Turnaround Tuesday from the start of the night session for grains. Grain futures are lower this morning, with soybeans sharply lower after yesterday’s strong close found willing sellers with the soybean ratings higher rather than lower in the afternoon report. Corn crop condition ratings did fall 2% out of the GD/CS category, as expected, but…
Crop Condition Ratings Corn ratings gd/ex came in at 62% which is down 2% from last week’s 64%, slightly better than the average guess. Bean ratings gd/ex came in at 60% which is up 2% from last week’s 58%, slightly bearish to expectations MWE ratings gd/ex came in at 10% which is up 1% from…
Wheat prices move sharply higher on Russian wheat news. Grain futures had a sharply mixed night, with wheat futures pushing sharply higher on winter wheat values as Russia’s private attic analytical firm IKAR dropped their estimate of the 2021 Russian wheat crop to 78.5 MMTs, a 6.5 MMTs decline from the WASDE July forecast. Row…
Spec Trade: Buy 2 Dec Micro-gold at MKT, 1817.3 last with a 1795.0 stop.
Overnights selling gives back yesterday’s gains into month end. Grain futures are lower to start the last trading day of the month, as overnight trade failed to provide follow-through buying, and the market focused on rains falling on the radar across Central South Dakota. As anticipated, there is a forecast for weekend showers across Southern…
Wheat futures lead the overnight price rise. Wheat futures were higher overnight as the 2nd day of the Wheat Quality Tour estimated North Dakota spring wheat yields at 24.6 BPA, down 40% from the five year average and down 42% from the last time the Tour was conducted in 2019. No Spring Wheat Crop Quality…
This is from one of my weather guys, if Iowa gets less than 35% coverage of coming rains they are in trouble.
Grain futures closed firm after low-volume volatile night. Grain futures on a low-volume night opened firm before corn and soybeans fade into the night of showers broke out, as anticipated, in northern Minnesota, pushing corn and beans lower in the night session. But by the 5 AM morning forecast, corn and soybeans reverted higher, following…
Spec Trade: Buy 2 Nov Mini-beans at 1363.4 with a 1329 stop.
Grain futures are starting to see a crack in trendline ability. Grain futures did open higher last night on the declining crop ratings, and despite night selling back to unchanged levels, found re-newed buying in the morning hours. The realization that ratings will be down again next Monday due to the stress inflicted this week…
