Crop ratings lift spring wheat prices. Overnight, grain futures started higher, with spring wheat sharply higher on the decline in ratings and a collapse in the spring wheat ratings. The lower ratings were met with eager selling on row crop pricing. The forecast for soaking rainfall in Iowa/Illinois has ratings that will be stabilized/slightly improved…
Crop Condition Ratings Corn ratings gd/ex came in at 65% vs 66% est. which was down from last weeks 68% Bean ratings gd/ex came in at 60% which was the average estimate, down from last weeks 62% MWE ratings gd/ex came in at 27% down from a 35% est. and down from last weeks 37%…
A sharply lower overnight trade on Midwest rains. Grain futures came in sharply lower overnight on weekend rains for Iowa, Illinois, Wisconsin arrived. Several rounds of rain occurred across the Central US on the weekend, with severe weather producing considerable storm damage of downed corn and hail stripped crops. Some estimates have damaged crops in…
Grain futures posted sharp overnight recovery. Grain futures recovered sharply higher overnight with no follow-through selling on the reopening. The realization is that the coming rains will not be enough to break the ongoing dryness across the Western Midwest corn belt, with temps to return to above normal by the end of June. Thursday’s price…
Sharply lower overnight grain trade on increasing rainfall potential. Grain futures tumbled sharply lower overnight, as all weather models added some amount of rain to their respective 10-day forecasts, with the GFS remaining the wettest. Some light and unexpected showers were also noted across Iowa overnight which sparked further liquidation. There were a few T…
Volatile trading night with flipping weather models. Grain futures started higher in the night session, but night time weather models flipped markets before recovering into the early morning hours. The dry European forecast model that was released Tuesday afternoon (after CBT closed) prompted the higher start. When the overnight US GFS forecast model added rain…
Volatile trading night with flipping weather models. Grain futures started higher in the night session, but night time weather models flipped markets before recovering into the early morning hours. The dry European forecast model that was released Tuesday afternoon (after CBT closed) prompted the higher start. When the overnight US GFS forecast model added rain…
Spec Trade: Buy Dec corn at MKT, 562 last with a 557.4 stop exit 571
Grain prices erode premiums on potential weekend rain. Grain futures opened higher overnight on declined ratings. Still, they immediately started to extract premium’s again as the euro evening forecasts continue to show a chance of Midwest rains this coming Sunday. The forecast models are apart on coming Midwest rainfall totals due to the uncertainty of…
Grain futures collapse on hint of long-term weather model change. A sharp reversal of attitudes in the grain market created a collapse in pricing overnight. The market focused on a cooler and slightly wetter 9-14 day forecast versus the oncoming warm, dry pattern for this week. Whether interaction with a potential tropical system in the…