Bullish CPI this morning firms grains. Grain futures are higher this morning after a mixed overnight performance. CPI released this morning for October showed consumer prices rising more than expected. This lifted gold through the summer highs and helped crude oil recover an overnight selloff with inflation buying back into the grain complex this AM….
USDA WASDE Report 11/9/21 Report bullish Beans neutral-friendly Corn and Wheat
USDA crop report out at 11:00 AM CT today. Grain futures found short-covering overnight ahead of Tuesday’s USDA crop production report, with soybeans still struggling with the concern that production data and reduction in exports will push the carry out near 400 Mil. The fact that the bean market has collapsed so hard sets up…
A mostly mixed grain session to start the week. Grain futures are mostly lower this morning, after a mixed overnight session. Soybeans are leading the decline with the concerns of Tuesday’s November USDA crop report anticipating a yield and carry-out increase. What’s interesting is the November data is typically tamed, but due to the fact…
World wheat values do not participate in US grain price decline. Grain futures stabilized overnight with wheat trying to find leadership from European world values, as French milling wheat was higher overnight and did not participate in yesterday’s price decline. Corn futures traded stable while soybeans drifted back to yesterday’s lows on disappointing Chinese buying….
Spec Trade: Buy 1 March Corn at the MKT 568.4 last with a 561.6 stop.
Spec Trade: Buy a Dec KC wheat at 793.2 with a 783.6 stop. Day order.
Mixed trade to start Thursday. After two days of sharp declines, corn and wheat short covered overnight, while soybeans are doing the reverse, having seen strength over the past two sessions and now weakening, soybean meal stalled at $340, with the disappointment of bean exports to China and current concerns for next Tuesday’s potential yield…
No new contract highs overnight. Grain futures stalled overnight, as technical reversal trading yesterday is finding follow-through selling interest. Export data considered routine in tomorrow’s export sales data on Thursday will also be routine without significant export surprises. Pre-hedging ahead of next Tuesday’s NASS crop production data is becoming prevalent with rising yields for corn…
New historical highs overnight for French Milling wheat. Grain futures pushed higher again overnight, in what has become typical, weakness in the night session reverses when French milling wheat opens in the night session and then moves higher. French milling wheat made new all-time highs overnight, trading at $297/MT, with the 2008 high having been…
