Will Wheat Take Out $4?
Soybeans Hold on to Strong Gains
Yesterday's Crop Report confirmed the big crops in South America
Yesterday’s crop report confirmed the big crops in South America. Brazil’s soy crop was pegged at 111 MMT, up from USDA’s March forecast of 108 and above industry acreage expectations of 109.9.
Grains Mixed Heading into the USDA Report
US Dollar and Equities in Negative Territory
Grains were mixed heading into the USDA report with soybeans holding on to a modest gain while corn and wheat sunk lower.
USDA Crop Report to be Released Tomorrow
Grains in Positive Territory to Start the Week
Grains were in positive territory to start the week led by soybeans. In outside markets, crude oil was also showing impressive gains, hitting its highest mark in a month.
Weekly Cash Comments
Weekly Cash Commentary for week ending 04/07/2017
Grain basis moved higher this week with soybeans advancing 1.5 cents a bushel on average across the US while corn basis was up a modest 0.8 cents a bushel.
Grains Were Mixed and Range Bound in Overnight Trading
Crude Oil inching higher
Grains were mixed and range bound in overnight trade action. In outside markets, equity markets were fractionally lower while the US Dollar index tried to eclipse the 101 mark for the first time in two weeks.
Grains Stagnated in the Overnight Session
Outside Markets Saw Crude Oil trying to Recover
Grains stagnated overnight following yesterday’s soybean advance, which was sadly the biggest daily gain in 25 trade sessions on a 6-cent gain.
Soybeans Find Strength in the Overnight
In Corn, Trade Moved Lower Yesterday
Rains over the last week have raised concerns about the Argentine soybean crop as harvest gets underway.