Morning Update

Argentina lowers export taxes. The grain trade opened lower Thursday night on the news that Argentina was dropping its grain and oilseed export taxes starting Monday and carrying through June. The bulk of the weakness in the night trading range was developed in the first 15 minutes of the session. Argentina announced that they will…

Morning Update

Export sales are delayed until Friday morning. After a weak overnight session, this morning’s grain trade has found firming in row crops. Weakness developed as confirmation from yesterday about issues we discussed in Tuesday’s comments regarding possible restrictions on Brazilian bean importers were taking place. Five separate exporting entities, including ADM Brazil and Cargill Brazil,…

Morning Update

Wheat shows small gains again this morning after yesterday’s strong gains. After an initial soft overnight grain trade, President Trump stated during a press interview that he may start out with a 10% tariff on China by February 1 (not really a surprise and less than ever anticipated). However, as early morning hours came, the…

Morning Update

Soybeans lead the overnight grain charge to the upside. This morning’s grain trade has sharply higher soybeans, with wheat and corn also gaining. Less-than-promised rains over the Argentine region that need moisture and the absence of any Trump tariffs against China have the grain trade in full buy mode. Corn is producing its highest spot…

Morning Update

The markets will be closed Monday for Martin Luther King Day and reopen Monday evening at 7:00 p.m. Grain futures are firmer this morning, with corn and soybeans finding a bounce overnight as the Buenos Aires Exchange on Thursday afternoon released their crop ratings, and the soy crop was rated at a low 32% good/excellent…

Morning Update

Weather models flip from dryer yesterday noon in Argentina to wetter overnight. This morning’s grain trade is lower on corn and sharply lower on soybeans and wheat as yesterday’s pre-noon forecast was pulling rain for Argentine this weekend but then put them back in again in the evening and overnight. The 8-15 day window models for…

Morning Update

The grain trade is firm in the overnight. This morning’s grain trade is firm to a few pennies higher in the overnight session. Argentina’s rain forecast competeing models cannot agree on whether the rain events January 19-24 are widespread rain showers or more of the soaking kind. The EU model is the one that is…

Morning Update

Yesterday’s COT report shows corn longs have turned around 600,000 contracts from their August short. This morning’s grain trade has a light Turnaround-Tuesday going for soybeans and corn while wheat tries to find traction on further short covering from yesterday’s trade. The COT report was released Monday afternoon, delayed from its normal Friday release, due…