The Pro Farmer tour enters the states that have been stressed today and Thursday. Grain prices are mixed this morning, with corn and wheat finding support on reports that Russian drone strikes occurred again on the Danube River grain terminals and caused fire and damage to storage facilities. Meanwhile, soybeans stumbled the night after the…
The grain trade consolidates after yesterday’s losses. This morning’s trade is seeing a small Turn-around Tuesday develop in wheat and corn, but overnight strength is drifting. Soybeans have seen a considerable price advance over the past five sessions due to the forecast of hot/dry Central US weather this week, where yield reduction risk stays real….
Soybeans lead overnight strength Grain futures opened sharply higher last night, with soybeans the strongest, as the crop is most at risk with the upcoming record heat, which will affect pod filling. Wheat softened overnight as it became the sell leg against soybeans, while corn retreated its gains after jumping $0.30 from last Wednesday’s new…
Concerning weather for the last half of August supports beans. Grain futures had corn and wheat lower overnight, while soybeans had mounted a strong rally that faded by the morning hours. Concerns continue to grow over the upcoming hot/dry weather in the Central US for the next two weeks and what the impact will have…
More Ukraine attacks overnight Grain futures firmed overnight after becoming oversold, as Russian drones targeted Danube River grain silos last night at the port of Reni, damaging storage and warehouses, according to senior Ukraine officials. However, grain shipping sources say operations have continued despite the attacks, keeping prices in check. A Hong Kong flagged ship…
Crop ratings had values lower overnight. Grain futures are softer this morning, lower with yesterday’s improved crop ratings. Crop Progress showed corn conditions improving 2% to 59% G/E. Notable changes included IL +6%, MO +9%, SD +9%, IN & OH +3%. Soybean conditions improved by 5% to 59% G/E. Notable changes included IL +12%, IA…
After Sunday night’s higher start, the trade turned mixed. Grain futures opened higher Sunday night on the return of warm, dry weather late this week, and Russia firing warning shots at a merchant vessel over the weekend. Even though Ukraine’s Foreign Ministry strongly condemned the “provocative” actions and called for international community countermeasures, wheat, and…
USDA Crop Report 8/11/23 Crop report had a friendly knee-jerk initial reaction. Considered neutral to slightly negative.
Grain markets quiet before the USDA crop report. Expect to see some volatility today as the USDA crop report is set to be released at 11 am CDT and following at 12 noon will be FSA’s updated farm program participation data on major crop seedings. The average yield guesses for todays report are 175.5 BPA…
The overnight trade features more short covering ahead of Friday’s WASDE crop report. The grain trade was firmer overnight, with soybeans leading the strength ahead of Friday’s WASDE August crop report out at 11:00 a.m. CT. There is statistical uncertainty surrounding the data and FSA Farm Participation reports that find open interest continuing to decline…
