A string of crop reports are out today. Corn reached another new low overnight, trading at the lowest level since December 2020. Traders have priced in a bearish WASDE, with funds record short in February. The CONAB Report (Brazil) data boosted row crop prices this morning, showing a 23/24 Brazilian total corn production cut to…
The grains are declining again after a two-day rally. Grains moved lower overnight as corn set the pace, scoring a new fresh three-year low. Rain fell in abundance overnight across the south-central Buenos Aries in southern Argentina, which added to the bearish sentiment. AI momentum funds are pushing values lower to see if the market…
The grains start out Tuesday firmer. Crop report Thursday. The grain trade is mostly firmer this morning, with the exception of wheat being mixed with soybean oil leading the advance. Short covering started yesterday morning and is expected to have an influence ahead of the CONAB and USDA reports out on Thursday due to the…
The first full week of February gets underway with lower grain prices. This morning’s grain trade is lower, follow-through from Friday’s poor close after Friday’s NFP Jobs Report was much stronger than expected, propelling the Dollar to six week highs, negatively impacting grains. Rains are anticipated to start in dry Argentina in the South on…
Spec trade: Sell and April live cattle at the MKT, 183.95 last with the 185.15 stop.
The grains were mostly firm until the 7:30 US Jobs Number firmed the dollar. This morning’s grain trade had a firm bias led by the wheat market (until the Jobs number at 7:30) on hopes that Chinese purchases of French wheat continue to circulate along with Egypt likely to be in soon if they can…
The grain trade softened into slow export sales numbers. This morning’s grain trade is weaker, as the US dollar stays firm above one 03.00 after yesterday’s Federal Reserve meeting, pushing any potential rate cuts later into the year, possibly May or June. Meanwhile, expectations of low numbers for this morning’s export sales weighed on the…
Cattle Inventory Total US Cattle Inventory: 98% vs 98.3% estimateTotal Calf Crop: 98% vs 97.5% estimate The report came in friendly to pre-report expectations. All cattle and calves came in 87.2 million head, which is 2% below last years 88.8 million head.
The grain trade retreats from Tuesday’s gains. This morning’s grain trade is lower as disappointing economic news out of China ahead of today’s US central bank meeting conclusion brought about renewed selling interest from the heavily short index funds. China reported that its manufacturing activity slumped for the fourth consecutive month, with its PMI reading…
Grains decline further overnight from Monday’s losses. This morning’s grain trade is mixed with corn and wheat softer, while soybeans are trading firmer after pushing new calendar year lows. Chinese/Asian demand that has slowed along with ongoing managed money selling of grain futures continues to be the main driver. Yesterday’s Hong Kong Ct. ordering the…
