Pres. Trump’s Truth Social posting Sunday night had soybeans exploding above $10.00. What started as a normal soft opening in the Sunday night trade for grains turned into an explosive rally for soybeans after 10 PM. Trump posted on social media that China has a shortage of beans, and the US will be glad to…
Wheat and soybean prices this morning are higher on the week if the grain trade doesn’t change that by today’s close. This morning’s grain trade is mixed with wheat maintaining yesterday’s gains while corn and soybeans drift slightly from yesterday’s higher closing on demand. Export sales were well above expectations for corn at over three…
Short covering dominates after yesterday’s corn reversal. Grain futures are higher this morning after corn’s impressive reversal on Wednesday, breaking below 4.00 and closing at its high for the day. Export sales out this morning were impressive, with new crop corn over 3 MMTs and wheat at 737,800 MTs. Short covering is occuring ahead of…
Soybeans firm on recovering soybean oil. This morning’s grain trade has firmer soybeans, following soybean oil rebounding as crude oil gains nearly $1.00. Pres. Trump has escalated his threats to India that he will raise their tariffs if they continue to buy Russian crude oil. The deadline is fast approaching for Russia to produce a…
Soybeans challenged $10.00 despite high yield guesses. This morning’s grain trade is mixed/higher with soybeans leading the recovery. After StoneX released its highly expected large yield, and did not disappoint, they put out a yield of 188.1 BPA on corn and 53.6 BPA for beans. The market had already anticipated a high corn yield, so…
OPEC increases oil production over the weekend. Grains are mixed this morning, with wheat turning slightly higher on a weakening US dollar that continues to soften from Friday’s jobs number. French milling wheat again is firm this morning, up $2.25 a metric ton at $196.75. This will likely cause interest rates to be pushed lower…
It’s the first trading day of the month, and tariffs are underway. A mostly softer trade overnight with beans and wheat in the lows of where they ended July, while corn maintains moderate strength off the July lows. The calendar flipped to August, but so far, it has not brought buyers to the market. The…
A soft tone greets the last trading day of the month. Futures were narrowly mixed overnight, with month-end positioning being a primary focal point. The August contracts went into delivery overnight, and numbers were mostly as expected. Soybean deliveries were a little lighter than anticipated, which is positive. The fresh news is very thin this…
Grain prices continue to slip lower this week seasonally. Grain prices are mixed to softer as attention remains on the weather and the finish of the growing season. Heat is breaking down across the Corn Belt, and rains are following it. Severe storms hit parts of the Midwest overnight, causing localized crop damage. While this…
The grain trade awaits China’s 90-day extension due out during market hours. The grain trade is softer this morning, with wheat doing the give up, as French milling wheat retreats from yesterday’s gains, and US values follow suit. Meanwhile, corn and soybeans hold a penny loss. Yesterday’s crop ratings had corn dipping 73% from the…
