Grains traded mixed overnight with beans lower. Grain futures were lower most of the evening with strength resurfacing in wheat, with French milling wheat overnight pushing to new September highs, and corn futures firming on the crude oil push back to the continuation price highs near 77.00. Strength in the US dollar is noted with…
Grain futures produced a mixed trade overnight. It was a mixed overnight grain session to start the week out, with both sides of unchanged traded the grain commodities. The volume of overnight trade was light compared to recent months, with the September USDA Stocks report due out this Thursday. Interesting is hedge pressure was not…
Cattle On Feed and Hogs and Pigs Report On Feed: 98.5% vs 98.1% estimatePlaced: 102.3% vs 99.5% estimateMarketed: 99.6% vs 99.8% estimate Cattle on feed report was negative to price action compared to pre-report expectations. Hogs and Pigs Report All Hogs: 96% vs…
Grain futures soften ahead of harvest weekend. Grain futures were lower overnight, as corn and soybeans head into a big harvest weekend with extra hedge pressure anticipated on a Friday. Wheat was softer on profit-taking after charging higher almost $0.40 on the Kansas City wheat contract since the Tuesday low. Renewed concerns are developing as…
Malaysian palm oil makes new contract highs overnight. Wheat and soybeans were higher overnight, with bean oil leading the way for soybeans. November Malaysian palm oil futures went to new contract highs overnight to 4,553 RM/MT, lifting beans higher for the 3rd session of the row since the new September low score Tuesday morning. Corn…
Oats limit up overnight. Grain futures firmed overnight, as Chinese trading over Evergrande was not the disaster that was feared. Oats went up the $0.25 limit overnight, prompting the old saying “oats knows,” reminiscent of the 80s to early 2000 price moves. The Shanghai Composite and the Shenzhen opened 1% lower following China’s 2-day holiday…
Markets stabilize overnight on Evergrande worries. Grain futures found mixed results overnight but stability overall, unlike the Sunday evening session. Part of corn’s mild weakness overnight is tied to its 1% rise in the US corn GD/EX rating, while world veg oil prices firmed and supported beans. The US corn/soybean ratings gain came from Illinois,…
Default concerns of Chinese real estate group prompts massive selling. The financial and commodity world went risk-off overnight, with stock indexes sharply lower, with Dow Jones down almost 700 points, energies, softs, and grains were lower, with livestock probably included today, as concerns over the default of Evergrande Group, the largest property developer in China,…
