Grain futures continue their post crop report rally. Grain futures pushed higher overnight, with corn and wheat exceeding Tuesday’s highs, providing more evidence that the Friday, September 10 crop report low is giving the appearance of a harvest low, with end-user buying evident. Expanding US export demand for corn/soybeans, stout spot cash market bids, and…
Turn-around Tuesday in the overnight trade on wheat cuts. Grain futures moved higher overnight, capturing their Turnaround-Tuesday (adding to grains which closed near the better levels of the session on Monday though still lower) led by a cut in the French wheat crop. The French Farm Ministry cut their wheat crop estimate to 36.06 MMTs,…
Post crop report selling returns overnight. Grain futures start started overnight mixed to firmer, and turned week throughout the evening. Since the first of the year, there have been 11 USDA crop reports, which 9 of them finding immediate selling the day after the report. Friday’s crop report will be the 12th, with today making…
USDA WASDE Report 9/10/21 Report was slightly negative but end-users are buying into the market creating a firm tone.
Spec trade: Place a buy stop on a Dec corn at 518.2. Use a 5 cent stop if filled on trade. The bearishness is so pervasive, a friendly number will create a sharp up move. If filled, use a 5 cent stop.
USDA Crop Production report out today. Grain futures experienced a mostly firm overnight session after becoming severely oversold ahead of today’s September USDA crop report out at 11 AM CT. Progress in restoring the US Gulf export capacity is quickly coming into place. ADM announced that it will restart two export facilities (Ama and Reserve)…
FSA makes an accidental early release. Grain futures resumed the ongoing bearish trend overnight, with wheat and corn making new lows while soybeans continue to hold last week’s lows. The bearish price attitude continues over the concerns of Gulf export closures persisting even though yesterday Entergy reported that 90% of New Orleans has power and…
Spec Trade: Buy March Corn at the MKT, 522.6 last with a 516 stop. Entergy will have power up in 2 days.
Corn and soybeans find stability. Corn and soybean futures again mounted a mild bounce overnight, as there is growing hope that of the 12 export facilities in the Gulf that several will receive power before the end of the week. Slowly, Gulf elevators will be brought back up in the next week, but it will…
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