Soybeans firm on Argentine drought, corn and wheat soft. Grain futures are mixed this morning, with the wheat market sagging alongside French milling wheat values and corn drifting lower with the declining crude oil, which has been down over $$2.00 a barrel over the slowing prospects of China increasing energy purchases soon with rising Covid…
Soybeans and corn higher, wheat softer to start the new year. This first trading day of the new year has grains anticipating a mixed opening. Soybeans are called 5-10 higher with corn 1-3 higher, while wheat is indicated 2-5 lower with losses on French milling wheat. Some forecasted rains did fall over key Argentine crop…
Soybeans firmer on absent rain in Argentina forecast models. The last trading day before the New Year break has grains mixed with the soy complex higher as a result of Argentina moisture still lacking. Soybeans are up 14 cents while corn is up 1 and wheat markets mixed. The chances of moisture falling in Argentina…
Wheat stumbles on competition. Grain futures corrected overnight as the wheat market has come to grips with the rally it’s experienced alongside corn and soybeans has been met by a readily available supply out of Russia. Wheat exports for December out of Russia are now pegged at 4.0-4.4 MMTs when just two weeks ago, the estimates…
EU weather models reduce Argy rain. The overnight grain trade was mixed for corn and wheat while the soybean market quickly added premium back in with, with the March soybean contract recovering back to the 15.00 mark, as the afternoon forecasts substantially reduced the weekend rainfalls for Argentina. The mid-day models on Tuesday implied better…
China cancels remaining Covid restrictions. Grain futures are set to open higher on the restart of trading this week, with soybeans anticipated 5-10 higher while wheat and corn look 3-5 cents higher. Over the weekend, China lifted the remaining portion of their covert restrictions, which included no longer quarantining inbound travelers starting on January 8….
Cattle On Feed On Feed: 97% vs 97.1% estimate Placed: 98% vs 95.7% estimate Marketed: 101% vs 100.9% estimate Hogs and Pigs All Hogs and Pigs: 98% vs 98.5% estimateKept For Breeding: 98% vs 99.8% estimateKept For Marketing: 100% vs 98.4% estimate Cattle numbers came out neutral to barely negative based on placement numbers.Hog numbers came out friendly for the…
Grains firmer this morning on outside market improvement. The last trading day before Christmas weekend shows thinning volume as many traders take this time of year off. However, the South American weather market will remain. Forecasted rain over the weekend for Argentina remains, we will monitor the effectiveness of the rains and determine price direction…
Mixed grains this morning with rain forecasts and Ukraine/Russia supply risks Weather models show a change in precipitation chances for Argentina with a 5-day forecast of 1-2 inches possible. Almost an inch of rain fell in Argentina last night over a vast area of the country. Extended models are showing January to have moisture and…
