Uncategorized

Spec Trade: Buy March Chicago wheat at the MKT, 823 last with a 808 stop.

Mixed trade to start Friday. Grain futures initially pushed higher overnight but succumbed to selling in the early morning hours as French Milling wheat retreated from yesterday’s new all-time highs near $300/MT, as Russia raised its floating export tax to $77.10/MT that’s up $7.10 from the last hike in October. Some are thinking it would…

Spec Trade: Re-buy March corn at 573.4 with a 565.6 stop.

French milling wheat pushes another new all-time high again overnight. Grain futures experienced modest profit-taking overnight from yesterday’s sharply higher run, with inflation being the rage and risk on being played across most of the commodity complex except for crude oil. The US government is closed today for our “Veterans Day” holiday alongside Armistice Day…

Hedge recommendation: Make a 25% sale for 2022 KC wheat at 805 on July KC wheat.

Bullish CPI this morning firms grains. Grain futures are higher this morning after a mixed overnight performance. CPI released this morning for October showed consumer prices rising more than expected. This lifted gold through the summer highs and helped crude oil recover an overnight selloff with inflation buying back into the grain complex this AM….

USDA WASDE Report 11/9/21 Report bullish Beans neutral-friendly Corn and Wheat

USDA crop report out at 11:00 AM CT today. Grain futures found short-covering overnight ahead of Tuesday’s USDA crop production report, with soybeans still struggling with the concern that production data and reduction in exports will push the carry out near 400 Mil. The fact that the bean market has collapsed so hard sets up…

A mostly mixed grain session to start the week. Grain futures are mostly lower this morning, after a mixed overnight session. Soybeans are leading the decline with the concerns of Tuesday’s November USDA crop report anticipating a yield and carry-out increase. What’s interesting is the November data is typically tamed, but due to the fact…

World wheat values do not participate in US grain price decline. Grain futures stabilized overnight with wheat trying to find leadership from European world values, as French milling wheat was higher overnight and did not participate in yesterday’s price decline. Corn futures traded stable while soybeans drifted back to yesterday’s lows on disappointing Chinese buying….