Renewed concerns for SA production. Grain futures moved higher to sharply higher overnight, adding premium back to row crops from the continued threatening South American weather pattern. Last week’s rains were considered more of a sporadic event during a drought with continued dry weather to plague southern Brazil and Argentina and rising temperatures. A few…
It’s the last trading day of the year. Grain futures are mixed this morning, with stability noted after yesterday’s large declines. It is the year’s last trading day, with volume likely receding quickly after mid-morning. Grains do close at regular time and reopen Sunday night with full-day trading on Monday. Argentina has reported that his…
Spec trade: Take profits on 2 long Feb Micro-Gold at 1833 GTC. $800 gain if filled. Major resistance at 1836-1839.
Spec Trade: Buy March Bean Oil at the MKT, 55.94 last with a 54.98 stop.
Soybeans lead overnight sell-off. Grain futures worked lower overnight, led by the soybeans, as rain moved southward into northern MGDS/Sao Paula/N Parana overnight, bringing rains of 1-2”. The heavier rains were more of a localized event. This weekend, there is still the potential of rains in these same areas. Otherwise, there is no change in…
Selling in commodities continues into mid-week. Technical selling developed overnight across the grain board from corn and soybeans making new six-month highs early Tuesday morning and closing near the session’s lows. This is prompting profit-taking, technical selling with the end of the tax year three days away. Significant gains seen in commodities over the past…
Spec Trade: Buy a March Bean at 1358.4 with a 1341 stop. (Sunday night low at 1342.4)
Turn-around Tuesday gets rolling in the morning hours. Row crop futures pushed sharply higher overnight for soybeans and higher for corn, while wheat struggled due to yesterday’s poor technical performance. Adverse South American weather continues to draw money in from index funds that want to own hard assets. Turn-around Tuesday kicked in by the morning…
Grain futures start last the week of the year higher. Overnight grain futures pressed higher after the Christmas holiday break, as the stagnant and persistent weather pattern in South America continues. Rains in northern Brazil, while southern Brazil and Argentina remain mostly dry with rising temperatures. Rainfall across the drought areas over the holiday weekend…
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