Corn finds follow-through buying from yesterday’s strong close This morning’s grain trade has a firm corn market, with yesterday marking the third-largest weekly export sales number on record. The trade is mixed on wheat, while soybeans soften. Bean oil has continued to weaken since last week’s euphoric high, as the EPA movement for reallocating SREs…
Canada released its crop numbers this morning. Futures are trading in a narrow, mixed range this morning as the market awaits fresh direction. With little new information available, traders are focused on actual harvest data rather than adjusting positions based on crop estimates. Tomorrow marks the first notice day for September contracts, and with a…
The grain trade softens overnight. Grain trade is under pressure this morning, with wheat leading the weakness. Soybeans are trying to find support as weather models continue to indicate a dry finish to the growing season. While no significant soybean production losses are expected, given current balance sheets, the complex cannot afford yield losses of…
Beans bounce on hopeful trade talks. Grains are mixed this morning, while soybeans get another firm bounce as the Wall Street Journal put out a story that a senior Chinese Trade Negotiator will be traveling to meet with US officials later this week. Speculation is that the visit is related to a desire by the…
Grains are starting the week firm The grain trade is starting out with a firm start for the week. The trade is digesting the smaller yield estimates from the Pro Farmer crop tour than what we had from the latest USDA WASDE report. This reduction has only elevated market disagreements on US crop potential. While…
Cattle On Feed On Feed: 98.4% vs 98.1% estimatePlaced: 93.9% vs 91.2% estimateMarketed: 94.3% vs 94.1% estimate Placement number slightly negative to pre-report estimates.
EPA to make SRE announcement today. Wheat and corn ended the overnight session trading in a mixed, mostly steady range, while soybeans continued to climb, setting new highs in their recovery trend. Much of the strength in the soy complex was sparked by a sharp increase in export basis yesterday, which signaled improving demand. At…
Big exports are meeting a big crop. Futures are higher this morning with grain on the plus side. Fresh news is light this morning, as it has been all week. Crop tour results continue to point out good yields, but not the level needed to reach current USDA production estimates. More cases of corn disease…
Grains are mixed to start the morning. It’s a mixed morning for trading, wheat again pushed to a new low by a few pennies, just to recover to settle out mixed in the morning. Meanwhile, corn and beans are fractionally softer. The Pro Farmer crop tour continues to find big yields, which is unsurprising. Though…
Turnaround Tuesday is softening the corn price. This morning’s grain trade is mostly lower, with corn turning softer after a four-day bounce, while beans are also starting to relax. Soybeans are finding support from a soybean meal market that continues to see the exodus of a massive index short position caught on the wrong side…
