Weekly Cash Comments
Weekly Cash Commentary for week ending April 17
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 a...[Read More]
Wheat Prices under Pressure
Wheat prices have come under pressure from increased precipitation throughout the plains, weak export sales and the possibility Russian export taxes being lifted after July 1st.
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?
Cody speculates where corn, soybean, and wheat prices will go and reviews the export sales report.
Soybean Sales Beat Expectations
Export sales showed a stark contrast between wheat and soybeans this morning. Can yesterday’s NOPA crush numbers and this week’s export sales help propel soybeans higher into Friday?
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
Wheat prices continue to fall as weather forecasts improve. Cody also discusses NOPA Crush and Ethanol Reports.
Soy Market Focused on NOPA Crush
The soybean market will be watching the NOPA crush numbers this morning with expectations for a record March soybean 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
Cody looks at the factors driving wheat prices lower and gives his opinion on whether soybeans will break their sell-off pattern.
Wheat Continues to Slide on Improved Weather
The wheat market continues to slide lower after weather has turned favorable for the drought stricken plains region.
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]
Wheat Drops After Weekend Precipitation
In the overnight session corn traded down 2 cents, soybeans traded up 1 1/4 cent and wheat traded down 14 3/4 cents this morning on timely rains over the weekend that lowered concerns of serious crop damage from the dry conditions developing across the panhandle, western Oklahoma and...[Read More]
Weekly Wrap Up[Read More]
Weekly Cash Comments
Grain basis levels were only modestly stronger this week across the country with US average corn and soybean basis up about a half a cent from last week.
In corn, strength in the Gulf export market helped push bids higher along river terminals. Average bids were up 2 cents a bushel this...[Read More]
Can Grains Rebound on Friday?
The grains were steady and mostly unchanged in the overnight with corn up 1/4 cent, soybeans up 1/2 a cent and wheat down 3/4 of a penny. The dollar is trading higher and crude oil is mostly unchanged this morning. Yesterday the April USDA supply and demand report was released which seemed...[Read More]
Mixed Export Sales Report[Read More]
Soybean Export Sales Disappoint
In the overnight session the grains traded lower with corn down 1 1/2 cents, soybeans down 5 1/2 cents and wheat down 4 cents going into this morning’s pause in trade. Keep a close watch on the WASDE report which will be released at 11 CST.
Export sales were released this morning which...[Read More]
Grain TV: Ethanol Production and WASDE Report
With increased uncertainty in the energy market Cody discusses the possibility of a decline in ethanol prices. Cody also breaks down today's WASDE report.[Read More]
What You Need to Know for Thursday’s WASDE Report
In the overnight session the grains traded slightly higher with corn up 1/2 a cent, wheat up 1 3/4 of a cent and wheat up 1/2 a penny. The market will be receiving the EIA ethanol production numbers today and the monthly WASDE report will be released on April 9th at 11 AM CST.
WASDE Expectations[Read More]
Grains Slip Lower in the Overnight
In the overnight session, the grains traded lower with corn down ½ cent, soybeans down 3 cents and wheat down 5¼ cents[Read More]