Wheat looks to provide morning strength. Grain futures look for a split opening this morning with wheat called 3-5 cents higher on two-day strength for French milling wheat while corn is mixed and soybeans steady-3 cents lower. Declining world production is meeting US crop improved weather. Rain fell across the E Midwest over the July…
Grains are mixed ahead of today’s one-day close. Grain futures are mixed ahead of the July 4 Independence Day holiday. Markets will close at their regular time today and reopen Friday, July 5 at 830 for a full one-day session. Soy oil futures continue pushing higher again overnight as premiums grow over Indonesia, getting closer…
Turn-around Tuesday with wheat softening and row crops gaining. Turn-around Tuesday is underway, with wheat giving back some of yesterday’s gains while corn and soybeans recover in price. After breaching the soybean oil chart’s 200-day moving average, Soy oil continues to gain, bringing in new technical buying from heavily shorted positions from managed index funds….
A mixed trade for the start of Independence Week. This morning, there was a mixed grain trade as overnight action traversed higher and softer pricing. Weakness in the overnight trade was found to be short-covering interest, while corn continued to see pressure from Friday’s acreage and stock increases. The Black Sea drought continues with this…
USDA Report 6/28/24 Corn and wheat stocks along with corn acreage were negative to pre report estimates, wheat and soybeans acreage friendly to pre-report estimates.
Today is one of the most significant Crop Reports of the year. This morning’s grain trade sees short covering ahead of the NASS Crop Report at 11:00 a.m. Strength in soybeans is developing as the Argentine oilseed crushers workers union SOEA started striking Thursday in protest of President Javier Milei’s proposed economic and labor reform…
Hogs and Pigs Report All Hogs and Pigs: 101.3 vs 101.3 estimates Kept For Breeding: 96.8 vs 97.8 estimates Kept For Marketing: 101.7 vs 101.6 estimates Kept for Breeding number was even lower than expected. Look for the fall and winter contracts to be $1.00-2.00 higher.
Short covering develops overnight ahead of tomorrow’s data. This morning, short covering is a feature on the grain trade after continued heavy selling from the HTA deliveries and technical features from algorithm traders pressing momentum on rain forecasts. This morning’s Stats Canada report featured all wheat acres at 26.64 Million versus an estimate of 26.94,…
Soybeans lead overnight price stability. This morning’s grain trade is firmer, with spot soybeans leading the strength. July soybean and soymeal futures are the strongest, with one known NW Midwest crush plant having suspended operations due to flooding. There may be others yet to follow. Board soy crush and corn grind margins have rallied strongly…
Turnaround-Tuesday has yet to make its presence. The grain trade is lower again this morning after mild strength in the overnight session from the reduction in crop ratings, which were mostly expected. Morning grain pressure persists on ridge-riding storm systems and cooler Midwest temperatures. Friday’s USDA report keeps fears of bearish USDA crop data in…
