The grain trade moved sharply lower Sunday night. Grain prices opened sharply lower and continued sharp losses overnight as weather for the Lake states produced weekend rains that were heavier precipitation than forecasted, and models reduced heat from the Midwest that had been forecasted for this week to return. The markets have shifted their focus…
Grains lower on follow-through Thursday weakness. Grain prices tumbled lower overnight on yesterday’s poor technical closes and rains developing for the Ohio Valley. First notice day for deliveries is Monday for August soybeans, and recent sharp gains were severely corrected yesterday into the overnight. Russia did not attack any further grain infrastructures overnight as it…
Old crop soybeans continued their strength, Spring Wheat tour finds disappointing yields on day two. Grain futures saw the old crop soybean market burst higher again overnight, followed by the hard wheat contracts as the second day of the spring wheat tour found some disappointing results. Wheat futures had a volatile session, with losses developing after…
Spec Trade: Buy 2 Dec mini-wheat at the MKT, 736 last with a 690 stop.
Grains lower overnight as military actions remain quiet in Ukraine on grain infrastructure. Grain prices softened overnight while soybeans traded on either side of unchanged. There were no Russian strikes on Ukrainian grain handling facilities overnight, which are on pause, but it is noted that there were reports of blasts from sea mines surrounding Odessa…
Grains lower on military pause in Ukraine and potential rain. The Monday night grain markets opened firm/higher on disappointing expectations on crop condition ratings, while wheat continued short covering as index funds scrambled to reduce their position size. Turnaround Tuesday came early as grain futures turned lower to sharply lower in the evening as expectations…
Russian drones strike Ukrainian port near a NATO nation. Grain futures opened initially higher overnight on the dry and hot Midwest forecast, but the overnight trade moved sharply higher as Russian drones destroyed warehouses on the Danube River terminals in new attacks across the river from neighbor member Romania. The port of Reni is directly…
Cattle On Feed 7/21/23 On Feed: 98% vs 97.6% estimate Placed: 103% vs 97.8% estimate Marketed: 95% vs 95.3% estimate Inventory All Cattle: 97% vs 97.7 estimate All Calf: 98% vs 97.6 estimate The report is slightly negative due to placement number.
Grain prices stumble on long-term weather model hopes. Grain futures turned lower to sharply lower overnight as the 11-15 day models offer some showers in seasonal temps for the N Midwest. Also, Turkish Pres. Erdogan indicated that he had hoped that he could persuade Pres. Putin into returning/extending the Black Sea Grain Corridor deal. The…
India announcing to ban the export of non-basmati rice. Grain futures pushed higher again overnight, led by wheat, as not only was the news that Russia stated any ship moving into the Black Sea region would be considered as a potential military aid ship for Ukraine, but more news also came from India. India announced…
