This morning’s grain trade will have soybean oil sharply higher while soybean meal will be lower. This morning’s grain trade will have an interesting take on soybean products. A sharp reversal of Wednesday’s action will occur as Indonesia will install their B40 biodiesel blends on January 1, which will have soybean oil sharply higher. Conversely,…
Grains closed today at regular time and will not reopen until Friday morning at 8:30 a.m. CDT. The corn and soybean markets are showing some signs of strength this morning, while wheat seems more influenced by spread action ahead of delivery than anything. The front month is trying to trade higher, but weakness is seen…
Grain futures firm despite Trump’s tariff talks. Grain futures started mixed overnight, but we saw wheat and soybeans advance in a “sell-the-rumor, buy-the-fact” type mentality as the evening progressed. Late in the day yesterday, we got our first shot of tariff talk from President-Elect Trump since the election. Trump posted on his Truth Social website…
Spread action flips overnight with soybeans firm and grain softer. This morning’s grain trade reversed last week’s action via spreading. Soybeans are bought, while wheat and corn are sold. We are heading for the first notice day for the December grain contracts, which is Friday, and liquidation is noted on the December corn and wheat….
Will Russia/Ukraine have issues again over the weekend? This morning’s grain trade has turned firmer after a soft trade, with the US dollar pushing to a new 13-month high of 108.07 before retreating half its gains. Despite the dollar’s strength, gold pushed over 2700, while bitcoin challenged 99,500. We could see a short-covering day today,…
Russia launches an ICBM with conventional weapons. This morning’s grain trade had seen wheat post the strength overnight as Russia used an Intercontinental missile to make a strike on Ukraine. Traders are working to determine whether the escalation between Russia and Ukraine is severe enough to disrupt grain production or trade out of the region,…
Soybean oil leads overnight weakness. The grain trade was softer overnight, led by soybeans. On its pullback, soybean oil pressed new November lows as palm oil prices also retreated. China appears to be slowing its soybean purchasing pace, with its early January coverage nearly filled. Cheaper soybean FOB offers from Brazil are garnering demand for…
Again wheat prices lead overnight grain strength. Light grain strength overnight continued for wheat as Black Sea war tensions expanded. Overnight news surfaced indicating that Ukraine launched its first Western made long-range missiles into Russia that hit an ammunition dump. News that the Biden administration has approved the use of Western-made long-range weapons on Russian…
A mixed trade to start this week’s activity. This morning’s grain trade is mixed with soybeans lower, led by a retreat in Malaysian Palm oil pricing, with wheat firmer as tensions rise in the Black Sea region with Russia launching attacks into Ukraine with its largest drone and missile attacks on their electrical grid. 120…
Soybean oil leads overnight recovery trade. This morning’s grain trade offers a bounce, led by soybean oil, as world oil values recover from a week’s worth of selling. Obviously, the sentiment remains negative towards grains as traders point to Trump’s threat of blanket tariffs and excellent growing conditions in South America as reasons to be…
