Wheat ratings did not decline, leading to overnight price losses. This morning’s grain trade is lower across the board, with wheat prices leading the decline. Yesterday afternoon’s crop ratings showed wheat staying even with last week’s 56% good/excellent compared to 27% a year ago. There is concern over continued dryness in the S Plains along…
The grain trade starts the week out with HRW wheat leading. Grain futures are firmer this morning on low volume, with HRW wheat leading the advance. Dryness in the Plains, Canada, E Ukraine, and Russia prove supportive. Meanwhile, stagnant heavy rain continues in the Delta and E Midwest. Little to no rain is forecasted elsewhere…
Russian export difficulties support wheat and corn. Grain futures are firmer this morning led by the wheat trade. According to Bloomberg, Russia’s Ag watchdog agency was holding up a couple of Egyptian grain ships waiting to export their cargoes. This is said to be connected to TD RIF. This morning, Reuters reported two grain cargoes…
A softer grain trade except for the hard wheat. This morning’s grain trade is softer; after yesterday’s rally, trends are hard to maintain in our slop-chop-pop markets. EU and GFS models have trended a little dryer across the Southern and Western Plains next week, throwing a bit of support into the Kansas wheat trade while…
Soybean oil again leads overnight strength following palm oil. After yesterday’s selloff, this morning’s grain trade is moderately higher by a few pennies. Kansas City wheat reflects a near $0.10 recovery gain as importers use the recent break to finalize some old crop supply coverage. Palm oil gapped higher again last night, throwing support to…
Soybean oil leads to mild soybean strength overnight. This morning’s grain trade is mixed, with soybean oil showing strong gains and supporting soybeans. Palm oil pushed to new yearly highs, and yesterday’s oilseed crush report showed stocks lower than expected. Meanwhile, wheat futures softened as European wheat trading returned, and US wheat crop ratings are…
A new week and month has grains mixed at the start. This morning, there is a mixed grain trade, the reverse of Friday’s strength, as wheat softened with moisture in the HRW wheat area, putting extra pressure on Kansas City wheat. Russia did release some phytosanitary certificates for RIF/Grain Flour to release a few vessels…
Hogs and Pigs Report All Hogs and Pigs as of March 1st: 101 vs 100 estimates Kept For Breeding: 98 vs 96.5 estimates Kept For Marketing: 101 vs 100.3 estimates Pig report is Bearish look for sharply lower hogs Monday morning.
USDA Report 3/28/24 Data was friendly to corn estimates and neutral to beans but total acreage has been reduced from last year.