Soybeans challenge 10.00 in overnight strength. This morning’s grain trade is mixed with soybeans leading a recovery in price after yesterday’s reversal from a bullish NOPA crush report. At the same time, wheat continues to soften in trying to understand Russia’s export tax selling floor. The Nov/Jan bean spread firmed 8 cents over the last…
Crude oil and China drag grains softer overnight. This morning’s grain trade is lower across the board, led by the soybeans, as favorable South American weather and the sharp collapse in crude oil overnight weighed heavily on the biofuel pricing side of the grain trade. China’s stock market was sharply lower overnight due to its…
Russia raised it’s cash price floor. This morning’s grain trade is softer across the board, with wheat futures having tried to stabilize and traded mixed in the morning hours. Paris wheat futures are higher by $1.50/MT as Russia announced a seller’s floor under the cash price of $250/MT FOB. This compares to prices offered last…
USDA Report 10/11/24 Crop report mostly neutral with corn carryout still at or below 2 bil/bu and world carryout numbers showing wheat slightly higher than last month.
October 9, 2024 http://www.heartlandinvest.com 701-222-0221 or 1-800-359-0221 Tap an Icon to Listen What I’ve Learned “The harder you work,the harder it is to surrender.” Vince Lombardi Commentary Today’s grain trade ended that a lot different than how it was anticipated to start Sunday night. Soybeans could of crumbled in the night session Sunday on the…
Grains are lower due to the lack of further Chinese stimulus. This morning’s grain trade is lower across the board, as overnight strength faded after China did not offer another round of aggressive economic stimulus following the return from Golden Week Holiday. China’s head of the National Development and Reform Commission provided few details on…
Grains lower overnight from the Brazilian rain forecast but not sharply lower. The overnight grain trade opened lower as anticipated, but after the initial hour, a bid arrived in corn, soybeans, and wheat, and prices improved modestly throughout the night, leaving small losses in corn and soybeans while the wheat trade had turned mixed. The…
US port strike ends, and job numbers are better than expected. This morning’s grain trade is mixed. Wheat and corn continued yesterday’s selloff, while soybeans firmed on spread trading and bean oil, having followed crude oil higher overnight until the jobs data came out this morning. The US dollar firmed after 7:30 this morning, trading above…
The grain trade chooses Thursday to relax early week gains. This morning’s grain trade is softer after three days of relentless buying in the face of harvest. Despite decent export sales numbers this morning, the market is choosing to still relax from recent strength. The corn rally, along with wheat, has started to reveal what we…