Wheat prices lead overnight weakness After another firm overnight trend, selling gave way overnight, led by wheat. Starting to see position building ahead of Friday’s WASDE update, and with a lack of Chinese buying confirmation, the trade is finding liquidation of recent length in the ongoing play. The U.S. government appears to be nearing a resolution…
Turnaround Tuesday is in play Today is Veterans Day. The day we set aside to honor those who have served our country. Thank you. Turn-around Tuesday is back in play as usual. Significant gains yesterday, getting checked today. As US soybeans are already a high-priced product for importers, yesterday’s strength makes them even more expensive. To…
The government looks to be reopening this week Grain futures opened the week on a firmer note, supported by optimism over the US Senate procedural vote to provide a resolution to the U.S. government shutdown. Broader markets viewed the development as a positive signal for the overall economy, helping lift commodities as well. Gold surged over…
Trump’s tariff repeal has the grain trade on edge. This morning’s grain trade has wheat and corn on the softer side, while soybeans are trying to consolidate and recover from Thursday’s sharp losses. Soybeans are trying to find a footing on the hope that Chinese business will continue according to the trade agreement, whether by continuing…
The market is softening from an early-month high pricing push. Grain futures are soft this morning after advancing into the opening part of the month. The current up run appears to have created a high watermark, prompting a corrective price action. China purchased 120,000 MTs of wheat (one cargo of white wheat and one of…
Soybeans bounce overnight on Chinese tariff reduction for November 10. The soy complex is seeing a moderate recovery this morning after yesterday’s selling proved to be overdone. Much of the pressure on soybeans yesterday came from profit-taking, especially in meal following a $52 rally. Overnight, soybeans retested Monday’s highs after news that China suspended its…
Turnaround-Tuesday is underway row crops today. This morning’s grain trade is seeing profit-taking develop in soybeans and corn for a Turnaround-Tuesday after their spectacular run the past two weeks while wheat is mixed after its recent surge. Yesterday was first trading day of the month, classic for a surge into it to stall. News that…
Grains push new recovery highs overnight for wheat and beans. Corn, soybeans, and wheat are starting the week on firmer footing as light new-month buying emerges. A key driver behind the strength is easing trade tensions with China. After several months of silence, China reportedly purchased seven cargoes of U.S. soybeans last week and showed…
