Wheat softens, while beans recover from a new contract low. It’s another mixed morning, with wheat softer while beans find minor short covering. Speculative selling on the recent rain across the Delta and E Midwest from the remnants of Hurricane Beryl has improved the prospects of corn and soybean yield potential. Soybeans and soymeal hit…
Turn-around Tuesday is having a slow start. A mixed trade this morning with corn and wheat finding penny gains. Yesterday’s release of the “commitment of traders” report showed funds holding a near-record short position of 333,000 contracts as of last Tuesday. It’s possible that after yesterday’s action, they are at 350,000 contracts, which means the…
The grain trade is retreating from last week’s strength. After putting on gains last week across the board, the grain trade is in a sharp retreat to restart the four-week trading. The remnants of Hurricane Beryl are passing to the Delta and Eastern Midwest, providing renewed pressure. Also, the EU model weather forecast has less…
Wheat looks to provide morning strength. Grain futures look for a split opening this morning with wheat called 3-5 cents higher on two-day strength for French milling wheat while corn is mixed and soybeans steady-3 cents lower. Declining world production is meeting US crop improved weather. Rain fell across the E Midwest over the July…
Grains are mixed ahead of today’s one-day close. Grain futures are mixed ahead of the July 4 Independence Day holiday. Markets will close at their regular time today and reopen Friday, July 5 at 830 for a full one-day session. Soy oil futures continue pushing higher again overnight as premiums grow over Indonesia, getting closer…
Turn-around Tuesday with wheat softening and row crops gaining. Turn-around Tuesday is underway, with wheat giving back some of yesterday’s gains while corn and soybeans recover in price. After breaching the soybean oil chart’s 200-day moving average, Soy oil continues to gain, bringing in new technical buying from heavily shorted positions from managed index funds….
A mixed trade for the start of Independence Week. This morning, there was a mixed grain trade as overnight action traversed higher and softer pricing. Weakness in the overnight trade was found to be short-covering interest, while corn continued to see pressure from Friday’s acreage and stock increases. The Black Sea drought continues with this…
USDA Report 6/28/24 Corn and wheat stocks along with corn acreage were negative to pre report estimates, wheat and soybeans acreage friendly to pre-report estimates.
Today is one of the most significant Crop Reports of the year. This morning’s grain trade sees short covering ahead of the NASS Crop Report at 11:00 a.m. Strength in soybeans is developing as the Argentine oilseed crushers workers union SOEA started striking Thursday in protest of President Javier Milei’s proposed economic and labor reform…
Hogs and Pigs Report All Hogs and Pigs: 101.3 vs 101.3 estimates Kept For Breeding: 96.8 vs 97.8 estimates Kept For Marketing: 101.7 vs 101.6 estimates Kept for Breeding number was even lower than expected. Look for the fall and winter contracts to be $1.00-2.00 higher.
