Grain futures are mixed Thursday morning. Row crop futures softened overnight after a three-day recovery rally that had corn and soybeans challenging their 50 in near 100-day moving averages. Technical resistance caused a pause in overnight trade. Wheat futures firmed along with French milling wheat as the recent break sparks new end-user interest after a…
Grain futures lower to start Wednesday. Grain futures are mostly lower this morning, with most of the weakness in the winter wheat contracts. After a sharp two-day rally, row crops have rolled into a minor correction as lite to moderate rain fell across N Illinois, with the radar showing showers across Southern Iowa this morning….
Spec Trade: Place a GTC order to exit 2 long Nov Mini-beans at 1344.4 for a $900 gain. Currently at 1336.4.
Grain futures start Tuesday mixed. Grain futures are mixed this morning, as corn and soybeans react to a lower US crop condition rating again, which implies yield potential is drifting again. In contrast, the wheat futures continued their correction following Paris futures lower. The NASS Weekly Crop Condition and Progress report showed a 2% decline…
Crop Condition Ratings Corn ratings gd/ex came in at 60% which is down 2% from last week’s 62%, average guess was an improvement of 1% Bean ratings gd/ex came in at 56%c which is down 1% from last week’s 57%, average guess was an improvement of 1% Crop ratings showed a decline while most were looking…
Grain futures mounted an overnight recovery. Non-US grain/oilseed prices rose last week. Russian fob wheat gained for the 6th consecutive wheat with values at $299/MT fob. Russian President Putin claimed on the weekend that Russian grain production would be 127 MMTs and that there is no supply problem. It appears that Russia is cranking up…
Cattle On Feed and Pro Farmer Estimates 8/20/21 On Feed: 98% vs 98.3% estimatePlaced: 92% vs 93.2% estimateMarketed: 95% vs 96.5% estimate Cattle on feed report friendly to futures price action, look for a firmer start on Monday. Pro Farmer Crop Estimates CornProduction 15.116 B/buYield 177.0/bpa SoybeansProduction 4.436 B/buYield 51.2/bpa Keep…
Here is a quick comment I pulled off of Twitter on the EPA mandate recommending changes from Scott Irwin, Agricultural Economist at the University of Illinois The EPA is looking to align mandates with actual production levels, which have slumped during the coronavirus pandemic. The mandates determine the amount of biofuels that oil refiners must…
Grain futures mixed to start the last trading day of the week. Grain futures are mixed this morning after a higher move overnight, on a recovery in crude oil and index pricing in the evening. Morning declines in crude oil to fresh quarterly lows pulled corn back lower along with soybeans on continued liquidation on…
Spec Trade: Buy 2 Nov Mini Soybeans at the MKT, 1321 last with a 1306 stop.