Markets remain erratic into a 3-day weekend. Grain futures spent most of the evening lower overnight, with soybeans again catching a bid in the morning hours on the continual rising of bids in Brazil, with soybeans higher by another 10-12 cents from Thursday to now being a $1.55 over US values. US soybeans are now…
World events lift grain prices overnight. After the lower Wednesday evening start across the board in the grain complex, wheat futures initially burst higher in the evening after reports that Russia had increased its troop size by 7000, contrary to prior reports of reductions. But it was the report of mortar fire reported to have…
Grain prices find renewed buying interest overnight. The commodity world recovered overnight from yesterday’s thrashing with crude oil lifting over $1.00 barrel, metals firmer, and grain pricing also finding bargain-hunting in the recent sharp decline. However, the three-day weekend coming up will heighten volatility with the never-ending Black Sea political tensions, and potential moisture for…
Grain prices on retreat. Grain futures are lower across the board this morning, as yesterday’s late press to the highs on war rumors in the Black Sea were dashed in the night. Troop movement was noted in the European evening, which was during our noon hour, and many thought it was the push towards escalations….
Grain prices have a volatile Sunday night session. Grain futures ended the night session the opposite direction they started Sunday night. The sharply higher opening had wheat futures gaining $0.20, with soybeans $0.15 higher and corn a nickel before changing direction in the middle of the night. Chances of rain showed up on the GFS…
Grain prices stabilize and recover moderately on firmer world values. After yesterday’s massive selling across the commodity spectrum, grain futures are recovering this morning after new contract highs scored in corn and soybeans yesterday. Monetary policy by the Federal Reserve took on an earnest look after yesterday’s inflationary CPI, with comments that not only was…
Spec trade: Exit the long March corn at 653 OB for a $2130 gain. Exit long March Kansas City wheat at 820 OB for an $800 gain, Should fill at 821. Also, place a GTC ordered to cover the short 760 Kansas City wheat put at a penny for $900 gain. Currently 1 1/2 cents.
CONAB out of Brazil produces low soybean production report. Grain futures pushed to new contract highs for corn and soybeans on a bullish construed CONAB report out of Brazil, with their numerators lowering the crop size to 125.5 MMT’s. This bolted the bean market at 6 AM to challenge the June 2021 highs at 1623…
USDA crop report 2/9/22 All data bearish compared to pre-report estimates. Market action is buying any minimal weakness knowing the USDA is too conservative on it’s data.
