Argentine grain inspectors threatened strike. Grain trade firmed overnight as the ongoing weather models predict blizzard-like conditions in the Northern Plains through the first week of April, along with the uncertainty of the upcoming seeding date on Friday taking a nervous tone. Also, Argentine grain inspectors are demanding higher wages and are set to strike…
Cargill pulls operations out of Russia. Another mixed-price evening turned into a firm morning, with wheat prices sharply higher again. Adverse weather that is inflicting the Plains, along with the never-ending Northern Plains winter, has caught a bid this week. Cargill announced it would be leaving the Russian ag export space this morning. While it’s…
Wheat and beans turn higher in the early morning trade. After a mixed overnight session, the grain trade firmed in the early morning hours as French milling wheat recovered its losses. Malaysian palm oil futures rallied 129 ringgits, and Dalian soymeal in China was up $5/MT. Turkey purchased 535,000 MTs of Russian-origin wheat at $297-307/MT,…
Spec trade: Place an order to short a May bean at 1444.4 with a 1462 stop.
Grain futures have a mixed start for the week. The overnight grain trade featured soybeans higher while grains were softer. Short covering continued from late Friday into the overnight as it was revealed funds likely liquidated some 40,000 soybean contracts and 46,000 soybean meal longs. Corn and wheat failed to rally and build on Friday’s…
Wheat jumps on Russian wheat hold rumors This morning, grain prices are finding wheat sharply higher on a story out of Reuters that Russia is contemplating a halt of wheat and sunflower exports due to the recent price collapse. It’s a rumored story from a meeting with high-level members held in the Russian Ag ministry….
Wheat leads the overnight grain price recovery. Grains are firmer this morning, with soybeans trading mixed. French milling wheat traded stable overnight, allowing wheat to continue its price recovery, with Kansas City leading the advance on the pervasive dryness that is now becoming a focus. Spreads dominate, with corn supporting Chicago wheat, now trading 30…
French milling wheat tumbles to new 19 month lows. Grain futures moved lower overnight after an initial firm start, with French milling wheat leading the decline in the early morning hours, declining $7.00/MT (20 cent Bu equivalent), putting heavy pressure on wheat, extracting their 10-day gains from the March 10 low. Weakness in wheat spilled…
Grain prices trade higher in the early morning hours. Grain prices firmed overnight on the lack of outside risk-off liquidation. Overnight outside markets reflect a calm, as money has been found to be thrown wherever there was trouble, with the US dollar heading lower ahead of the onset of the Fed meeting today and Wednesday…
