Wheat futures lead the overnight price. Grain futures had seen strength all night, with wheat futures rising as concerns grew that India would eventually ban wheat exports. Indian wheat yield/collection data as the harvest is 50% complete are already disappointing, with commercial estimates of Indian wheat production possibly as low as 93-97 MMTs. Such a…
Spec Trade: Buy 2 July Chicago mini-wheat at the MKT, 1079 last with a 1045 stop.
India lowers its wheat crop size. Grain futures had a mixed overnight session until early this morning at around 6:00 a.m., when India announced they were lowering their 2022 wheat crop to 105 MMTs, down from their April estimate of 111 MMTs. The recent record heat since March and the taking a toll on the…
Just another Turn-around Tuesday for the grains. Grain futures are on the mend today after yesterday’s first of the month massive risk-off selling tied to the US dollar racing to the highest close in 20 years, along with some holes in the forecast allowing for some planting to get underway this week in some areas….
Grains start the month under selling pressure. Grain futures gap lower overnight, even though the forecast remained cool and damp, the prospects of the crop getting planted beyond 50% within a “reasonable” time of the optimum May 10 date remove the bid for the market, especially with the US dollar furring back up overnight in…
Grains mixed ahead of the last day of trading for the week/month. Soybean futures are higher with corn lower and wheat sharply lower for Kansas City, as the last trading day of the month gets ready for a weekly close as well. Performance by the corn market, given the bullishness of news out there, creates…
Corn and bean prices rise to the high the week. Grain futures were mixed to mostly higher overnight, with wheat prices reversing nighttime losses, as French milling wheat opened firm and pushed to new April highs, pulling wheat prices from $0.10 lower to $0.10 higher on the Chicago wheat contract. Concerns continue to grow over…
Bean oil makes new contract highs last night. Oops, they did it again. Bean oil exploded again to new contract highs in the early morning hours, as Indonesia’s ban will be in place at midnight tonight on the export of refined and bleached palm oil. With the world extremely short of veg oil supplies, Indonesia’s…
Grains are higher to sharply higher after ratings and progress reports. Grain futures opened firm overnight and continued that way to the night session as planting progress for corn was 1% lower than the average guess of 8%, with Illinois making no headway over the past week. We are obviously behind a year ago progress,…
