Grain pricing firms overnight from a weak start. Grain prices opened lower Sunday night across the board but quickly found buying interest as China’s Central Bank lowered its lending rate by 15 basis points. This prompted buying in the grain trade as China is looking to shore up its economy after all of the recent…
Cattle On Feed On Feed: 101% vs 100.7% estimatePlaced: 102% vs 98.5% estimateMarketed: 96% vs 97.1% estimate Cattle on feed report was bearish to pre-report expectations with placements much higher than anticipated and marketing’s one percent below expectations. Look for the cattle market to be $1-2 lower on the opening Monday.
Commodities and equity indexes hit with risk-off trade overnight. Grain futures had a firm start overnight but were met with heavy selling as the US dollar pushed higher towards 108.00, causing a risk-off scenario as all commodities, including financial indexes, moved sharply lower in the early morning hours of Friday. Corn futures firmed after morning…
Wheat prices decline sharply on Ukraine wheat movement. Corn and soybean pricing gave up a firm start Wednesday night and were drug lower by wheat prices which pressed new 2022 lows for Chicago wheat with active vessel movement into and out of Ukraine to load new supplies of wheat. Russian export tax remains a problem…
Grains are consolidating and recovering from early week losses. Grain futures consolidated overnight and found morning buying interest after recent rains that have passed have forecasts now projecting another lengthy period of dryness for KS, NE, SD, and W IA along with IN. US weather continues to remain important well into the opening days of…
Grains are again lower this morning. Grain futures are lower again today but still above Monday’s lows. Crop ratings declined as expected yesterday and are anticipated to stabilize and possibly improve into next week with the improved moisture and cooler temps for the W Midwest. Also, the US dollar is stronger again for the third…
Grains are sharply lower on rain and China concerns. Grain futures opened softer overnight on improving moisture prospects for the W Midwest and Plains, with losses accelerating sharply lower late in the evening as China’s July Industrial Production numbers slowed to 3.8% versus expectations of 4.5%. All commodity sectors suffered overnight, with crude oil posting…
Spec Trade: Sell 3 Nov Mini-Beans at the MKT, 1423 last with a 1465 stop.
USDA Crop Report 8/12/22 Stocks data for corn considered neutral where as soybeans were negative, wheat ending stocks were priced positive. Corn production estimate slightly friendly but soybean yield production was slightly bearish to estimates.