Ukraine grain corridor signed today. It’s been 60 days since the hint of a Ukrainian Safe Grain Corridor was first proposed by the UN, and spot wheat futures have declined by $5.00, soybeans $4.00, and corn $2.00 and are back to pre-Ukrainian invasion values. According to Turkish officials, the anticipated signing is at 8:30 a.m….
Russia turns on Nordstream 1 and oil tumbles. Grain futures had a mixed start Wednesday evening, which turned into a freefall overnight, as crude oil tumbled as much as $5.00 a barrel when Russia restarted Nordstream 1 overnight to full capacity. As oil fell, the whole commodity world moved lower in its wake, with gold…
Grain futures produce a mixed overnight trade. Grain futures produced a mixed overnight session, with wheat futures staging a spectacular recovery on the prospects that the Egyptian wheat tender will be taking US SRW wheat. At the same time, corn and soybeans struggled on the chances of improving moisture next week in the 8-10 day…
Grain prices burdened with seasonal apathy. Grain futures worked lower overnight except for wheat prices that crossed unchanged several times, as Egypt did announce they would accept protein as low as 10.5% in order to receive alternate sources of wheat from the US via SRW wheat being the cheapest in the world presently (Egypt announces…
Heat, GASC tender and will Ukraine/Russia make the deal. Grain futures are sharply higher this morning after a volatile start that found initial selling but recovered in the overnight back to session highs. Concerns for searing heat in the Central US along with Europe, reducing row crop yield potential, and Egypt tendering for wheat, while…
NOAA issues Drought Expansion Alert. Grain futures were mixed overnight, with row crops firm on concerning weather for next week, especially with the NOAA issuing an unusual Drought Expansion Alert for the Plains, SW, and W Midwest. Wheat continued to drift back to near last week’s lows, on hopes that Ukrainian grain exports may see…
Crash on recession or rally on drought fears. Grain futures again experienced another volatile night session, as sharply higher prices gave way again to the selling vigilantes that show up during the European session after 2:00 a.m., erasing large overnight gains and creating negative losses as we follow the outside market risk-off mentalities. The US…
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