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…
Grain markets follow the pattern of selling sharply lower after crop report. Grain futures overnight did the classic sell off sharply the day after a USDA crop report. They are 100%, 6 for6, with last night’s overnight double-digit selling losses. But there is another statistic behind that, 100% of the time on the last 5…
USDA WASDE 6/10/21 Report was friendly corn and wheat and negative beans.
Grains higher overnight on concerning Midwest weather. A mostly higher night session except for Chicago wheat, as a drier/warmer weather pattern for the Central US becomes concerning. Heading into today’s USDA crop production data at 11 AM, traders lean slightly bearish on wheat while friendly corn and neutral soybeans. Expectations are for US corn exports…
Buy the December corn at 6.00 or better with a 583 stop. December corn retreated overnight to major moving average support and held the Sunday night gap. What has been consistent as of late, is markets rise at night and get sold during the day, or decline at night and get bought during the day…
Dakota rains lead overnight grain price decline. Grain futures turned sharply lower overnight as the driest areas of the Central US, most notably Western and Central Dakotas, received several widespread thunderstorm clusters from Tuesday into the early morning hours of Wednesday. The heaviest rain dropped across the Western Dakotas with amounts of .2-1.25″ with lighter…
Disappointing crop ratings lift grain prices overnight. Grain futures recovered overnight on disappointing crop ratings and reductions to Northern Plains precip expectations. The question is, does the grain trade sell overnight strength when it gets reopened at 8:30? Heavy rains in the South Eastern part of North Dakota were the only soaking rains experienced, with…
