All eyes on Tuesday’s USDA Reports
The market is anticipating the acreage report and quarterly grain stocks report scheduled for release on Tuesday the 30th.
In the overnight session, the grains traded higher with corn up 5 1/2 cents, soybeans up 3 3/4 cents and wheat up 9 cents by the pause of trade this morning. The U.S. dollar is up only a fraction of a percent and crude oil is down 71 cents. All traders in long July grain contracts will need...[Read More]
What’s Really Driving the Wheat and Bean Markets?
Tune in for a packed episode as Cody looks at wheat and soybean pricing factors and how basis moved this week.
Grains Rally Sharply
Grains rally sharply early this morning as more rain is forecast to soak the already saturated Midwest.
In the overnight session the grains traded sharply higher with corn up 10 1/2 cents, soybeans up 19 1/2 cents and wheat up 26 3/4 cents this morning. Wheat has broken through resistance which hovered around $5.36 3/4 and is building momentum to the upside, soybeans has been above its 100 day...[Read More]
Concerns Mount as the Midwest Continues to Receive Substantial Moisture
Tune in for a look at continued short coverings, implications of a very wet Midwest, and export sales.
Can Export Sales Lift the Market
Export sales showed mostly average sales within the range of analyst expectations. Traders eye the June 30th WASDE report.
In the overnight session the grains traded higher with corn up 2 1/2 cents, soybeans up 8 1/4 cents and wheat up 2 1/4 cents. The U.S dollar is mostly unchanged this morning and crude oil has slipped 29 cents lower.
The EIA ethanol production numbers showed that last week’s production...[Read More]
Strong Ethanol Production Numbers
Cody reviews good demand fundamentals for ethanol and takes a look at the Allendale acreage survey.
Grains pull back in the overnight
The grains gave back some of the gains in the overnight session as traders prepare for the USDA planted acreage report to be released the end of June.
In the overnight session the grains traded lower with corn down 3 1/4 cents, wheat down 2 3/4 cents and soybeans down 6 1/2 cents. Crude oil is trading 10 cents lower and the U.S. dollar is down a fraction of a percent. The market will be focusing on the June 30th planted acreage numbers...[Read More]
Surprising Strength from the Grains
Even as the U.S. Dollar found relative strength U.S. grains traded higher. Cody reviews the technicals and world news to see what may have cause the rise.
U.S. Dollar to pressure grains this morning
The U.S. dollar, which has risen sharply overnight, is expected to put pressure on the grain complex this morning.
In the overnight session, the grains were mixed with corn up 1 cent, soybeans down 1 3/4 cents and wheat up 2 1/2 cents. Crude oil has slipped 57 cents lower this morning with the U.S. dollar index up by over 1 percent. The dollar gained some strength following U.S. housing data and the euro...[Read More]
Continued Support for Soybeans?[Read More]
Soybeans Push Higher
In the overnight the grains are higher with soybeans leading the charge up 7 1/2 cents, wheat up 4 1/4 cents higher and corn down 1/2 a penny. July soybeans now trades above $9.74 which is the 100 day moving average after closing Friday below that level. Crude oil is up 22 cents this...[Read More]
Weekly Cash Comments
Grain basis was mostly stable this week with both corn and soybeans unchanged for the week across the U.S.
Weather was the big concern this week as Tropical Storm Bill hit Texas and Oklahoma and made its way into the Ohio Valley by late in the week. Wet conditions are leading to not...[Read More]
Excess Moisture Slows Wheat Harvest
Grains were lower overnight with soybeans leading the complex to the downside with a 5-cent drop in the night session. Corn gave up 3 cents a bushel while wheat was fractionally lower.
Beans continue to find it difficult to trade for an extended time above $9.40 basis the new-crop...[Read More]
Grains Lower in the Overnight
Grains dipped lower in the night trade after taking a breather from the two-day rally that pushed soybean prices to their highest level in a month. Going into the morning break, soybeans were down 5, corn was down 1 and wheat was fractionally higher.
Wet weather continues to be a...[Read More]
Continued Recovery in the Overnight
Grain futures continued their recovery in the night session as heavy rains and declining crop conditions have the markets moving higher. Corn was up 3 cents a bushel while wheat and corn are up 6 cents a bushel.
In wheat, heavy rains from Tropical Storm Bill will push through Eastern...[Read More]
Grains Up in the Overnight
Monday brought a new week of intense selling pressure in the grains and Tuesday’s overnight trade found only a modest recovery from the lows established the day before. In night trade, wheat was up 4, corn was up 2, and nearby soybeans posted a 5 cent advance.[Read More]
Rains Pressure Grain Futures
Grains started the week with a continuation of last week’s selling. Going into the morning break, wheat was down 7 cents a bushel, soybeans were off 6 cents and corn gave up 2 cents a bushel.[Read More]
If the Grains Rally What Should You Be Paying Attention To?[Read More]
Wheat Harvest Underway
In the overnight session the grains were mostly unchanged with corn down 1 ½ cents, soybeans down ¼ cents and wheat up 1 ¼ cents going into this morning’s pause. The U.S. dollar is up .3 percent and crude oil is trading lower by 73 cents.[Read More]