Happy New Year’s Eve! The last trading day of 2024 is greeted with another overnight rally. Corn is recovering from yesterday’s selling, coming within pennies of the high that brought about another swift bout of farmer selling that is being absorbed ahead of the end of the tax year. Soybean futures are higher, led again…
Overnight weather forecast for Argentina return concerning. Grain futures are higher this morning, with soybeans leading the advance after a soft overnight performance. Light showers occurred over southern Argentina overnight, producing some light rains, but the forecasts for Argentina continue to show near to below-normal rainfall over the next week. Temperatures rise into the 90s…
Corn set for the highest weekly close since mid-June. This morning’s grain trade is mixed, consolidating recent gains on a Friday settlement. If corn can close over 450, this will be the highest spot weekly close since June. Export sales numbers out this morning were considered strong, with soybeans just under 1 MMT and corn…
Markets return to regular time trades for the rest of the week. This morning’s grain trade lacks fresh news, so anticipated openings are mixed. Russia released its 2024 final Russian crop estimate earlier today, and they put the all-grain crop at 125 MMTs and the wheat crop at 82.4 MMTs. The USDA estimated the 24…
Markets are set for a noon-time close today. Merry Christmas Eve Day! A thin holiday trade greets the overnight session, with the market fluctuating from both sides of unchanged. Trade thins out as it prepares for a 12:05 p.m. CT close for grains today and a 12:15 settlement for livestock. Markets reopen at 8:30 a.m….
Hogs and Pigs 12/23/24 All Hogs and Pigs: 101 vs 100.1 estimatesKept For Breeding: 100 vs 100.0 estimatesKept For Marketing: 101 vs 100.1 estimates Report came out slightly negative to pre-report estimates.
Corn recovers to its December highs to start the week. Grain prices were mostly higher overnight, with corn advancing towards the December highs near 450, prompting short-covering in wheat. The strength of soybeans overnight faded after the massive two-day lift in soybean meal stalled. Algeria is tendering for 50,000 MTs of wheat from mid-February into…
Cattle On Feed On Feed: 100% vs 99.7% estimate Placed: 96% vs 94.9% estimate Marketed: 99% vs 98.2% estimate Report mostly neutral to pre-report estimates a should have a minimal affect on Monday’s opening.
Soybeans are higher, having rallied almost $0.30 off Thursday morning’s low. This morning’s grain trade is seeing strength in soybeans as the market has recovered almost $0.30 off the Thursday morning low on rumors that China is buying 500,000 MTs of US beans for March/April delivery. Some believe they’re doing it for political purposes, buying…
This morning’s grain trade is mixed. Soybeans bounced from yesterday’s significant losses, while wheat slipped to new contract lows in Chicago. This morning’s grain trade has wheat futures leading the weakness as they digested the US dollar’s new strength to near 108.00, with the March Chicago wheat contract at a new contract low. The continuation…
