Grain prices trade firm overnight. Grain prices were firmer overnight as corn anticipates another Chinese corn sell announcement, wheat is concerned with Russia standing fast with the 60-day corridor door extension, and BAGE makes cuts to the Argentine corn and soybean crop again. Concerns could evolve with today’s quad-expiration of options and futures for indexes today…
Cattle On Feed On Feed: 96% vs 95.6% estimate Placed: 93% vs 93.9% estimate Marketed: 95% vs 95.8% estimate Cattle numbers are mixed for Monday’s opening with placement’s slightly friendly while marketings a little less than expected.
Grain trade is mixed as is outside markets this morning. Grain futures are mixed this morning after a low volume will night session. The European banking sector is calm today as the Swiss National Bank offered a $50 billion line of credit to Credit Swiss (Credit Susie). This was highly anticipated late yesterday as the markets…
Overnight grain strength muted with new outside market concerns. Grain futures pushed higher early last evening, with corn gapping higher on the release of the COT report showing a sharp drop in corn length of 140,000 contracts. This is much larger than expected as the CFTC is catching up on managed money positions. This drop…
CPI data this morning comes in mostly near estimates. Grain prices softened overnight after yesterday’s poor technical close as liquidation continues in the present risk aversion atmosphere. Open interest fell in yesterday’s liquidation, reflecting an attitude of fewer players participating, decreasing liquidity and creating sharp spikes or dips much more quickly on headlines. The Black…
Outside market influences send grain prices lower overnight Sunday night, the grain trade opened higher, which was the end of it, as macroeconomic nervousness brought about selling throughout the commodity sector, except for metals pushing higher as the dollar declined. Despite the horrible weather experienced in Argentina over the weekend, the market focused on another…
Grains slip further after weak Thursday technical close Grain futures are mixed at the close of the night session after a mostly lower trade that found buying interest on the US dollar break after the release of the US jobs number. A poor technical trade performance on Thursday after BAGE Argentina released new low crop…
Grains slightly rebound after USDA report selling. With 9 days remaining to finalize a deal on the Ukrainian grain corridor, there is a meeting in Geneva, Switzerland next week to discuss details of the deal. Russia demands grain to flow to countries in need and that restrictions on their own grain be lifted. Yesterdays USDA…
USDA Report 3/8/23 USDA report was friendly for soybeans as the Argentine crop was cut more than expected for both soybeans and corn. Domestically corn stocks were increased due to a jump in yield again for last year’s crop and cut demand by 75 Mil Bu. Soybean exports were raised by 15 Mil Bu but…
USDA crop report releases at 11am today. Estimates for today’s crop report are showing the USDA cutting its 2022/202 corn exports by 20-25 million bushels and raising soybean exports while wheat numbers stay unchanged. USDA estimated the Argentine soybean crop at 41 MMTs last month, now the market is estimating a number closer to 36.5…
