Morning Update 5/19/22

ByIvan

Risk-off continued overnight with equity and energy. After a firm start overnight, corn and wheat prices move lower to sharply lower overnight following the long liquidation and risk-off attitude of the stock market and energy markets. Also, there is the discussion of UN efforts to restart grain exports out of Ukraine. Still, in the talks,…

Morning Update 5/18/22

ByIvan

Wheat futures correct overnight. Wheat futures corrected in price overnight, as India further opened up the possibility of shipping wheat to neighboring countries such as Bangladesh and Pakistan. This has some in the trade wondering what the ban really implies, other than it doesn’t want to sell wheat to the world, just to neighbors. Even…

Morning Update 5/17/22

ByIvan

India wavering promotes Turn-around Tuesday. After the initial higher start in wheat, grain futures pushed lower in the night session as turnaround Tuesday came into force. Overnight, India stated it would allow the 500,000 metric tons of wheat requested by Egypt to be shipped and other contracts initiated before May 13. This brought a round…

Morning Update 5/16/22

ByIvan

Wheat leads overnight price strength. Grain futures opened sharply higher Sunday evening as anticipated on the Indian wheat export ban, with wheat futures briefly touching limit gains before retreating. Paris French milling wheat is up $17 a ton this morning, which is the equivalency of $0.50, reflecting the gains of Kansas City and Chicago in…

Morning Update 5/13/22

ByIvan

French milling wheat, spring wheat and Dec corn make new contract highs overnight. Grain futures are mixed in the morning session after overnight action found French milling wheat, spring wheat, and December corn making new contract highs on follow-through buying from yesterday’s friendly constructed WASDE crop report for wheat and corn. Soybean prices also firmed…