Turnaround -Tuesday is elusive. Grain futures tried a minor Turnaround-Tuesday on the evening start, but that quickly gave way to further liquidation selling as risk-off became the theme for metals, energies, and equities overnight. Large-scale speculative investment interest remains absent as the Chinese yuan drifts to a 15-year low to the dollar. Yesterday’s progress reports…
Grain prices trend lower Sunday night to start the week. Grain futures opened soft Sunday evening and stayed that way throughout the night as the US dollar firmed off trendline support that was challenged on Friday and an overall lack of any new supply threats. Soybeans had double-digit losses as Pres. Xi of China was…
Cattle On Feed On Feed: 99% vs 99.1% estimate Placed: 96% vs 96.4% estimate Marketed: 104% vs 104% estimate Cattle on Feed report is neutral.
Harvest pressure and strength in the US dollar weaken the grain trade overnight. Grain futures are lower to sharply lower across the board this morning, as yesterday’s short covering run in soybean meal along with the four-day rush to the upside in soybean oil came to an end with less than spectacular technical closes Thursday….
Grain prices recover from oversold conditions. Wheat prices gained a dime overnight as Argentina Rosario GRAIN Exchange trimmed the wheat crop by another 1 MMTs to 15 MMTs. The USDA has Argentina projected at 17.5. This will likely reduce their exports to 9.0-9.5 MMTs which should be the lowest since 2014. Meanwhile, further rainfall impacts…
A section of the Mississippi is closed overnight. Grain futures are mixed overnight, with corn and soybeans lower on the closing of a section of the Mississippi, dimming exports along with improved rain chances for Argentina in the coming week. Wheat futures bounced as world values found support from the recent price collapse, as Russia’s…
Harvest pressure and slow exports soften grains overnight. Grain prices drifted lower overnight on the advancing of the US harvest, along with the dim export demand outlook. Exorbitant Gulf FOB offers continue to keep exports trimmed. A large rise in bean oil prices overnight on follow-through buying from yesterday’s reduced oil stocks in the crush…
Harvest is in full gear, with Australian wheat quality at risk. The overnight grain trade featured selling in the row crops with ongoing heavy harvest, while wheat futures found support on a very wet Eastern Australian forecast for heavy rain as their harvest gets near. Harvest hedge pressure is now at its peak while export…
Grain Corridor under discussion to continue. Grain prices are under pressure today with harvest back in focus and conversations that the Black Sea Grain Corridor has a chance to be extended. The US dollar is also trading back near 113.00 as the UK struggles again with the end of its emergency bond-buying program, putting downward…
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