Grains mixed to get trade underway for the new week. A mixed trade this morning starts the week as wheat and soybeans try to mount a recovery bounce from Friday’s week-over-week lower close, while corn has the December contract challenging the November reversal low ahead of first notice day on Thursday. Soybeans are finding some…
Grains mixed to softer to get trade underway today. The grain trade will close today at noon, with final settlements at 12:05. This morning’s grain restart is mixed to softer, with steady-3 cents lower on soybeans and steady-1 lower on corn and wheat. This is based on outside markets that had traded softer during our…
Grains mixed ahead of the Thanksgiving Holiday. The grain trade will be closed this evening, through Thursday, and close Thursday evening. The reopening will occur at 8:30 a.m. Friday morning and then close again at noon, with final settlements at 12:05. The overnight grain trade was mixed with soybeans retreating on profit-taking, as rains are…
Lack of Turn-around Tuesday sees higher night trade. Soybeans and corn continued higher overnight, building off of Monday’s strong reversal and close. Heavy rains continue in southern Brazil, weekend rains in the north/central areas are less than forecasted, and rains look scattered this week. Next week looks hot/dry. Macro optimism is giving the CBOT a…
Volatile grain opening after Milei wins Argentine presidential election. Indications last night for the grain futures was initially a higher start, but when it was announced by 6 PM CT time, Right-leaning Javier Milei won the Argentina election by a landslide over the establishment candidate. This caused soybean meal to move sharply lower during the…
Cattle On Feed 11/17/23 On Feed: 102% vs 101.8% estimatePlaced: 104% vs 104.9% estimateMarketed: 97% vs 97.9% estimate The report was steady to better than pre-report estimates.
Grains are lower again to end the week. Grain futures are lower this morning on the anticipation of next week’s rain in N Brazil. The extended range forecast still shows a return of dryness last ridging, but for now, the market is bracing for what accumulations might come to. Soy oil prices are firming as…
Grains trade follow-through weakness overnight. Soybeans were lower overnight, and a classic midweek two-day setback and what is the only bullish trend in the grain complex, while wheat and corn find willing sellers as they failed to break out of recent congestive trends. Soybeans decline is amid the prospect of showers in the northern 2/3’s…
Overnight strength gets checked before the end of the morning session. Grain futures are lower by a penny or two at the end of the night session but had spent most of the night higher. South American weather does offer rain in N Brazil next week, but it’s the damage of the heat this week…