Market Awaits Crop Progress
The grains were mixed on Monday with corn and wheat cupping over on lows printed over the last two weeks
The market is anticipating the crop progress report out which will show the planting progress over the last week and give us an update on the condition of the winter wheat crop. The winter wheat crop rating has held steady at 42% good to excellent over the last two weeks after recent...[Read More]
U.S. Dollar Gains Strength and Nationwide Basis Sees an Increase
Tune in for an update on the current bird flu situation and weekly basis changes.
Weekly Cash Comments
Cash Commentary for week ending 01 May
Corn continued to find selling pressure in the futures market this week giving up 8 cents a bushel, while soybeans were unchanged for the week. For cash markets, corn basis posted a modest 1-cent advance on average across the US while soybeans were unchanged on the week.
Grains Mixed Headed into Friday
The grains were mixed going into Friday's trade session with more strikes at Argentina ports stalling export activity.
In the overnight session the grains are mostly steady with corn down 1/4 of a penny, soybeans off a half penny and wheat up 1 1/4 cents. The U.S. dollar is up a fraction of a percent and crude oil has fallen 18 cents.
Yesterday, the Buenos Aires grain exchange reported an increase in...[Read More]
Unexpected Export Sales Report
Tune in to hear about unexpected cancellations and underestimates as well as an update on South American exports.
Surprising Export Sales
This morning export sales surprised analyst expectations with wheat seeing significant old crop cancellations and soybeans booking over 400,000 metric tons of old crop sales.
In the overnight session the grains moved higher with corn up 1 1/2 cents, soybeans up 6 1/2 cents and wheat up 3 1/4 cents going into this morning’s pause in trade. The dollar index was trading lower most of the night, but has found some buying support underneath the 100 day moving average...[Read More]
Dollar Decline Helps Grain Prices
Cody reviews how the dollar decline, export sales expectations, and ethanol production affected grain prices today.
Dollar Sinks on Weak U.S. GDP
The grains are trading slightly higher, lifted by a falling dollar after GDP numbers disappointed traders this morning.
In the overnight session corn was up 2 1/2 cents, soybeans up 1/4 of a cent and wheat increased 3 1/2 cents. A reportable sale was announced yesterday with 390,000 metric tons of new crop soybeans sold to unknown destinations. This morning another reportable sale was announced for 130,000...[Read More]
Volatile Day of Trading
Cody recaps today's market and explains why he is skeptical of price gains this week.
Soybeans Pop in the Overnight
In the overnight session the grains were mixed with corn up 1 1/2 cents, soybeans up 9 1/4 cents and wheat down 2 1/4 cents. First notice day for May grain contracts is Thursday the 30th. Be sure to either liquidate or roll those may contracts by the close of trade on Wednesday.
Grain TV[Read More]
Grains Pressured on Monday Morning
In the overnight session the grains traded lower with corn down 2 1/4 cents, soybeans up 1/2 a cent and wheat down 2 cents going into the morning pause in trade. Crude oil is down 28 cents and the U.S. dollar is trading a fraction of a percent higher. Exporters reported 158,000 metric tons...[Read More]
Weekly Wrap Up[Read More]
Weekly Cash Comments
Grain basis levels were modestly higher this week with both corn and soybeans posting an anemic 1-cent a bushel gain on average across the US this week.
In corn, it was a quiet week for export basis with the Gulf basis unchanged. River terminals found only modest strength with barge...[Read More]
Corn Weak on Prospects of Record Argentina Crop
In the overnight session the grains traded lower with corn down 2 cents, wheat down 1 3/4 cents and soybeans down 3 3/4 cents. The U.S dollar index is down 1/4 of a percent and crude oil is off 11 cents this morning. This morning a reportable export sale was announced for 121,400 metric...[Read More]
Brazilian Truckers Back on Strike[Read More]
Strong Export Sales Lift Grains
In the overnight session corn, soybeans and wheat are trading higher with corn up 1 cent, soybeans up 4 3/4 cents and wheat up 3 1/2 cents. The dollar is trading down nearly 1/4 of a percent and crude oil is up 56 cents a barrel.
Export sales were very positive today for the grains...[Read More]
Ethanol Production[Read More]
Corn Lower Again in the Overnight
In the overnight session the grains were mixed with corn down 1 3/4 cents, soybeans down 3 3/4 cents and wheat up 1 1/4 cents going into this morning’s pause in trading. The U.S dollar is trading mostly unchanged and crude oil is off .25 percent.[Read More]