WASDE 10/12/21
WASDE 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
Buy Dec Wheat
Spec Trade: Buy Dec Chicago Wheat at the MKT, 735 last with a 719 stop.
Morning Update 10/11/21
Grain futures start new week firm. Grain futures started lower Sunday night but quickly found end-user pricing that turned corn, beans, and wheat back higher, as crude oil raced to new 7-year highs over $81.00. European corn and wheat futures moved to new contract highs, with spot corn hitting $7 .38 and wheat $8.50. RBOB…
Cash in long Bean
Spec trade: Cash in the long Jan bean trade at 1268 OB on the re-opening for a $650 gain.
Morning Update 10/8/21
New historical highs seen in commodities overnight. Grain futures were sharply higher overnight, as you can smell the inflation in the air. New historic all-time highs were hit for Malaysian palm oil overnight, along with oats domestically doing the same thing, hitting $6 .36. Cotton also made new contract highs overnight, rallying $ 4.76, hitting…
Morning Update 10/7/21
Grain futures firm overnight. Grain futures firmed overnight after yesterday’s late day selling tied to crude oil prices declining from inventory builds and Russian Pres. Putin announced he would help alleviate Europe’s tight energy situation. It remains to be seen how much of a dent in the crisis Russia can create, but Nord Stream 2…
Morning Update 10/6/21
New historical highs overnight for Malaysian palm oil. Grain futures firmed overnight as palm oil prices moved to new historic highs, cotton trades another limit up to new contract highs at 113.93 up the $5 limit, and canola is ready to challenge its prior summer highs. This has inflation talk circulating with fund managers acutely…
Buy Chi Wheat
Spec Trade: Buy a Dec Chicago at the MKT, 747 last 739 stop.
Morning Update 10/5/21
Soybean oil brings support to soybeans. Grain futures initially worked lower overnight, as StoneX released their crop guesses for October 12, with a 176.6 BPA on corn and 51.3 BPA on soybeans. Wheat futures retreated after an explosive run over the past three sessions and found double-digit losses in the night when French milling wheat…
Morning Update 10/4/21
Weakness overnight has corn and wheat finding support. Grain futures were lower overnight, awaiting the US trade representatives Katherine Tai’s announcements today on how the Biden administration will approach upcoming bilateral trade talks with China. China is behind on Phase 1 Agreement purchases with three months remaining in the current agreement for this year. China…