Hedge recommendation: Consider buying the May 460 Short-dated corn put on 25% production. The market continues to stay pressured from recent contract highs, and this is a cheaper way of getting protection on through the USDA data. The option expires April 23, so it’s essentially just buying insurance to get through the report in case it’s bearish….
Buy a July Minn wheat at the mkt, 628.4 last with a 615 stop.
Low-volume night trade has lower action. Grain futures were lower overnight, in one of the lowest volume trading nights since last fall. Volume plummeted to just 15,000 contracts in corn and 12,000 contracts in soybeans, and these volume numbers were after the export sales data was released, which showed a strong number for corn, but…
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Overnight mixed grain trade extremely low volume. Mixed session overnight, with corn and wheat on the retreat, with soybean finding support from the recovering soybean meal market that continues to stabilize just under $400 a ton. With only 5 1/2 trading sessions till the March 31 Stocks/Seeding’s report, concerning is that the volume in the…
Bean oil rallies to the highest prices in 9 years overnight. May soyoil pushed to a new contract high of $58.25 overnight, following yesterday’s rare limit up close. Midwest cash soyoil basis rose to a new rally high on strong demand from food and ethanol sectors. The overnight high was very near record high prices…
Low volume of overnight trade. Grain futures had a mostly lower evening session, before Malaysian palm oil turned higher after multiple days of correcting in price, turning bean oil higher in the night session by half a dollar which pulled beans back to steady firmer money. Lack of fresh news to stimulate index fund buying…
Cattle On Feed On Feed: 102% vs 101.5% estimate Placed: 98% vs 97.5% estimate Marketed: 98% vs 97.6% estimate Report deemed neutral as it’s very close to previous estimates.
Row crop futures find overnight support. Row crop futures found stability overnight while wheat futures stayed mixed, as stability from yesterday’s large decline came from strong cash markets and end-user pricing. The bulk of yesterday’s selling was tied to fears that the US-China rhetoric at their trade meeting in Anchorage, Alaska, was becoming adversarial. There…
Markets struggling with liquidation and lack of friendly input. A lower night session across the board with only corn trying to find stability, as export sales were strong over the past week for corn in the above expectations of 38.8 Mil Bu fro crop. Weakness in soybeans and wheat is occurring now with the lack…
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