Weekly Cash Comments
Weekly Cash Commentary for week ending April 24
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
The agricultural ministry announced Argentina is anticipating a record corn harvest and raised their forecast by 1 million metric tons yesterday.
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 tons...[Read More]
Brazilian Truckers Back on Strike
Tune in to hear the export sales update and a discussion of the implications of the new Brazilian trucker strike.
Strong Export Sales Lift Grains
The grains got a nice shot of positive news after export sales were announced this morning well above analyst expectations.
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]
Cody reviews ethanol production trends, weekly weather, and gives an update of the current Bird Flu situation in Iowa.
Corn Lower Again in the Overnight
The corn market is pressured again this morning by the rising concern of bird flu and its effects on U.S. poultry
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.
Reports of Bird Flu
Cody takes a look at how the news of bird flu will affect feed usage and discusses the Brazilian Real.
Winter Wheat Conditions Unchanged
On Monday the USDA's crop progress report pointed to an unchanged winter wheat rating despite the rain that went through the plains last week.
The grains are all trading lower in the overnight with corn down 3 3/4 cents, soybeans down 1 1/4 cents and wheat down 3/4 cents going into the pause. The U.S dollar is trading a fraction of a percent higher and crude oil is mostly flat after consolidating for the last couple days.
China Reserve Rates Support Soybeans
In the overnight session corn is down 1 3/4 cents, soybeans are up 4 1/2 cents and wheat in Chicago is up 1 1/2 cents. The U.S dollar is trading nearly .5 percent higher this morning with crude oil down .75 percent. Over the weekend china’s central bank cut the reserve requirement by 100...[Read More]
Weekly Wrap Up[Read More]
Weekly Cash Comments
Grain basis levels continued to stagnate this week with both corn and beans each posting less than a 1-cent improvement on the week.
In corn, the biggest movement occurred at the Gulf where export bids were up 3 cents a bushel on nearby basis, but river terminals as a group posted only...[Read More]
Wheat Prices under Pressure
In the overnight session corn is down 3/4 of a penny, soybeans are up a cent and wheat is up 3 1/4 cents. The dollar is trading slightly higher this morning, now hovering at 97.640 while crude oil is trading down nearly a percent after news that OPEC’s production in March added to the...[Read More]
Grains to Trade Higher?[Read More]
Soybean Sales Beat Expectations
In the overnight session corn and soybeans traded a relatively wide range but went into the morning pause mostly unchanged. Wheat increased 3 1/4 cents in the overnight and the U.S. dollar index continued its slide for the third straight day. Crude oil is also trading lower this morning off...[Read More]
NOPA Crush and Ethanol Reports[Read More]
Soy Market Focused on NOPA Crush
In the overnight session the grains were mixed again with corn down 2 cents, soybeans up 1 3/4 cents and wheat in Chicago up 3 cents. The NOPA crush numbers will be released at 11 AM CST this morning which is expected to show a record amount of soybeans crushed for the month of March....[Read More]
Wheat Continues to Trade Lower[Read More]
Wheat Continues to Slide on Improved Weather
In the overnight session the grains were mixed with corn up a penny, soybeans up 7 cents and wheat in Chicago down 2 1/4 cents. The June U.S dollar index is trading down slightly after trading over 100 during yesterday’s session. Crude oil is trading up 3/4 of a percent. In the overnight...[Read More]