The grain trade turns lower overnight after mild overnight strength. Grains are under pressure due to a lack of interest from managed money and the absence of a bullish story. Both US and global corn and wheat crops are experiencing stress, but yield loss is difficult to determine at this stage. For corn, the US…
Wheat ends the night steady-firm, while corn and soybeans are soft after a three-day rally. Corn, soybeans, and wheat trended lower overnight as the buying interest that fueled yesterday’s rebound faded. All three markets tested weekly resistance levels before retreating. One factor behind Thursday’s bounce was the forecast for a ridge setting up across the…
Wheat continues to work on validating a counter-seasonal rally. Grains are posting moderate gains this morning, while soybeans are slightly lower. Yesterday, the market found support from the addition of a risk premium. The US weather is not overly threatening at the moment, but it is far from ideal and does not support current USDA…
Grain prices push higher in the early morning hours. Will the trade/(algos) again sell morning strength? Corn, soybeans, and wheat are all trading higher this morning as selling pressure that has weighed on futures is beginning to ease. Futures are approaching oversold territory in the grain markets, and there is little risk premium built into…
Grains turned higher for a Turnaround-Tuesday. Grain futures firmed in the early morning hours after an evening session of lower prices. Follow-through selling from yesterday’s technical close created a slump in the night session as the trade digested crop progress and ratings reports that revealed prospects for reasonable crop production. A bid arrived in the…
The wheat trade leads the overnight strength in grain futures. Grain futures have some strength this morning, with the wheat market leading the overnight gains following increased hostilities between Ukraine and Russia over the weekend. The market is also starting to acknowledge dryness across Canada, parts of Europe, and the Black Sea region, which has…
Soybean oil again weighs on soybean prices. This morning’s grain trade saw firm corn and wheat during the night session, while soybeans remained under pressure due to losses in soybean oil. Weakness developed in the morning session after President Trump tweeted that China was violating the recently updated tariff rules. This took the momentum out…
The grain trade had a volatile evening session. The grain trade opened higher last night following news that a Federal Trade Judge blocked President Trump’s reciprocal tariffs, stating he did not have the authority to implement them. The White House has already appealed the ruling to the Appellate Court and has the option to take…
Corn and wheat prices try to lead overnight strength. This morning’s grain trade is mixed, with wheat and corn showing small gains while soybeans have slipped to trendline support. Grains are finding support from the weekly Crop Progress report, which showed lower than expected ratings for both corn and wheat. U.S. winter wheat ratings slipped…
