The overnight price strength turned mixed by morning. The overnight trade was mixed, with wheat again being the softer leg this morning, while soybeans maintained a small, short-covering gain. Any fresh news to reverse the trend is lacking, so short-covering bounces are just bouncing blips for now. USDA Weekly Export Sales are delayed until tomorrow…
The grain trade worked lower after early evening strength. This morning’s grain trade is lower as the retreat continues from yesterday morning’s price lift, and corn/wheat/beans search for a tradable bottom. Wheat prices had firmed initially overnight on an Egyptian wheat tender awaiting results, but it’s anticipated that one cargo of Ukrainian wheat will be…
This morning, a mostly higher grain trade after Friday’s bearish January Crop Report. Grain prices firmed overnight, in recovery from Friday’s bearish USDA crop report. Despite regional difficulties, the USDA produced a record corn yield of 177.3 BPA, which was still below trendline capabilities. Corn carryout was lifted to 15,342 Mil Bu. Soybeans also had…
USDA Report 1/12/24 Yield and stock data bearish for corn and soybeans, wheat acreage number was friendly to price.
A higher grain trade heading into the January Crop Report. Grain futures are higher the morning of the January WASDE crop report as tensions build in the Middle East, with crude oil bolting overnight as much as $3.00 as the US/UK attack Houthi Rebels with a large force presence. Rebel Houthi forces vow additional terror…
A mixed grain trade after morning export sales. Row crop prices firmed overnight on short covering, as no new discernible news was prevalent. Wheat prices gave up overnight strength when French milling wheat opened in midmorning trade and softened $1.00 MT. Export sales data this morning revealed a slow pace to the start of new…
A soft trade meets the morning session. The grain trade is starting out softer this morning, with wheat having corrected partially fronts strong recovery pricing yesterday. Yesterday afternoon NASS engaged in its housecleaning of the past five years on its data and made modest adjustments despite a slew of US and state estimates. Even though…
A feeble Turn-around Tuesday tried to get underway overnight. After making new winter price lows for corn, soybeans, and KC wheat, a mild turnaround Tuesday tried to develop overnight. Egypt’s GASC announced a tender (to close today) of an undetermined volume of wheat, Ukraine-origin wheat is the lowest offer so far. According to trade sources,…
Grains trade mixed overnight. Grain futures overnight had seen wheat find some minor support from the Arctic weather scheduled for the Black Sea area along with the Central US next week and the potential stress it brings to the wheat crops. Meanwhile, row crops bled lower on the ongoing expectations of improved South American weather…
Overnight grain trade remained soft. Grain futures retreated overnight as wheat continues to slip, while corn and soybeans retreat some of Wednesday’s gains as trade continues to remain thin. Trading desks are not yet fully populated and will likely not occur until next Monday, when we start the first full week of the year. Next…
