Grain prices pushed higher overnight Grains are higher to sharply higher this morning as soybeans and wheat pushed double-digit gains. Chart action on soybeans holding the 20-day MA for several weeks after closing above it has triggered further short covering and buying interest since China returned from their Autumn Harvest. French milling wheat is €3.00…
Cattle On Feed On Feed: 101% vs 100.9% estimatePlaced: 99% vs 99.0% estimateMarketed: 96% vs 96.6% estimate Report is mostly neutral to pre-report estimates.
Row crops decline ahead of the weekend. This morning, the grain trade has wheat short covering because of who knows what develops with Russia/Ukraine; meanwhile, corn continues to struggle from yesterday, and today on the news that railroads are struggling to facilitate the extra large export book the US has with Mexico is somewhat disappointing….
This morning’s grain trade is mixed with outside markets sharply higher This morning’s grain trade is softer despite a surge in outside markets with metals, energies, and equities recovering lost ground that occurred after the Federal Reserve announced a cut of .50% on the Fed funds rate. Outside markets initially rallied on the data and…
A firm grain trade this morning’s follows China’s return from Autumn Festival. This morning’s grain trade is firm, with soybeans leading the way as China has returned from holiday, and when the 8 PM trading got underway, a sharp boost in soybean prices materialized buying out of the Far East. It’s a macro-economic day with…
Turn-around Tuesday kicks off today’s action. This morning’s grain trade is firmer across the board as the US dollar declines to new lows. The US central bank meets today and is likely to cut rates tomorrow by .25%, with thoughts it could be as much as .50%. Chairman Powell is trying to pull off a…
The grain trade softens as harvest pressure develops. The overnight grain trade saw a steady-higher start but then immediately was overwhelmed with hedge-related selling offering pressure in the overnight trade. This week is big, with the US, Brazil, and Japanese Central Banks all making rate decisions that will impact the financial markets. The Federal Reserve…
Fund short covering and end-user buying overcome post-WASDE report trade. This morning’s grain trade is higher to sharply higher following yesterday’s perceived bearish crop yields. Yet, it’s the expectation that the disappointing corn ear and soybean pod counts will see a reduction in yield potential due to the dry finish that the bulk of the…
WASDE Crop Report 9/12/24 Soybeans data was neutral with corn data slightly negative.
