Soybeans and corn continue to drift from last week’s gains. Corn and soybean prices are softer this morning, with soybeans leading the larger decline after being the biggest gainer last week. Argentine’s presidential election featured a win for the Peronist party, with their economic minister Sergio Masa capturing 36.6% of the vote and the right-wing…
Cattle On Feed 10/20/23 On Feed: 101% vs 99.7% estimatePlaced: 106% vs 100.8% estimateMarketed: 89% vs 90.3% estimate The report was slightly negative due to placement number.
Soybeans drift from the 200-day MA, but corn holds firm. This morning, grains are mixed with wheat, finding follow-through buying, with corn firm, while soybeans drift slightly from the 200-day MA. The focus this weekend for soybeans, besides the ongoing Middle East tensions and concerns that a broader area of the Middle East could be…
Spec trade: Day order, sell a Nov bean at 1315.4 with the 1324 stop. Take profits at 1302. Soybeans should initially struggle to advance beyond the confluence of the 100-day and 200-day MA currently at 1318, and find a correction.
Grain pricing overnight produced a mixed result. Grain prices are coming in mixed this morning, with soybeans challenging the confluence of the 100-day and 200-day moving averages in the 1318-1320 range. Active bookings of soybean meal with Argentina are now out of the market until April, with US sourcing as the primary interest. US corn…
Grain prices universally moved higher overnight. Grain prices moved higher overnight, led by rising energy values and improving interior corn, soybean, and wheat bids at major market areas. Reduced barge freight has worked to trim US fob premiums, with US and Brazilian corn now offered at even money this morning. Argentine corn is no longer…
Soybeans add to gains overnight after friendly NOPA report. Grain prices are mixed this morning as soybeans continue the recovery towards the post-October WASDE crop report high on a friendly NOPA crush yesterday that showed stocks at the lowest levels in nine years for bean oil. Biodiesel production is expected to be up 40% next…
Grains started the week firm but settled for mixed by morning. Grain futures ended their overnight session mixed after a mostly higher performance. Rising US export potential and further short covering in wheat with China purchasing more SRW out of the PNW. It’s becoming apparent now that Australian supply shortages due to drought will force…
Grains continue to strengthen after the WASDE report. Grain futures are higher across the board this morning, follow-through buying after yesterday’s bullishly construed soybean and corn WASDE crop numbers. Crude oil is trading back near the highs of the week as gold and silver surge with Middle East tensions rising. The Israeli military is urging…
