Expected planting progress has the grain trade lower this morning. This morning’s grain trade is lower across the board as seeding progress came in as expected. US corn seedings at 83%, soybeans at 68%, and spring wheat at 88% through Sunday, which is at the historical averages. The 2024 corn and soybean crops are getting…
Grain futures faded overnight from sharply higher trade. Grain futures opened higher to sharply higher overnight, with wheat futures pushing new calendar-year highs on Monday’s strong French milling wheat rally. Russian wheat crop estimates continue to decline, and rain in the coming 10 days is minimal, with only a few light showers possible late this…
Cattle On Feed On Feed: 99% vs 99.2% estimate Placed: 94% vs 93.9% estimate Marketed: 110% vs 109.8% estimate Cattle on Feed numbers were neutral compared to expectations, market reaction on Monday morning minimal.
Thin volume developing ahead of the Memorial Day weekend. The morning grain trade is mostly firm as overnight Kansas City wheat pressed the new calendar year high again before retreating into the close of the overnight session. The International Grain Counsel lowered their total world grain carryout estimate for 2023-20 24 x 3 MMTs to…
Overnight erratic grain trade ended with a firm outlook. After a two-sided overnight trade, the morning grain trade is firm. Firming Brazilian bean and meal prices are setting soybeans up to challenge last week’s highs. A three-day weekend is ahead, and the weather is full of uncertainty. Black sea weather forecasts are uncertain as the…
Wheat pushes new calendar year highs overnight. Grain prices are firmer this morning, with wheat trading up into double-digit gains overnight on the growing concerns that Russia’s production will be slashed below 80 MMTs if rain does not return to the Black Sea region of East Ukraine, Western Russia in the next 15 days. The…
Turnaround Tuesday kicked at the start of the overnight. Grain futures rolled right into Turnaround Tuesday at the start of the night session after wheat and soybeans challenged last week’s highs but failed to find the momentum to roll through the area. The planting progress through Sunday was slightly better than expected on corn seedings…
Grain prices moved higher overnight led by wheat. Grain prices opened higher last night and pushed higher on world weather concerns and political tensions. The Black Sea drought continues to become initial while historical flooding across Río Grande do Sul in southern Brazil and excessive rainfall in the Central US have traders’ attention. Gold surged…
Grain prices traded higher overnight, led by spot soybeans. The overnight grain trade moved higher as the market added weather premium to prices heading into the weekend. World weather is directing values, with traders trying to figure out what normal weather looks like so far during the spring of 2024. Black Sea forecast offers a…
Spec trade: Buy a December corn at the market, 482.4 with a 474.4 stop.
