Old crop soybeans continued their strength, Spring Wheat tour finds disappointing yields on day two. Grain futures saw the old crop soybean market burst higher again overnight, followed by the hard wheat contracts as the second day of the spring wheat tour found some disappointing results. Wheat futures had a volatile session, with losses developing after…
Spec Trade: Buy 2 Dec mini-wheat at the MKT, 736 last with a 690 stop.
Grains lower overnight as military actions remain quiet in Ukraine on grain infrastructure. Grain prices softened overnight while soybeans traded on either side of unchanged. There were no Russian strikes on Ukrainian grain handling facilities overnight, which are on pause, but it is noted that there were reports of blasts from sea mines surrounding Odessa…
Grains lower on military pause in Ukraine and potential rain. The Monday night grain markets opened firm/higher on disappointing expectations on crop condition ratings, while wheat continued short covering as index funds scrambled to reduce their position size. Turnaround Tuesday came early as grain futures turned lower to sharply lower in the evening as expectations…
Russian drones strike Ukrainian port near a NATO nation. Grain futures opened initially higher overnight on the dry and hot Midwest forecast, but the overnight trade moved sharply higher as Russian drones destroyed warehouses on the Danube River terminals in new attacks across the river from neighbor member Romania. The port of Reni is directly…
Cattle On Feed 7/21/23 On Feed: 98% vs 97.6% estimate Placed: 103% vs 97.8% estimate Marketed: 95% vs 95.3% estimate Inventory All Cattle: 97% vs 97.7 estimate All Calf: 98% vs 97.6 estimate The report is slightly negative due to placement number.
Grain prices stumble on long-term weather model hopes. Grain futures turned lower to sharply lower overnight as the 11-15 day models offer some showers in seasonal temps for the N Midwest. Also, Turkish Pres. Erdogan indicated that he had hoped that he could persuade Pres. Putin into returning/extending the Black Sea Grain Corridor deal. The…
India announcing to ban the export of non-basmati rice. Grain futures pushed higher again overnight, led by wheat, as not only was the news that Russia stated any ship moving into the Black Sea region would be considered as a potential military aid ship for Ukraine, but more news also came from India. India announced…
Ukrainian port war escalation and threatening weather boosted grains sharply higher overnight. Grain futures raced sharply higher overnight on the escalating of Black Sea risks occurring with more bombing in southern Ukraine with reports of more damage done to the ports in Odessa and Chonomorsk. Adding to the fact that vessel insurers will now pause…
Grains turn higher overnight on threatening weather forecasts. After a lower start last night, grain prices recovered sharply as weather models bring threatening US weather to the Central US along with overnight strength from Russia against Ukraine’s Odessa grain export port. This signals Moscow’s aversion to Ukraine to export Ag products from Marine ports. It’s…
