Equity and energy markets pull prices lower. Grain futures were lower overnight, succumbing to the large selloff in equity markets and energy futures that tumbled late Thursday into Thursday evening. The heavy selling affected the grain complex which trades 10% of the volume per hour versus day session, making it easy to setback. However, recovery…
The two-day wheat rally pauses. Grain futures are mixed this morning after the wheat’s sharp Tuesday/Wednesday rally, with wheat pricing stalling and soybeans firmer. The markets are digesting the logistics of a potential reduction in wheat and corn exports out of Ukraine if military action was to commence. There is also the likelihood that this…
Ukraine/Russian tensions return. Grain futures were sharply higher overnight, with futures following through from Tuesday’s substantial wheat gains and soybeans taking back the remainder of Monday’s losses. SA weather forecasts are taking some rain from what was a generous forecast for S Brazil/central Argentine over the coming week. Wheat futures found strength on renewed rumors…
Grain futures follow Europe pricing. Grain futures are following European action with wheat prices higher, while corn and soybeans setback on South American rains that are starting to fall. Light showers of under .40” fell in key areas of central Argentina and far southern Brazil with an active precipitation pattern to linger into the coming…
Markets closed on Monday. Grain futures are mixed after a mostly lower evening session. Corn futures found renewed buying at the 50-day MA on concerns of a sharp fall in South American corn production. Talk continues to grow that the Argentine corn crop will likely end up no larger than 42-44 MMT’s compared to early season…
USDA crop report sets grain trade defensive. Grain futures are lower across the board this morning, in the classic sell the grains after crop report day style, this was prevalent last year from the first crop report of the year through June. Forecasts of rain in the next week has the market hopeful of some…
USDA crop report 1/12/22 Data was mostly negative for US carryout numbers but friendly for South American production
USDA crop report out today at 11:00 AM Grain prices are softer Wednesday morning ahead of the USDA crop production data out at 11:00 a.m. Part of the concern is that the USDA is always slow in reflecting damage that is likely inflicted to the South American crop as of January 1. This can produce…
