Trump’s tariff repeal has the grain trade on edge. This morning’s grain trade has wheat and corn on the softer side, while soybeans are trying to consolidate and recover from Thursday’s sharp losses. Soybeans are trying to find a footing on the hope that Chinese business will continue according to the trade agreement, whether by continuing…
The market is softening from an early-month high pricing push. Grain futures are soft this morning after advancing into the opening part of the month. The current up run appears to have created a high watermark, prompting a corrective price action. China purchased 120,000 MTs of wheat (one cargo of white wheat and one of…
Soybeans bounce overnight on Chinese tariff reduction for November 10. The soy complex is seeing a moderate recovery this morning after yesterday’s selling proved to be overdone. Much of the pressure on soybeans yesterday came from profit-taking, especially in meal following a $52 rally. Overnight, soybeans retested Monday’s highs after news that China suspended its…
Turnaround-Tuesday is underway row crops today. This morning’s grain trade is seeing profit-taking develop in soybeans and corn for a Turnaround-Tuesday after their spectacular run the past two weeks while wheat is mixed after its recent surge. Yesterday was first trading day of the month, classic for a surge into it to stall. News that…
Grains push new recovery highs overnight for wheat and beans. Corn, soybeans, and wheat are starting the week on firmer footing as light new-month buying emerges. A key driver behind the strength is easing trade tensions with China. After several months of silence, China reportedly purchased seven cargoes of U.S. soybeans last week and showed…
Grains soften as China may take time buying beans. Corn, soybeans, and wheat are under pressure this morning as both pre-weekend and month-end consolidation appear to be guiding trade. The bullish momentum seen earlier this week following the Chinese trade agreement has tapered off, with traders now waiting for concrete details before adjusting positions further. While…
China to buy 12 MMT of beans this year and 25 MMT the next 3 years. It was a wild and woolly night session as overnight grain strength initially faded after testing midweek highs. The momentum collapsed once the U.S.–China meeting concluded without meaningful detail. The market quickly fell into a “buy the rumor, sell the…
Grains stall awaiting the meeting this evening in South Korea. Grain futures are under pressure this morning as profit-taking kicks in after a string of strong sessions. Corn, soybeans, and wheat had recently attracted fresh buying interest, but that momentum has now drawn some weak longs into the market, many of whom are now being…
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