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Spec Trade: Buy a July KC Wheat at the MKT, 1085 last with a 1042 stop below Tuesdays gap.

CONAB lowers bean production and raises corn. Grain futures were softer overnight, while soybeans were firm ahead of this morning’s CONAB report out of Brazil. CONAB estimated the Brazilian crop at 122.4 MMTs while raising corn production to 215.6 MMTs. The numbers were in line with early estimates, but the corn crop is still an…

Grains correct two days of sharp gains. After a two-day sharp grain rally to start the week, a corrective mode stalls out the grains overnight, as you have to feed a bull every day. Thursday at 6:00 a.m., Brazil’s CONAB releases their keep production updates, and then Friday is the monthly USDA/WASDA crop production and…

Spec Trade: Buy a May KC Wheat at 1061.2 with a 1038 stop. The gap is the risk.

Wheat lifts the grain complex overnight. Grain futures reacted sharply higher to the first NASS wheat crop condition report showing only 30% of the 2022 winter wheat crop rated GD/EX, with 36% of the crop in the poor/very poor category. This is the second-lowest initial US winter wheat crop on record and was a bullish…

Grain futures recover overnight on renewed war premium and weather concerns. Grain futures started firm overnight and moved sharply higher on the same news they ended with last Friday in a slump. Weather remains dry in the southern plains with today’s NASS start of national wheat crop ratings, which are expected to be poor, along…

Wheat futures start new month higher on weather concerns. This morning, grain futures have lower soybeans, consistent with yesterday’s selling from the very stocks and acreage data. At the same time, new crop corn remains firm, and wheat futures are taking over new friendly leadership with concern is now on April 1 about the dry…

Prospective Planting Report 3/31/22 Report was friendly for corn and wheat but bearish for soybeans on stocks and acreage data.

Crude Oil declines on potential increased SPR releases. Grain futures started steady overnight, but corn and soybeans went under selling pressure from a sharp drop in crude oil. The Biden administration announced it was contemplating the sale of 1 Mil barrels/day from the US strategic reserve to fight inflation. This proposal would allow for 180…

The Hogs and Pigs Report All Hogs and Pigs as of March 1st: 100% vs 100.2 estimates  Kept For Breeding: 100% vs 100.5 estimates  Kept For Marketing: 100% vs 100.2 estimates  The report was as neutral as you could get.