Grain futures trade lower overnight on China tensions. Grain futures opened higher last night on concerning heat for this week but were sandbagged and sold on a higher start with a large drop lower as political talks between the US/China have become tense. China called US/China relations at a stalemate. China has presented the US…
Cattle On Feed 7/23/21 On Feed: 99% vs 99.0% estimatePlaced: 93% vs 95.9% estimateMarketed: 103% vs 102.1% estimate Cattle Inventory Report: All Cattle and Calves: 99%* vs 99.5% estimateCalf Crop: 100%* vs 99.6% estimateTotal Cows and Heifers: 99%* vs 99.3% estimate*USDA rounds to the nearest percentage point Cattle on feed report bullish on…
Another weather weekend ahead. Grain futures were mixed overnight, with spring wheat again leading the recovery, with corn and soybeans ending slightly to moderately lower. There is no question that the heat/dryness will have sliding US crop ratings on Monday, and it’s likely into the following week. The market continues to look for saving grace…
The 11-15 day EU weather model suggests rain. From the opening tick of the evening session, grain futures tumbled into a sharply lower session, as the hint of the 11-15 day ensemble for the EU weather model suggested moisture at the opening of August. Algorithm computer systems kicked in and sold relentlessly, irrelevant to what…
Concerning heat keeps overnight grain prices firm. Grain futures pressed higher overnight, with Minneapolis wheat finding continued profit-taking and spread unwinding after failure to take out Sunday nights 944.4 high from Monday’s devastating crop condition ratings. Soybean struggled overnight on news that the Biden Administration may delay the biofuel mandate announcement for 2021 and 2022….
Grain futures recover back to Sunday nights highs. With the outside markets stable today and not creating a negative influence, grain futures opened firm last night and traded sharply higher row crop ratings that barely showed improvement after last week’s cooler temperatures and rains. Spring wheat ratings collapsed historical lows to register an 11% GD/EX…
Crop Condition Ratings Corn ratings gd/ex came in at 65% which is unchanged from last week’s 65% trade was estimating 66% Bean ratings gd/ex came in at 60% which is up 1% from last week’s 59% MWE ratings gd/ex came in at 11% which is down 5% from last week’s 16%, trade was estimating 15%…
Spring leads grains higher overnight with new contract highs. Grain futures opened higher overnight on the warmer and dryer forecast for this week, with crops in the N Plains and the W Midwest having limited soil moisture due to the ongoing drought and will not endure the coming heat/dryness very well. Yet, E Midwest and…