Hedge updates: Filled overnight on a 25% sale of Dec Minn wheat at 765, and 25% sale of July Chicago wheat at 680 A recovery bounce from today’s extreme reaction lows following Wednesday night’s disappointment should find a possible Ag package this evening (which is China’s Friday morning). A potential bounce should occur that we…
Grains softened considerably with no announcement yet on a US/Chinese Ag deal. The grain markets softened overnight, with losses accelerating early this morning after no comments were made about agricultural trade in the initial meetings between the US and China overnight. With high open interest loaded up and high expectations, this triggered profit-taking that fed…
KC wheat overnight took out the May 2024 high in trading. Overnight trading ended mix, but the grain trade was all higher in the early morning hours of today, with Kansas July wheat tagging 750 before retreating a dime from gains of just over $0.20 last night. Last night’s high took out the May 2024…
USDA WASDE Crop Report 5/12/26 The report was bullish for new crop wheat and friendly for new crop beans.
It is WASDE crop report day today at 11:00 a.m. CT. Will the USDA acknowledge wheat production losses? It is WASDE crop report day today, and grain futures are pressing higher. Kansas City wheat takes the lead to the upside, as the overall wheat condition report came in 4% lower in the good-to-excellent category than…
The Iranians pull a “Zelinski” The grain trade is higher this morning, as oil prices again pursue the 100.00 mark, as Iran pulled the suspected “Zelinski” and moved the goalposts on the recent peace agreement. Pres. Trump has called this unacceptable, which can mean military actions to pressure Iran into giving up its nuclear ambitions…
The grain trade stabilizes after losses this week. The grain trade has seen the air come out over the past week, with markets giving back some of the inflation concerns as oil softened. Still, some consolidation ahead of the weekend would be understandable (especially since I expect Iran will do a “Zelinski” and blow the…
The grain trade breaks for the third day in a row, and may get blindsided by Iran over the weekend on a deal change. Another lower grain trade again today, as crude oil lets the air back out of the marketplace. Even though oil prices have not violated yesterday’s lows yet, the grain markets will…
Is the Iran/US war ending, or will Iran pull a “Ukraine” in late negotiations and always want more than what was agreed upon? You have heard the news about a possible end to the Iranian/US war to end their nuclear ambitions, at around 2:30 a.m. CT, energies collapsed, after initially weakening earlier Tuesday evening as…
Hard to push back Turnaround-Tuesday after Monday’s gains. It’s Tuesday morning; the Strait of Hormuz is still closed, with 1,550 ships still trapped in the Gulf and only a few transiting out each day. Bear in mind, not one of those ships has any intention of coming back to get more fuel or fertilizer until…
