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…
Grains keep climbing, and feeder cattle should trade today. The grain market followed through overnight with further gains, with soybeans again pushing double-digit strength on improving trade relations with China. But we still have not seen details of the framework with China. The bottom line is that if they buy any soybeans, it is more than…
The current grain rally anticipates a Chinese/US trade resolution in two weeks. Grain futures got a boost overnight as it appears we have a framework for a trade deal with China that hopefully will be agreed to later this week when President Xi and President Trump meet. The trade deal has soybeans doing the heavy…
The current grain rally anticipates a Chinese/US trade resolution in two weeks. A quiet mixed price in grains as we come into Friday morning, ahead of the weekend. November options expire today with first notice day next Friday on November soybeans. This morning, global trade is back in the spotlight after President Trump canceled a…
Hope builds for a Chinese resolution next week. Cattle lose their tariff support. Grains are firmer this morning, as we suggested in yesterday’s newsletter. Late afternoon trading in crude oil pushed sharply higher on the announcement of extreme sanctions against Russia’s main oil industry, which would at least lend support to the grains, which were…
The board remains firm despite harvest pressure. Market Update Morning Grain & Livestock Update Quick read market color and key levels Grains This morning, the grain market is firmer again, led by the friendly soybean market. After brief rain delays in some areas this week, harvest should be moving forward through the weekend, with the…
Chinese hopes support soybeans overnight. The overnight trade had soybeans maintaining strength from yesterday’s strong close on hopes of a Chinese breakthrough with the President. Trump’s recent comments that soybeans are at the top of his list currently, alongside other affected minerals, such as rare earth minerals, in his discussions with the President. Xi of…
Soybeans lead overnight gains. Grain prices spent most of the evening higher, with wheat and corn eventually turning slightly softer at the end of the morning session, while meal posted solid gains on further yield reports that continue to diminish. Also, Farm Journal conducted a survey and found that disease in dry conditions was very…
