USDA Report
USDA Report 1/12/24 Yield and stock data bearish for corn and soybeans, wheat acreage number was friendly to price.
Morning Update
A higher grain trade heading into the January Crop Report. Grain futures are higher the morning of the January WASDE crop report as tensions build in the Middle East, with crude oil bolting overnight as much as $3.00 as the US/UK attack Houthi Rebels with a large force presence. Rebel Houthi forces vow additional terror…
Morning Update
A mixed grain trade after morning export sales. Row crop prices firmed overnight on short covering, as no new discernible news was prevalent. Wheat prices gave up overnight strength when French milling wheat opened in midmorning trade and softened $1.00 MT. Export sales data this morning revealed a slow pace to the start of new…
Morning Update
A soft trade meets the morning session. The grain trade is starting out softer this morning, with wheat having corrected partially fronts strong recovery pricing yesterday. Yesterday afternoon NASS engaged in its housecleaning of the past five years on its data and made modest adjustments despite a slew of US and state estimates. Even though…
Morning Update
A feeble Turn-around Tuesday tried to get underway overnight. After making new winter price lows for corn, soybeans, and KC wheat, a mild turnaround Tuesday tried to develop overnight. Egypt’s GASC announced a tender (to close today) of an undetermined volume of wheat, Ukraine-origin wheat is the lowest offer so far. According to trade sources,…
Morning Update
Grains trade mixed overnight. Grain futures overnight had seen wheat find some minor support from the Arctic weather scheduled for the Black Sea area along with the Central US next week and the potential stress it brings to the wheat crops. Meanwhile, row crops bled lower on the ongoing expectations of improved South American weather…
Morning Update
Overnight grain trade remained soft. Grain futures retreated overnight as wheat continues to slip, while corn and soybeans retreat some of Wednesday’s gains as trade continues to remain thin. Trading desks are not yet fully populated and will likely not occur until next Monday, when we start the first full week of the year. Next…
Morning Update
Tuesday’s large selling slowed overnight. Grain futures found follow-through selling overnight, but corn and soybeans found support off yesterday’s lows and are recovering some losses in the morning hours. Tuesday’s abrupt selling from the opening price ticket to the close was one of the worst starts for the year in over a decade, as risk-off…
Morning Update
Grains trade turns lower overnight After Sunday night’s mixed opening, grain futures pressed lower as the US dollar firmed, also creating a soft effect for metals and energies. Crude oil is down sharply after Saudi Arabia cut prices to Asian buyers. US oil production is at a record 13.2 Mil barrels/day, making the US the…
Morning Update
It’s the year’s last trading day, with a mixed trade to start The grain trade is mixed this morning with wheat firm while row crops soften unexpected rains for next week. Over this past year, corn prices have declined 30%, wheat 20%, and soybeans 14%. Today the US dollar is set to post the lowest…