A mixed-grain trade developed overnight despite a sharply higher crude oil market. Grain Overview The grain trade opened higher Sunday night as crude oil was sharply higher, as the Strait of Hormuz remains closed, and the Iranian conflict was intensifying over the weekend with more missile strikes from Iran. The selling vigilantes immediately showed up…
The grain trade is looking for a short covering day today if seller vigilantes fail to materialize this morning Grain Overview Grain futures overnight found consolidation with wheat and soybeans trying to firm a bit, while the corn market etched a new low overnight with December corn dipping under 450. The real test comes during…
Corn Support Thoughts Corn’s continuation lows since the October low last year was 409, followed by the January low at 417 ¼. Today’s low so far… is 422. It stands to reason that past valuations that drove strong demand will now see our export sales pop after a massive “Kmart blue light special” has been…
Grains softened overnight, with wheat catching a bid. Exports look to rise with the recent grain price decline. Grain Overview Further weakness was seen in the grain trade overnight, although the selling was not as severe as in previous sessions. Even wheat futures managed to turn positive after losing another dime during the overnight trade….
Grains catch a bid overnight after multiple days of liquidation. Grain Overview Grain futures appeared to complete their latest round of liquidation Tuesday evening, opening lower despite strength in crude oil. Energy markets continued to firm overnight and into the early morning hours following reports that Iran had launched attacks against neighboring countries. The renewed…
Grains remain in risk-off status. Outside friendly influences lack triggers for price buying. Grain Overview Corn, soybeans, and wheat all spent the overnight session on the defensive. The selling wasn’t tied to any major bearish headline. Instead, the market is struggling with a lack of buying interest, particularly from managed money. That same theme is…
New trading month with overnight action mostly firm due to crude oil. Grain Overview Grain markets started the new month on a firm tone, which later turned mixed overnight, as soybeans an d wheat moved higher while corn traded slightly lower. Most of the attention was focused on growing tensions in the Middle East. Pres….
New contract highs in soybean oil leads overnight soybean strength. Grain Overview Energy values are weaker this morning following news of a potential extension of the US-Iran peace deal and a possible agreement to end the war. Details of this proposal are still being worked out though, and its passage remains uncertain. The peace deal…
China may be close to reducing tariffs. Grain Overview Corn and soybean futures moved higher overnight, while wheat traded unevenly across the three markets. The broader grain trade appears to be losing some of the bearish momentum that has weighed on prices. As with any sustained move, sellers need a steady flow of new negative…
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