Weakness overnight has corn and wheat finding support. Grain futures were lower overnight, awaiting the US trade representatives Katherine Tai’s announcements today on how the Biden administration will approach upcoming bilateral trade talks with China. China is behind on Phase 1 Agreement purchases with three months remaining in the current agreement for this year. China…
Spec Trade: Buy a Dec Bean oil at the MKT, 58.50 last with a 56.98 stop.
Wheat futures carrier the overnight strength. Wheat futures extend their rally overnight from yesterday’s friendly Stocks and Production numbers, while corn also continues recovering. Soybeans stabilized overnight, as spreads adjust favoring wheat and corn over beans. Soybeans are still the protein that gets affected by the rising values of feed grains. On wheat, its likely…
Small Grains and Stocks Report 9/30/21 Report was bearish to soybeans and corn and very bullish to wheat
A firm overnight grain trade awaits crop report. Grain futures are firm overnight ahead of the USDA’s Small Grains and Stocks Report out at 11:00 a.m. today. Strength in French milling wheat futures as Emma dollar higher at ton, pushing the contract highs for the December contract. It’s currently trading at €247 per ton, which…
Grains price bounce overnight. Grain futures firmed overnight after the excessive selling they took on Turn-around Tuesday, as the market prepares for Thursday’s volatile Stocks data and wheat production report. Stock index futures are also on the rebound as the yield on the US 10-year note fell back to 1.5% overnight after hitting a yield…
Spec trade: Buy a Dec Chicago wheat at 709 GTC and place a stop on this and the long from 692.2 at 703. Major support arrives at 706-708.
Grains traded mixed overnight with beans lower. Grain futures were lower most of the evening with strength resurfacing in wheat, with French milling wheat overnight pushing to new September highs, and corn futures firming on the crude oil push back to the continuation price highs near 77.00. Strength in the US dollar is noted with…
Grain futures produced a mixed trade overnight. It was a mixed overnight grain session to start the week out, with both sides of unchanged traded the grain commodities. The volume of overnight trade was light compared to recent months, with the September USDA Stocks report due out this Thursday. Interesting is hedge pressure was not…