Crop Condition Ratings Corn ratings gd/ex came in at 65% which is unchanged from last week’s 65% trade was estimating 66% Bean ratings gd/ex came in at 60% which is up 1% from last week’s 59% MWE ratings gd/ex came in at 11% which is down 5% from last week’s 16%, trade was estimating 15%…
Spring leads grains higher overnight with new contract highs. Grain futures opened higher overnight on the warmer and dryer forecast for this week, with crops in the N Plains and the W Midwest having limited soil moisture due to the ongoing drought and will not endure the coming heat/dryness very well. Yet, E Midwest and…
Grain prices trade at a new weekly highs overnight. After a mixed overnight trade, corn and soybeans moved higher, following the sharply higher wheat market as the 4:30 A.M. GFS models showed more pronounced heat and continued dryness in the 6-10 day and 11-15 day models. There will be weekend rainfall across the S and…
Overnight grain trade consolidates prior 3 days gains. Grain futures consolidated overnight as rains moved east from Iowa and Minnesota into Illinois, as that is the last of the rain for the North Central corn belt for the next ten days. Lack of producer selling is keeping any setback minimal, and the open interest decline…
Spec trade: Exit the long two Nov mini-beans at 1395 for a $1,000 day trade gain if offered. Trendline resistance is 1400.
Overnight grain futures buck the radar rain. With rains starting in Western Iowa, grain futures moved higher overnight, as concerns about heat and dryness are appearing in the 6-14 day forecast. Nearby rainfall is positive for South Dakota, Nebraska, Minnesota and Iowa but the hot longer-term model threatens crops, as current rain just satisfies current…
Hedge update: Per the Weekend Hedger we are exiting the Short-date corn and bean puts at the MKT. Technical action is implying last week was a low with solid value. Upside potential, though volatile is likely higher from here.
Will the trade turn grain futures lower the day after the crop report? After a mixed overnight session that gave the hint of turn-around Tuesday, grain futures firmed into the close of the morning session. US crop ratings yesterday showed stability following a week of needed rainfall across Iowa and the Central Plains. Stable ratings…
Crop Condition Ratings Corn ratings gd/ex came in at 65% which was unchanged from last week Bean ratings gd/ex came in at 59% even with last weeks rating MWE ratings gd/ex came in at 16% which has a 1 point move from the excellent to the good category Ratings were as pretty much as expected with…
