Grain prices trade sharply two-sided overnight. Grain futures had seen corn and wheat rise as much as a dime overnight, while soybeans struggled early in the night session and moved lower throughout the evening. Argentine farmers received a bonus from their government on Sunday with an incentive to sell soybeans at 200 pesos/MT versus the…
Grain prices recover on end-of-week short-covering. After four days of selling in soybeans and three sessions of selling in corn, the Friday recovery is underway as end-user buying steps in with the US dollar softening overnight into the monthly jobs number out this morning. August payrolls came in at 315,000, near the estimates but no…
Equity and commodities go risk-off overnight. The first day of September is greeting the world commodity and equity markets with heavy selling following elevated political tensions between Taiwan/China overnight as Taiwan shot down a drone that intruded into its airspace. Ongoing Central Bank communique continues to push home the fact that US interest rates are…
Grains continue to press lower overnight from Monday’s high. Grain futures are sharply lower across the board this morning after having a mixed volatile night session. Grain futures turned broadly lower overnight as the EU’s inflation numbers reached a record 9.1% for August. This will prompt another substantial interest rate hike in September, slowing their…
Turn-around Tuesday for the grains. Grain futures were lower overnight, with soybeans leaving the decline. The Pro Farmer Crop Tour is the low water benchmark for corn yields, and prices have acknowledged that, along with the prospects of a record bean crop. The focus is now shifting to demand, which the USDA may have overstated…
Spec Trade: Sell a Dec Chicago wheat at the MKT, 847 last with an 863 stop.