Cattle On Feed On Feed: 99% vs 99.0% estimatePlaced: 104% vs 98.5% estimateMarketed: 100% vs 100.5% estimate Placement number considered negative to pre-report estimates. Anticipate a $1.00-2.00 lower start on Monday for feeder cattle, dependent on grain movement direction as well.
The grain trade recovers from the week’s heavy selling. Grain futures are recovering Friday morning ahead of the weekend after heavy selling that’s been unleashed on the trade this week. They are reconciling oversold conditions as the EU and Canadian weather models keep in place a pattern of a drier and warmer forecast east of…
The grain trade moves lower at the restart of trade this week. This morning’s grain trade on return to business has wheat trade leading downward pricing with the weakening of the Black Sea cash wheat market. Also, the EU weather model includes moderation in the E Midwest temps beyond the middle of next week, but…
Mixed trade to start Turnaround-Tuesday. The grain trade is mixed with row crops slightly firmer on slipping crop ratings, while wheat remains soft with the ongoing harvest. The grain trade closes on Wednesday for the new federal holiday, while the non-US grain futures markets will stay open and trade electronically. Trade can become choppy with…
Friday’s week close spills into Sunday night. This morning’s grain trade is sharply lower for wheat and soybeans, with selling seasonal and chart-based weakness on Friday. Markets are closed on Wednesday for a federal holiday, and many question why, which creates a stacking of trades with two-day trends traded twice this week. The NOPA May…
The first weather weekend is on the way. This morning, grain prices are relaxing from yesterday’s rally as winter wheat prices continue to extend their losses. The strength in the US dollar yesterday continued today, with the dollar up $0.51 at 105.32. Trading weather gyrations is becoming the norm as we enter the weather market…
The grain trade recovers on potential heat/dryness setting in. This morning’s grain trade is firmer, with corn leading the gains. CONAB released their data this morning, trimming the Brazilian crop by 340,000 MTs but raising the corn crop by 2.5 MMTs. Meanwhile, the focus remains on the US heat heading for the Central US in…
USDA Report 6/12/24 Domestic carry-outs were mostly near trade estimates mean while South American production was not lowered as anticipated again.
The June WASDE report is out today. This morning’s grain trade is mixed with wheat stumbling again on yesterday’s sharp gains getting corrected while row crops firm on coming extreme heat heading for the Midwest that produces above/much above temperatures and below normal rainfall into June 26. USDA’s reports at 11:00 a.m. CT will feature…
