New contract highs overnight for row crops and spring wheat. Grain futures bursted higher overnight after Wednesday’s strong close, making new contract highs for spring wheat and row crops. There was a return in bull spreading in the soy complex amid rising spot crush margins. New crop corn lifted on growing concerns over the cool…
Grain futures trade firm with prior price highs holding. Grain futures had a mixed start overnight that turned into a firm trade, but no contract highs were scored. Lite rains moving across central North Dakota in the early morning hours could not put pressure on the Minneapolis wheat contract as it continued to add gains…
Grain markets recover overnight in Turn-around Tuesday. Grain futures recovered overnight as we continue to flip trends from opening to opening. On Sunday night, the opening was the low, as the market bolted higher in that session. Monday morning, the day session start was the high. Flip that, and the opening of last night was…
Grain futures gapped higher in the overnight session. Grain futures gapped higher overnight on follow-through buying from Friday’s positive technical close. Dryness on the Brazilian corn crop is now creating a universal thought that the Safrina corn crop is likely producing a Brazilian total corn crop under 100 MTs. The only active contracts that made…
Deliveries arrived for soybean oil and beans. Grain futures are starting the last trading day of the month weaker, as deliveries did arrive for soybean oil in the amount of 629 contracts. There were 66 contracts of soybeans tendered against the May futures, which caused weakness initially overnight. That initial weakness was scooped up and…
A mostly quiet night trade session overnight. Grain futures put in a mild recovery overnight led by the May contracts, as two days of selling from contract highs is bringing in bottom picking. Today is the last day of trading for the May contract before they go deliverable on Friday. It’s also anticipated that Friday…
New crop hedge recommendation: There are two ways to approach the hedge, one can be with a fixed hedge to arrive contract (if you can get them done), or the other will be buying short-dated puts and continuing to leave the upside open. Buy the August 550 Short-dated corn put for 35 cents on 35%…
Has December Corn Topped? Even though the moving average is still holding, I do believe Dec corn has topped for awhile.Looking to sell a bounce to 565-570.
Heavy liquidation overnight after Tuesday morning’s high looks substantial. Yesterday’s weak close and the reality of our premium cash prices to the world market values tripped liquidation into the evening session when the volume is not as substantial as the day session. This created wipeout moves with July corn trading down the 25 cent limit…
Grain futures do an early Tuesday morning price flare out. A high volume of overnight trade with May corn pushing the 40 cent limit along with May soyoil up to 2.50 limit. This created the emotional flare out we suggested in the Monday newsletter that could occur early Tuesday morning, as upside volume shoots higher….