Cattle On Feed
Cattle On Feed 9/22/23 On Feed: 97.8% vs 97.7% estimatePlaced: 94.9% vs 93.6% estimateMarketed: 94% vs 94.7% estimate The report was neutral to market expectations with little influence to Monday’s opening.
Morning Update
Short covering the overnight feature in the markets. Grain futures rallied overnight as the commodity/equity world recovered from Thursday’s risk-off session. The yield on the 10-year note reached just under 4.5% from the results of the hawkish comments from the Federal Reserve on Wednesday that rates will be higher for longer. This refocused the marketplace…
Morning Update
Grain prices lower with stocks and commodities on risk-off. Grain futures are lower this morning, along with most commodities, as the US dollar strengthened towards 105.50 on the Federal Reserve’s hawkish comments yesterday. The Fed’s stated stance that rates will stay higher for longer, sent crude oil, along with other inflationary commodities lower. Chairman Powell’s…
Morning Update
Grain prices improve overnight. The morning grain trade is higher this morning, led by wheat, as Russia is back enforcing price floors for wheat at $270/MT FOB. Trade is active today, with Algeria looking to buy Russian and EU wheat and Egypt’s GASC back tendering for a November delivery. Australia’s wheat cash offers continue to…
Morning Update
Grain prices rebound from overnight weakness, with a potential turnaround Tuesday ahead. Grain prices were pushed lower overnight, but early morning short covering has cut losses substantially. Ukrainian officials reported that a bulk carrier departed from Chornomorsk (Black Sea port) for an Asian destination, loaded with a shipment of wheat. The interesting part is that…
Morning Update
Wheat prices drifted overnight after last week’s lift. Prices are lower for wheat this morning and mixed/soft for corn and soybeans, as wheat prices correct last week’s recovery burst. Wheat prices softened on the lack of any threat to Russian export potential while Russia continued to bomb the Ukrainian port of Odessa on Sunday. Also,…
Morning Update
A mixed tone to start Friday ahead of a harvest weekend. This morning’s grain trade is mixed with soybeans softer after a sharp two-day rally. End-users are awaiting harvest to advance to gauge farmers’ marketing patterns. Today, NOPA releases their August Crush Report at 11am CT, analysts are forecasting a soybean crush of 168-169 mbu…
Morning Update
Ukraine continues to inflict damage on Russia. Grain prices ended the morning session mixed with wheat softer while soybeans tried to maintain a firmer trend overnight. For the second consecutive night in a row, Ukraine targeted Russia’s Black Sea fleet and knocked down Russian air defense systems near the town of Yevpatoria overnight. There were…
KC Wheat
KC Wheat getting close to flipping downtrend. A close above 743 could trigger renewed buying interest.
Morning Update
Wheat shorts get their nerves checked on renewed overnight Black Sea military action. Grain futures this morning have wheat leading the recovery, followed by corn, while soybeans trade a few pennies lower. Strength in the wheat overnight came from a rally as Ukraine launched a missile attack on the Russian port of Sevastopol. The port…