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.
Light trade ahead of today’s USDA report. Today is the USDA Prospective Plantings and Quarterly Stocks Report at 11 a.m. CT. The average trade guess is 91.8 million corn acres, 86.5 million bean acres, and 47.3 million All Wheat acres. These are intentions and will change by June 30. It will be closely monitored if…
Another day of selling continues ahead of Thursday’s reports. The grain trade is softer again this morning as last week’s strength continues to be sold ahead of Thursday’s Stocks and Seedings report. Markets are closed on Good Friday and will reopen on Sunday evening. May corn and beans have fallen below 50-day moving averages ahead…