Grains lower overnight from the Brazilian rain forecast but not sharply lower. The overnight grain trade opened lower as anticipated, but after the initial hour, a bid arrived in corn, soybeans, and wheat, and prices improved modestly throughout the night, leaving small losses in corn and soybeans while the wheat trade had turned mixed. The…
US port strike ends, and job numbers are better than expected. This morning’s grain trade is mixed. Wheat and corn continued yesterday’s selloff, while soybeans firmed on spread trading and bean oil, having followed crude oil higher overnight until the jobs data came out this morning. The US dollar firmed after 7:30 this morning, trading above…
The grain trade chooses Thursday to relax early week gains. This morning’s grain trade is softer after three days of relentless buying in the face of harvest. Despite decent export sales numbers this morning, the market is choosing to still relax from recent strength. The corn rally, along with wheat, has started to reveal what we…
European Commission may delay the implementation of EUDR. This morning’s grain trade is broadly mixed. Corn and wheat are higher, while soybeans sink on news that the European Commission might delay its implementation of EUDR by 12 months (prohibiting buying from areas utilizing the four station practices) and improving prospects of rain for Brazil in…
Post-crop report action is mixed this morning. This morning’s grain trade is mixed with wheat firmer while row crops soften post stocks data from Monday. Wheat is firming as Russian FOB wheat rallies have risen to $222/MT for November, helping support the wheat trade, which still carries premiums to Russian values. Meanwhile, soybeans softened on…
USDA Report 9/30/24 Data was friendly for corn and soybeans on the pre-report estimates, slightly negative for wheat.
Row crops soften on hopes of Brazilian rain next week. The overnight trade reversed Friday’s action, with wheat firming as spreads reversed while the soybean market drifts on optimism for moisture next week in Brazil. The warm/dry US harvest weather helped encourage harvest as Hurricane Helene stayed out of some of the southern Midwest, where…
The grain trade softens ahead of another harvest weekend. This morning’s grain trade has wheat softer, with row crops mixed after yesterday’s round of selling from new highs for September was achieved. The N Brazil and W Russian weather issues and managed money short covering into the month and quarter have helped lift grain price…
Hogs and Pigs 9/26/24 All Hogs and Pigs: 100 vs 100.2 estimates Kept For Breeding: 98 vs 97.9 estimates Kept For Marketing: 101 vs 100.4 estimates Report came out mostly neutral to pre-report estimates.
Soybeans advanced to the 100-day MA overnight. This morning, A firmer grain trade for soybeans and wheat as the dryness in N Brazil and W Russia for the next 10-14 days is becoming a concern as those droughts deepen. Brazilian farmers concede soybeans into November, but like last year, tightens the planting window of winter…
