Grains started the week firm but settled for mixed by morning. Grain futures ended their overnight session mixed after a mostly higher performance. Rising US export potential and further short covering in wheat with China purchasing more SRW out of the PNW. It’s becoming apparent now that Australian supply shortages due to drought will force…
Grains continue to strengthen after the WASDE report. Grain futures are higher across the board this morning, follow-through buying after yesterday’s bullishly construed soybean and corn WASDE crop numbers. Crude oil is trading back near the highs of the week as gold and silver surge with Middle East tensions rising. The Israeli military is urging…
USDA Report 10/12/23 Production data was friendly for price on corn and soybeans while the wheat carryout was slightly negative. World soybean carryout was friendly compared to expectations.
WASDE October crop production data out at 11:00 a.m. today. This morning’s grain trade is coming in firm to higher, led by the short covering in soybeans ahead of today’s WASDE report after taking out early week lows and closing near 1250. The trade seems to be set for a non-exciting report, with corn and…
Wheat leads the overnight weakness. Grain prices are softer today after yesterday’s crop progress data. Crop Progress showed corn harvest 34% complete (vs 29% LY), and soybean harvest 43% complete (vs 41% LY). Winter wheat planting is 57% (vs 53% LY). Less important now though is the progress showed corn conditions steady at 53% G/E,…
Grain prices drift on a lack of Monday follow-through buying. Grain prices are lower this morning after disappointing action on Monday’s trade, with corn and soybean not able to catch headwinds from the quick rise in energy prices through the new geopolitical events with Israel/Hamas. Lack of US export demand is being touted ahead of…
Grain prices lifted overnight by a sharp rise in energy values. Grain futures are all higher this morning, led by crude oil, which is up over $3.00 a barrel on the Saturday surprise attack on Israel by Hamas/Palestine terrorists. Israel has declared war on Hamas and has ordered a complete siege of Gaza. The attack…
Corn stalls under 5.00, wheat stalls at 20-day MA. Grain prices are mixed this morning, with soybeans seeing follow-through buying interest from yesterday’s strong close, while wheat and corn retreated after corn challenged 5.00, and wheat challenged the 20-day MA on yesterday’s strength. Due to low Mississippi River water levels, US soybean exports have moved…
Spec trade: Buy two November micro-crude oil at 81.75 GTC with a 78.40 stop. We exited the wheat trade with a $900 profit, don’t forget to cancel your stop.
Corn and soybeans follow oil lower while wheat rises. A mixed morning in the grain trade as soybeans and corn drifted lower on the collapse in crude oil overnight while wheat rallied on more Russian attacks. Ukraine defense officials reported more Russian drone attacks overnight in Odesa, Mykolaiv, and Kirovohrad areas. UK intelligence suggested that…