Welcome to Turnaround-Tuesday with a firm morning grain trade. The grain trade is jumping in Turnaround-Tuesday style after a Friday-Monday break in price. Recovery is in low volume as heat is still manifested in southern Argentina, which awaits meaningful rains, which are always on the horizon in the forecast. Planting progress for Matto Grosso’s second…
Grain trade starts the week sharply lower. Grain futures opened lower Sunday night on rain showers that were dieting southern Brazil and Argentine crop areas and a threat that Pres. Trump was going to impose tariffs on Columbia as that country and turned away to US plains that carried undocumented migrants. The trade improved moderately…
Cattle On Feed On Feed: 99% vs 99.6% estimate Placed: 97% vs 100% estimate Marketed: 101% vs 101.3% estimate Report Friendly to pre-report estimates a should offer a higher start on Monday’s opening.
Argentina lowers export taxes. The grain trade opened lower Thursday night on the news that Argentina was dropping its grain and oilseed export taxes starting Monday and carrying through June. The bulk of the weakness in the night trading range was developed in the first 15 minutes of the session. Argentina announced that they will…
Argentina to cut export taxes. Negative to grain prices.
Export sales are delayed until Friday morning. After a weak overnight session, this morning’s grain trade has found firming in row crops. Weakness developed as confirmation from yesterday about issues we discussed in Tuesday’s comments regarding possible restrictions on Brazilian bean importers were taking place. Five separate exporting entities, including ADM Brazil and Cargill Brazil,…
Wheat shows small gains again this morning after yesterday’s strong gains. After an initial soft overnight grain trade, President Trump stated during a press interview that he may start out with a 10% tariff on China by February 1 (not really a surprise and less than ever anticipated). However, as early morning hours came, the…
Soybeans lead the overnight grain charge to the upside. This morning’s grain trade has sharply higher soybeans, with wheat and corn also gaining. Less-than-promised rains over the Argentine region that need moisture and the absence of any Trump tariffs against China have the grain trade in full buy mode. Corn is producing its highest spot…
The markets will be closed Monday for Martin Luther King Day and reopen Monday evening at 7:00 p.m. Grain futures are firmer this morning, with corn and soybeans finding a bounce overnight as the Buenos Aires Exchange on Thursday afternoon released their crop ratings, and the soy crop was rated at a low 32% good/excellent…
Weather models flip from dryer yesterday noon in Argentina to wetter overnight. This morning’s grain trade is lower on corn and sharply lower on soybeans and wheat as yesterday’s pre-noon forecast was pulling rain for Argentine this weekend but then put them back in again in the evening and overnight. The 8-15 day window models for…
