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
China lowered reserve rates at their banks helping to boost liquidity and support a sputtering economy.
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
Cody reviews this week's prices and basis changes and looks at the long term change in barge rates.
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]