Can wheat find some support today?
The wheat market continued lower this morning with continued pressure from the rising dollar.
In the overnight session corn is trading down 1 3/4 cents, soybeans are up 3 cents and wheat is down 8 cents going into this morning’s pause. The U.S. dollar is higher again this morning by .35 percent on continued worries out of Greece and the Euro zone. Crude oil is trading down 9 cents....[Read More]
Strength in the U.S. Dollar Pushes Grain Prices Lower
Cody looks at the continuing falling of grain prices, positive export inspections, weather and planting progress.
Cody looks at the continuing falling of grain prices, positive export inspections, weather and planting progress
US dollar up sharply
The US dollar is trading sharply higher this morning putting pressure on the grain complex.
In the overnight session the grains are trading lower with corn down 2 1/4 cents, soybeans down 1 cent and wheat down 4 3/4 cents. The U.S Dollar is trading up over a percent this morning and crude oil has slipped 68 cents. Japan is seeking to buy 100,262 metric tons of food quality wheat...[Read More]
Short Covering Rally
Cody reviews the overall downward trend from the grains and looks at where they might find support.
Weekly Cash Comments
Cash Commentary for week ending May 22nd
Basis levels for corn were off 1 cent for the week adding to the previous week’s losses, while soybean basis managed a 2-cent advance thanks to a sharply lower week on the futures market.
For corn, there was modest weakness along the river markets this week with a 3-cent loss at the Gulf...[Read More]
Wheat continues short covering correction
The wheat market continues its short covering correction higher this morning after four days of pause and consolidation near the 100 day moving average.
In the overnight session the grains traded higher with wheat leading the way up 4 3/4 cents, corn traded up 1 3/4 cents and soybeans up 1/4 cent. The U.S. dollar index is trading about a 1/4 percent higher this morning and crude oil is down 58 cents.
Yesterday, Agroconsult raised its...[Read More]
Bearish Trend Continues for Soybeans
New crop export sales took and unexpected turn. Check out our extensive breakdown.
Can export sales lift corn?
Export sales were positive this morning with strong old crop corn sales and a reportable sale announced early this morning.
In the overnight session the grains are trading higher, with corn up 1 1/2 cents, soybeans up 1 1/4 cents and wheat up 3 cents. The U.S. dollar is lower by 1/10th of a percent and crude oil is 48 cents higher. This morning a reportable export sale was announced for 152,400 metric tons of old...[Read More]
Ethanol Production Jumps
Ethanol production smashes through 2013 levels. Positive export sales are expected for the new crop grains.
GrainTV: Grains Find Resistance Today
GrainTV looks at what drove the market lower and export inspections[Read More]
Cooler Temperatures Could Shock the Wheat Market[Read More]
Corn Basis Softens[Read More]
Weekly Cash Comments
Corn basis was mostly unchanged for the week with US average basis levels stagnate. However, a late week increase in futures prices but cash corn basis levels on the defensive. For soybeans, basis levels posted a modest 1-cent a bushel advance as nearby futures prices gave up 18 cents on...[Read More]
NOPA numbers to be released mid-morning
In the overnight session the corn traded a 1/4 cent higher, soybeans traded 2 cents higher and wheat in Chicago fell 2 1/4 cents. Wheat traded sharply higher in yesterday’s session fueled by rapid short covering and is now close to its 100 day moving average at 521 3/4 which will most...[Read More]
Wheat Rallies Sharply[Read More]
Can Export Sales Lift the Markets?
In the overnight session the grains moved higher with corn up 2 3/4 cents, soybeans up 1/4 cent and wheat up 8 1/4 cents. The dollar index continues to move lower this morning following yesterday’s April retail numbers. Crude oil is down 30 cents this morning trading around the $60 mark.
... [Read More]
Grains Bounce on Weak Dollar
In the overnight session the grains traded higher with wheat up 4 cents, soybeans up 5 1/2 cents and corn unchanged going into the morning pause in trade. The U.S. dollar is trading down sharply this morning after retail sales revealed no growth in April. Crude oil is trading up 78 cents...[Read More]
WASDE Report Day[Read More]
Planting Progress Leaps Forward
Crop progress showed strong planting progress for the grains this week and improved wheat conditions after the market closed yesterday. Corn planting jumped 20% last week with 75% of the crop now planted, well ahead of the four year average of 57% complete during the same time period. ... [Read More]