Vegoils turn higher overnight. Grain futures are mixed this morning with soybeans holding psychological $12 and bouncing as rapeseed and canola markets turned sharply higher along with bean oil creating a lift for beans on the crush. Cash rapeseed in Europe is now quoted at $0.80 per pound with anticipation that world soy oil demand…
USDA WASDE Report 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
WASDE 10/12/21 Data slightly negative to pre-report estimates on corn and soybeans, world wheat stocks are lower than expected.
Spec Trade: Buy Dec Chicago Wheat at the MKT, 735 last with a 719 stop.
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…
Spec trade: Cash in the long Jan bean trade at 1268 OB on the re-opening for a $650 gain.
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…
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…
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…
Spec Trade: Buy a Dec Chicago at the MKT, 747 last 739 stop.
