Grains Start the Week with a Negative Tone
Crude Oil also Falling Lower
Grains started the week with a negative tone following last week’s strong performance. In outside markets, crude oil was falling lower while the US Dollar was holding around the unchanged mark.
Weekly Cash Comments
Weekly Cash Commentary for week ending 02/10/2017
Grain basis reversed course from recent trends with corn basis moving lower while soybean basis moved higher.
USDA Supply and Demand Report Showed Bullish News for Wheat
US Dollar and Crude Oil Extending Their Gains
Soybeans posted modest gains overnight trying to recover some of yesterday’s losses while wheat and corn were mostly stable. In outside markets the US dollar and crude oil were extending their gains from yesterday.
Wheat Gets Boost from Lower Stocks
Grains Slipped Overnight Ahead of USDA Report
Crude Oil was Pushing Higher
Grains slipped overnight ahead of USDA’s crop report at 11 am CDT today. In outside markets, crude oil was pushing higher back into the mid $52 range while the US dollar was mostly steady.
Pre USDA Report Outlook
Soybeans Continue to Strengthen
Crude Oil Continues to Slip Lower
Soybeans continued to strengthen overnight while corn and wheat slipped lower following yesterday’s positive gains. In outside markets crude oil continued to slip lower hitting its lowest mark since December.
Grains Gain More Ground
Monday Saw Good Export Inspections
Grains Were Mildly Weaker in Overnight Trade
Grains were mildly weaker in overnight trade, while the US dollar surged to a one-week high.