It’s a Turn-around Tuesday on a Wednesday. After a mixed night session, grain futures are higher this morning (Turn-around Tuesday’s style on a Wednesday) as the massive rain, and recession washout culminated after a three-day weekend yesterday. The fear of a global recession and the technical selling of index funds exiting the grain trade has…
Mixed start for the post-Holiday start. Grain markets anticipate a mixed start, with wheat anticipated 10-20 cents higher on the strength of French milling wheat and active world exports over the past three days, while corn and soybeans are expected 3-5 cents lower. Ongoing widely scattered showers and lack of significant heat throughout the Midwest…
The EU lowers its wheat crop size. Grain futures are mixed this morning after yesterday’s massive selling in wheat and corn, while soybeans softened after being the week’s biggest gainer. Wheat futures are mounting a small recovery as the EU cut its wheat crop estimate by 5.4 MMTs to 125 MMTs, which excludes Durum due…
USDA WASDE Report 6/30/22 Stocks data was mostly neutral, while acreage for soybeans was likely experiencing preventative plant shortfalls. Corn was neutral and spring wheat was slightly negative.
The USDA Crop Report is out today at 11:00 AM. Grain futures are lower this morning ahead of today’s June Seeding/Stocks Report at 11:00 a.m. The US dollar has rushed back to the highs of the year, while crude all breaks critical support along with metals and stock indexes all sharply lower to end the…
Wheat leads the overnight price recovery. After a mixed evening session, grain futures pushed higher in the early morning hours, led by wheat. The Egyptian GASC tender will be receiving US SRW wheat in its offers. Egypt’s unusually large three-month period of import interest has included SRW wheat due to the depressed pricing that has…
Turn-around-Tuesday for grains. Grain futures turned higher overnight with wheat finding buying interest from Egypt’s GACS tendering for world optional origin wheat, along with China lowering their Covid restrictions for international travelers. It’s anticipated that China will soon be adjusting its zero Covid control strategy, which could help turn its country out of its economic…
Wheat and soybeans recover from sharp overnight losses. The grain futures tumbled on Sunday night, opening out of the chute with sharp losses initially, with wheat and soybeans finding a bid that quickly recovered, setting them positive on the session by late evening. Soybeans found initial buying at last week’s lows with the upcoming acreage…
Cattle On Feed On Feed: 101% vs 102% estimate Placed: 98% vs 100% estimate Marketed: 102% vs 103% estimate Report is bullish for On Feed and placement numbers compared to pre-report estimates, marketed was slightly less than expected. Expect a sharply higher opening on Monday of at least a dollar due to the depressed nature of the…
