Wheat prices drifted overnight after last week’s lift. Prices are lower for wheat this morning and mixed/soft for corn and soybeans, as wheat prices correct last week’s recovery burst. Wheat prices softened on the lack of any threat to Russian export potential while Russia continued to bomb the Ukrainian port of Odessa on Sunday. Also,…
A mixed tone to start Friday ahead of a harvest weekend. This morning’s grain trade is mixed with soybeans softer after a sharp two-day rally. End-users are awaiting harvest to advance to gauge farmers’ marketing patterns. Today, NOPA releases their August Crush Report at 11am CT, analysts are forecasting a soybean crush of 168-169 mbu…
Ukraine continues to inflict damage on Russia. Grain prices ended the morning session mixed with wheat softer while soybeans tried to maintain a firmer trend overnight. For the second consecutive night in a row, Ukraine targeted Russia’s Black Sea fleet and knocked down Russian air defense systems near the town of Yevpatoria overnight. There were…
Wheat shorts get their nerves checked on renewed overnight Black Sea military action. Grain futures this morning have wheat leading the recovery, followed by corn, while soybeans trade a few pennies lower. Strength in the wheat overnight came from a rally as Ukraine launched a missile attack on the Russian port of Sevastopol. The port…
USDA Crop Report 9/12/23 Crop report neutral soybeans to slightly negative to corn expectations with corn acreage being increased to 800k acres, producing a production estimate of 90 mil bushel higher than average guess. Soybean acreage was modestly increased with yield at the estimate creating production near expectations. With yields lowered again for the second…
September WASDE crop report out at 11:00 a.m. today. Today’s grain trade is soft on exceptionally low volume overnight ahead of the September WASDE crop report out at 11:00 a.m. this morning. Again, the average estimate for today’s yield guess on corn is 173.4 BPA while soybeans are at 50 BPA. Interestingly, both yield guesses…
Soybeans lead the overnight recovery from soybean meal strength. This morning’s grain trade is mixed with row crops higher while wheat stumbles. Row crops are firming ahead of Tuesday’s WASDE crop report, while wheat continues to struggle with massive monthly Russian exports, which are now in the 5-6 MMT category. IKAR analysts indicated Russian 12.5%…
Grain prices find stability heading for the weekly close. Today’s grain trade is mostly firm towards the end of the morning session, with export sales data released as expected. This morning’s Stats Canada data had all wheat stocks for July 31 at 3.584 MMT versus estimates of 4 MMT, canola was 1.506, also below estimates…
Grain prices prepare for Tuesday’s USDA crop report. This morning’s grain trade is mixed to lower as the trade prepares for next Tuesday’s USDA crop production report. Managed money trade is short Chicago wheat and corn while they are long soybeans and soy products. This means risk adjustments into the report have been a softening…
