CPI comes in above expectations at 9.1%. This grain futures were mostly higher after a sharply mixed overnight session but turned abruptly lower after the release of the CPI at 7:30 a.m., coming in at 9.1% year over year, the hottest inflation in 40 years. This pushed the US dollar back to the week’s highs…
USDA WASDE Report 7/12/22 All stocks data is slightly negative to pre-report estimates
USDA WASDE Report 7/12/22 All stocks data is slightly negative to pre-report estimates
Macro trading pushes commodities lower. Grain futures had opened firm overnight on crop ratings which were less than expected in the EU forecast that was drier than midday GFS models. But that ended overnight, as the US dollar bolted to new highs over 108.00, and the euro collapsed to near parity with the dollar for…
Grain future bolt higher on concerning weather. Grain futures opened Sunday night sharply higher on threatening the US and European weather. Both crop areas are forecasted to have hot/dry weather, with dryness in Europe extending into Ukraine, threatening row crops in both regions of the northern hemisphere. Extreme heat moves into the US Plains and…
Wheat prices lead overnight gains. Grain futures are higher while soybeans are mixed, heading into the last day of the week. A strong recovery from Wednesday’s wipe out has corn lower by a couple of pennies on the week, soybeans softer by over a dime, while wheat pricing is still $0.20 lower on the week…
Grain futures are sharply higher from potential significant lows. Grain futures are sharply higher this morning, recovering from extreme liquidation that has been taking place since early June and likely formed significant lows post-July 4th holiday. A shift from recessionary fears has focused back on heat and dryness that is forecasted to return to grain-producing…
It’s a Turn-around Tuesday on a Wednesday. After a mixed night session, grain futures are higher this morning (Turn-around Tuesday’s style on a Wednesday) as the massive rain, and recession washout culminated after a three-day weekend yesterday. The fear of a global recession and the technical selling of index funds exiting the grain trade has…
Mixed start for the post-Holiday start. Grain markets anticipate a mixed start, with wheat anticipated 10-20 cents higher on the strength of French milling wheat and active world exports over the past three days, while corn and soybeans are expected 3-5 cents lower. Ongoing widely scattered showers and lack of significant heat throughout the Midwest…
The EU lowers its wheat crop size. Grain futures are mixed this morning after yesterday’s massive selling in wheat and corn, while soybeans softened after being the week’s biggest gainer. Wheat futures are mounting a small recovery as the EU cut its wheat crop estimate by 5.4 MMTs to 125 MMTs, which excludes Durum due…
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