Wheat and corn recover late in the overnight session. Grain futures were lower overnight, making new calendar year lows, as recession fears soar over more regional banks yesterday reported in trouble, with crude oil nose-diving back below 70.00 this morning. A late morning bounce on wheat and corn occurred on rumors that Russia is again…
Wheat and corn prices give up overnight strength. Grain futures are mixed this morning with wheat and corn softer again while soybeans maintain some strength. Wheat bounced overnight as crop ratings did not show as big of an improvement as anticipated and Egypt tendering for wheat. Soybeans found strength on a record March Oilseed Crush…
It’s May Day, with European countries closed. It’s May Day, and grains are starting out lower for wheat, softer corn with beans near steady. Heavy losses were seen last week, with Friday experiencing short covering with end-of-the-week/end-of-the-month profit-taking. Follow-through buying did not materialize Sunday night, implying any strength is potentially still short covering and not…
Widespread sales of higher ethanol E15 gasoline. The Biden administration has decided to issue an emergency waiver that will allow widespread sales of higher-ethanol E15 gasoline this summer. This is following a strategy used last year to tamp down high pump prices. The announcement is expected to come from EPA today, with the waiver to…
Chicago wheat and bean oil received deliveries. Grain prices stabilized overnight, with soybeans recovering moderately. Deliveries were noted for soybean oil of 199 contracts with Chicago wheat having 854 contracts delivered. There was no corn, soybeans, soymeal, or KC wheat tendered. Chicago SRW wheat is now the cheapest wheat in the world, with June offers…
Grain futures continue the spring break. Grain futures are lower again this morning, with wheat futures reflecting double-digit losses again on the southern plains receiving rain accumulations of 1-3.00” in the past 72 hours, along with Canada showing a large jump in spring wheat acres yesterday of 600,000 acres above average estimates and a 1.3 million…
Stats Canada wheat data bearish expectations. Grain futures are mixed this morning after a from night session, while spring wheat is down 9 cents on the stats Canada crop report this morning that showed All wheat at 26.96 Mil acres, up from the average estimate of 26.3 and 1.5 Mil acres above last year’s 25.4…
Spec trade: Buy a June hog at 88.25 GTC with an 86.15 Stop. MA support should be heavy just under 88.00.
Grain prices mixed/lower despite the weekend freeze and Black Sea concerns. Grain prices are mixed to lower to start the week, despite what was likely some winterkill in HRW/SRW wheat country and concern that Russia will halt the Black Sea Grain Corridor by mid-May. It’s the sharp decline in Brazilian beans still remained weak, with…
Cattle On Feed On Feed: 96% vs 94.8% estimate Placed: 99% vs 94.9% estimate Marketed: 99% vs 98.8% estimate The report is considered slightly bearish based on the placement number.