Beans bounce on hopeful trade talks. Grains are mixed this morning, while soybeans get another firm bounce as the Wall Street Journal put out a story that a senior Chinese Trade Negotiator will be traveling to meet with US officials later this week. Speculation is that the visit is related to a desire by the…
Grains are starting the week firm The grain trade is starting out with a firm start for the week. The trade is digesting the smaller yield estimates from the Pro Farmer crop tour than what we had from the latest USDA WASDE report. This reduction has only elevated market disagreements on US crop potential. While…
Cattle On Feed On Feed: 98.4% vs 98.1% estimatePlaced: 93.9% vs 91.2% estimateMarketed: 94.3% vs 94.1% estimate Placement number slightly negative to pre-report estimates.
EPA to make SRE announcement today. Wheat and corn ended the overnight session trading in a mixed, mostly steady range, while soybeans continued to climb, setting new highs in their recovery trend. Much of the strength in the soy complex was sparked by a sharp increase in export basis yesterday, which signaled improving demand. At…
Big exports are meeting a big crop. Futures are higher this morning with grain on the plus side. Fresh news is light this morning, as it has been all week. Crop tour results continue to point out good yields, but not the level needed to reach current USDA production estimates. More cases of corn disease…
Grains are mixed to start the morning. It’s a mixed morning for trading, wheat again pushed to a new low by a few pennies, just to recover to settle out mixed in the morning. Meanwhile, corn and beans are fractionally softer. The Pro Farmer crop tour continues to find big yields, which is unsurprising. Though…
Turnaround Tuesday is softening the corn price. This morning’s grain trade is mostly lower, with corn turning softer after a four-day bounce, while beans are also starting to relax. Soybeans are finding support from a soybean meal market that continues to see the exodus of a massive index short position caught on the wrong side…
The Pro Farmer tour starts today Futures opened the week on the defensive, with grains and oilseeds posting moderate declines. Much of the pressure comes from correcting last week’s rally, with the soy complex taking the brunt of the losses. Support for soybeans comes from Friday’s stronger-than-expected NOPA crush report—July crush volumes reached a six-month…
December corn trades back above 400 overnight after this week’s large corn production number. This morning’s grain trade is higher, with December corn trading over 400 despite the USDA’s big, beautiful 16.742 billion bushel corn crop forecast. Demand is the focus, and the world stocks to use for corn is 9.2%. It’s not exactly comfy…
The grain trade relaxes from yesterday’s price rise. Profit-taking emerged in the overnight trade, which came as little surprise after yesterday’s strong rally. The soy complex in particular had logged two consecutive sessions of gains. Fundamentally, little has changed in the market since Tuesday’s WASDE release. U.S. weather remains less than ideal, with additional reports…
