Mixed trade to start Turnaround-Tuesday. The grain trade is mixed with row crops slightly firmer on slipping crop ratings, while wheat remains soft with the ongoing harvest. The grain trade closes on Wednesday for the new federal holiday, while the non-US grain futures markets will stay open and trade electronically. Trade can become choppy with…
Friday’s week close spills into Sunday night. This morning’s grain trade is sharply lower for wheat and soybeans, with selling seasonal and chart-based weakness on Friday. Markets are closed on Wednesday for a federal holiday, and many question why, which creates a stacking of trades with two-day trends traded twice this week. The NOPA May…
The first weather weekend is on the way. This morning, grain prices are relaxing from yesterday’s rally as winter wheat prices continue to extend their losses. The strength in the US dollar yesterday continued today, with the dollar up $0.51 at 105.32. Trading weather gyrations is becoming the norm as we enter the weather market…
The grain trade recovers on potential heat/dryness setting in. This morning’s grain trade is firmer, with corn leading the gains. CONAB released their data this morning, trimming the Brazilian crop by 340,000 MTs but raising the corn crop by 2.5 MMTs. Meanwhile, the focus remains on the US heat heading for the Central US in…
USDA Report 6/12/24 Domestic carry-outs were mostly near trade estimates mean while South American production was not lowered as anticipated again.
The June WASDE report is out today. This morning’s grain trade is mixed with wheat stumbling again on yesterday’s sharp gains getting corrected while row crops firm on coming extreme heat heading for the Midwest that produces above/much above temperatures and below normal rainfall into June 26. USDA’s reports at 11:00 a.m. CT will feature…
The grain trade starts Turnaround-Tuesday mixed. This morning’s grain trade is mostly mixed as we await the June WASDE crop report out Wednesday at 11:00 a.m. The big focus is going to be the US when wheat production, with traders anticipating increases, will also move right into carryout numbers as a favorable May weather forecast…
A mixed grain trade to start the week. This morning’s grain trade is firmer on row crops as Brazilian farmers are holding grain on the new tax. The US Central weather forecast reflects dry and warm temperatures in the 10-15-day forecast. Wheat futures are softer ahead of Wednesday’s WASDE crop report, anticipating an increase in…
Turkey bans wheat imports for four months. Grain prices are lower this morning, led by wheat, as Turkey, Russia’s second-largest wheat importer, stated that it would halt wheat imports to stabilize their domestic market and reduce a more favorable landscape for its producers. That news pressured French milling wheat heavily, currently down $7.00 at 244.25,…
Thursday’s grain trade starting out higher. This morning’s grain trade is finding a firmer start after a week’s worth of selling pressure since May 28. A pattern shift to a warmer/drier Midwest forecast in the hands of the coming summer weather is creating a pause in the aggressive selling and allowing for pondering that high…