Harvest pressure and slow exports soften grains overnight. Grain prices drifted lower overnight on the advancing of the US harvest, along with the dim export demand outlook. Exorbitant Gulf FOB offers continue to keep exports trimmed. A large rise in bean oil prices overnight on follow-through buying from yesterday’s reduced oil stocks in the crush…
Harvest is in full gear, with Australian wheat quality at risk. The overnight grain trade featured selling in the row crops with ongoing heavy harvest, while wheat futures found support on a very wet Eastern Australian forecast for heavy rain as their harvest gets near. Harvest hedge pressure is now at its peak while export…
Grain Corridor under discussion to continue. Grain prices are under pressure today with harvest back in focus and conversations that the Black Sea Grain Corridor has a chance to be extended. The US dollar is also trading back near 113.00 as the UK struggles again with the end of its emergency bond-buying program, putting downward…
CPI comes in hot, creating risk-off with higher interest rates coming. After a push higher Wednesday evening when China’s market opened at 8 PM CT our time, grain futures turned lower and are sharply lower in some cases this morning as the national “sell grain after crop report” day is here. The US dollar is…
USDA Report Report was bullish for soybeans, neutral for corn and slightly negative for wheat. They lowered bean production more than expected and lowered exports across the board.
USDA Crop Report Day. Grain prices are lower this morning ahead of the October crop production report, with a small declining yield anticipated for corn. Still, a more significant concern is what the USDA does with exports, as sales are far behind the pace needed to achieve the present balance sheet expectations. The data is…
Turn-around Tuesday on schedule. Turnaround Tuesday found its way into the grain trade overnight, as yesterday’s strong upside performance was checked with spot corn stumbling over $7.00 and wheat prices pushing new highs for the fall uptrend before catching another selling spree. Putin is still launching missiles into Ukraine but not as escalated as over…
Spec Trade: Take a $1,500 profit on March corn at the MKT, 714 last, which is a 78% retracement of the June high.
Russian bombing in Ukraine intensifies. Grain futures are sharply higher this morning as Russia has mounted a counteroffensive in retaliation for Ukraine’s attack and destruction of the Kerch bridge that connects Russia/Crimea. This has speculation growing that the Safe Grain Corridor will not be extended, while the UN is voicing confidence that they can broker…
Spec Trade: Buy 2 Dec Mini-Wheat at the MKT, 882 last with a 853 stop.
