Russia is banned from SWIFT. It was another dramatic start for the week in the commodity trade, with prices sharply higher on the opening as Russia has been removed from the SWIFT international banking clearing exchange. Rumors exist that China will allow Russia to work with its international clearing system (CIPS) that it uses worldwide…
Cattle On Feed 2/25/22 On Feed: 101% vs 100.7% estimatePlaced: 99% vs 98.6% estimateMarketed: 97% vs 97.1% estimate Report came in neutral to pre-report estimates and is neutral for Monday’s resumption trade.
Spec Trade: Buy 2 April Micro-Gold at the MKT, 1891 last with a 1845 stop.
Spec Trade: Buy a July corn limit down at 643.4 GTC with a 626 stop Looking at the July corn chart, you can see the 4-hour chart support comes in at limit down.If the moving average gets bumped, it typically holds if it pushes through by another 10-14 cents before resolving back to the upside….
Commodities decline sharply overnight After a firm start on the evening session, grain futures tumbled in the early morning European hours as the sanctions were released, and agricultural and energy products were not on the list. It was widely suspected this would be the case, but apparently, the market thought otherwise prior. This means as…
Hedge recommendation: sell another 10% of new crop production on the opening for corn and soybeans. On today’s opening, forward sell another 10% of new crop corn and new crop beans for the upcoming growing season. December corn is over 636 with November beans over 1512 after achieving the 1550 mark overnight, and corn coming…
Commodity prices move sharply higher Grain futures moved sharply higher as Vladimir Putin pushed into Ukraine overnight on what he calls a Special Military Operation, but the rest of the world calls an invasion. He is moving to demilitarize Ukraine and to assure NATO advancement does not occur on his Western front. This has caused…
Malaysian palmoil pulls bean oil higher. Grain futures continued higher in the night session, with wheat maintaining yesterday’s gains and Malaysian palmoil again setting new historical highs on supply tightness, pulling soybean oil higher in its wake, which also carries beans to new contract highs. Last night the March bean contract got within $0.12 of the…