Farm Forum estimates released. This morning’s grain trade is mixed after the USDA released its 2023 forum outlook and balance sheets. WASDE put corn seedings at 91 Mil acres, up 2.4 Mil from last year, soybeans at 87.5 Mil acres, nearly equal to last year, and wheat seedings were up 3.8 Mil acres to 49.5….
Grains find Turn-around Tuesday on Wednesday. Turn-around Tuesday (Monday holiday spills it into Wednesday) is presenting lower prices this morning. They came courtesy of unexpected rain showers breaking out over central Argentina this morning, placing rain amounts of .25-1.25” that wasn’t expected. This softened the corn and soybeans in the night session while wheat drifted…
Grains trade higher after the holiday weekend. Grain futures opened higher Monday evening on the dry weather forecast for Argentina and some light frost on Saturday. The frost event was not widespread, as most temperatures were just down to 2°C while the dip below zero was in low-lying areas. Nevertheless, the lack of rain in…
A quiet overnight grain trade before the holiday weekend. The Ag markets will be closed on Monday for Presidents Day. South American markets will also be closed nest week Monday and Tuesday for their Carnival Holiday. That will limit cash sales next week during a time when Brazil is pushing offers in soybeans, meal and…
Rains in Argentina and declining export sales set a soft tone. Grain prices are soft this morning as the last of Argentine rain showers work through northern crop areas with better-than-expected rainfall overnight. Even RGDS in Southern Brazil received good soaking rain after a strong round occurred in Córdoba and Santa Fe. The fall in…
Grains trade soft throughout the entire night session. Grain futures are lower this morning along with the rest of the investment world as most commodities are lower while the US dollar researches to near 104.00 after yesterday’s CPI data. Yesterday’s slightly stronger numbers than estimated Imply that the Federal Reserve will be forced to stay…
Mexico will take GMO corn for feed and industrial use. Grain futures are mixed this morning, with corn finding support on yesterday afternoon’s announcement from Mexico that they will take US GMO corn in January 2024 for livestock feed and industrial use (this was a highly anticipated outcome). However, they still will hold fast to…
Grain futures softened overnight on better-than-expected Argentine rainfall Soybeans and meal pushed new calendar highs overnight after the opening but quickly retreated as the rains forecasted for Monday-Wednesday got underway in Buenos Aires. Rainfall overnight continues to break out, and now updated weather models have increased rain totals to .5-3.00” for total accumulation in the…
Wheat and corn rally triggered by Russian oil cut The Algos are running on todays headlines.The question is if it is creating a sell opportunity, as it’s in Russia’s best interest to maintain the grain corridor? Read attached link:https://www.farmprogress.com/markets-and-quotes/morning-market-review
