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.
Spec trade: Buy a December corn at the market, 482.4 with a 474.4 stop.
Grain prices traded higher overnight, led by wheat. The yo-yo spin in the grain trade continues as farmer selling hits spike rallies, sending grain trade action lower for the day, and the next morning, new strength evolves. Wheat futures recover again today after yesterday’s sharp losses, as the prospects of a Russian wheat crop of…
Grain prices traded higher overnight, led by wheat. Grain prices reverted higher overnight, led by wheat, as Turnaround-Tuesday found big farmer selling that rewarded Monday’s big gains. This is to be expected that a stairstep effect to the upside is occurring for the second quarter price lift we have been anticipating, as large old stock…
Concerns growing for delayed corn planting, CONAB raises yields This morning, A mixed grain trade with corn firmer while wheat retreated and soybeans softened as CONAB raised their bean crop by 1.16 MMTs to 147.68 MMTs (USDA 154 MMTs as of last Friday). Corn production was raised from 111.64 MMTs versus 110.96 MMTs last month….
Again, wheat leads morning strength due to Russian wheat freezing. Grains are mixed this morning after a mostly lower night session, with wheat finding buying interest in the overnight. Further freezing has occurred in Russia on their wheat crop, building expectations that Russian exports could be lower than the present pace last two years. Russian…
WASDE Crop Report Domestic corn and world corn stocks numbers came in lower than average trade stock guesses, while the USDA failed again to lower Brazilian production by any significant amount. Wheat production guesses were friendly at 30 mil bushel below trade guesses producing a lower than expected carryout.
Freezes overnight in Russia and Argentina, with more to come. The overnight grain trade found wheat sharply higher, with gains of nearly $0.20 in the early hours on overnight freezing in northern areas of the Russian winter wheat corn crop. Most of the wheat was in the jointing or boot stage development, so with dry…
