Wheat stumbles on competition. Grain futures corrected overnight as the wheat market has come to grips with the rally it’s experienced alongside corn and soybeans has been met by a readily available supply out of Russia. Wheat exports for December out of Russia are now pegged at 4.0-4.4 MMTs when just two weeks ago, the estimates…
EU weather models reduce Argy rain. The overnight grain trade was mixed for corn and wheat while the soybean market quickly added premium back in with, with the March soybean contract recovering back to the 15.00 mark, as the afternoon forecasts substantially reduced the weekend rainfalls for Argentina. The mid-day models on Tuesday implied better…
China cancels remaining Covid restrictions. Grain futures are set to open higher on the restart of trading this week, with soybeans anticipated 5-10 higher while wheat and corn look 3-5 cents higher. Over the weekend, China lifted the remaining portion of their covert restrictions, which included no longer quarantining inbound travelers starting on January 8….
Cattle On Feed On Feed: 97% vs 97.1% estimate Placed: 98% vs 95.7% estimate Marketed: 101% vs 100.9% estimate Hogs and Pigs All Hogs and Pigs: 98% vs 98.5% estimateKept For Breeding: 98% vs 99.8% estimateKept For Marketing: 100% vs 98.4% estimate Cattle numbers came out neutral to barely negative based on placement numbers.Hog numbers came out friendly for the…
Grains firmer this morning on outside market improvement. The last trading day before Christmas weekend shows thinning volume as many traders take this time of year off. However, the South American weather market will remain. Forecasted rain over the weekend for Argentina remains, we will monitor the effectiveness of the rains and determine price direction…
Mixed grains this morning with rain forecasts and Ukraine/Russia supply risks Weather models show a change in precipitation chances for Argentina with a 5-day forecast of 1-2 inches possible. Almost an inch of rain fell in Argentina last night over a vast area of the country. Extended models are showing January to have moisture and…
Grains firmer on outside markets and disappointing rain fall in SA. Light rains totaling under an inch fell across the producing areas of Brazil yesterday. Argentina however received nothing and saw temps up to 105 degrees. Forecasts continue to show light to moderate rains for Brazil but not for Argentina where more rain is much…
Grains are mixed as a result of South American weather forecast change. Monday’s rainfall for in south America was isolated to northern Brazil followed by zero rainfall anywhere else. Forecasts are showing drier and temps to remain in the 90s for Argentina making January rains that much more needed. Today’s forecast is showing 25-65% of…
Mixed Monday morning grain trade to start off the Holiday week. The overnight trade showed a mixture of buying and selling pressure as the market balances the rain forecast for South America’s dry regions with the improved soybean and corn seedings. Brazil is expected to raise a soybean crop that could exceed 150 MMTs which…