical selling developed overnight across the grain board from corn and soybeans making new six-month highs early Tuesday morning and closing near the session’s lows. This is prompting profit-taking, technical selling with the end of the tax year three days away. Significant gains seen in commodities over the past…
Bean Trade
Spec Trade: Buy a March Bean at 1358.4 with a 1341 stop. (Sunday night low at 1342.4)