Malaysian palm oil makes new contract highs overnight. Wheat and soybeans were higher overnight, with bean oil leading the way for soybeans. November Malaysian palm oil futures went to new contract highs overnight to 4,553 RM/MT, lifting beans higher for the 3rd session of the row since the new September low score Tuesday morning. Corn…
Oats limit up overnight. Grain futures firmed overnight, as Chinese trading over Evergrande was not the disaster that was feared. Oats went up the $0.25 limit overnight, prompting the old saying “oats knows,” reminiscent of the 80s to early 2000 price moves. The Shanghai Composite and the Shenzhen opened 1% lower following China’s 2-day holiday…
Markets stabilize overnight on Evergrande worries. Grain futures found mixed results overnight but stability overall, unlike the Sunday evening session. Part of corn’s mild weakness overnight is tied to its 1% rise in the US corn GD/EX rating, while world veg oil prices firmed and supported beans. The US corn/soybean ratings gain came from Illinois,…
Default concerns of Chinese real estate group prompts massive selling. The financial and commodity world went risk-off overnight, with stock indexes sharply lower, with Dow Jones down almost 700 points, energies, softs, and grains were lower, with livestock probably included today, as concerns over the default of Evergrande Group, the largest property developer in China,…
Row crop prices soften ahead of a big harvest weekend. This morning, a mixed grain trade is featured with wheat firm and row crops soften with the onset of the first large harvest weekend. This is bringing hedge sales into the marketplace, as stated Thursday morning could be a probability. A strong price lift from…
Grain futures end mixed after a firm overnight session. Grain futures pressed higher again overnight, with corn making new monthly price highs and wheat and soybeans challenging early September highs. Grain prices drifted lower towards the end of the night session on lackluster export sales data along with the dollar that firmed on retail sales…
Grain futures continue their post crop report rally. Grain futures pushed higher overnight, with corn and wheat exceeding Tuesday’s highs, providing more evidence that the Friday, September 10 crop report low is giving the appearance of a harvest low, with end-user buying evident. Expanding US export demand for corn/soybeans, stout spot cash market bids, and…
Turn-around Tuesday in the overnight trade on wheat cuts. Grain futures moved higher overnight, capturing their Turnaround-Tuesday (adding to grains which closed near the better levels of the session on Monday though still lower) led by a cut in the French wheat crop. The French Farm Ministry cut their wheat crop estimate to 36.06 MMTs,…