Soybeans Climbed to New Heights Overnight
US Dollar was making a run at 7 days of losses
Soybeans climbed to new heights overnight while corn and wheat posted modest gains. In outside markets, the US dollar index was making a run at 7 days of losses while equity futures and crude oil were also weaker.
Necessary Support for Soybeans to Keep Climbing Higher
Grains Subdued in The Overnight Session
US Dollar hit fresh lows late in the morning session.
Grain markets were subdued overnight with grains showing modest losses in fairly limited trade. In outside markets, the US dollar hit fresh lows late in the morning session while crude oil was weaker on the night but was coming back closer to unchanged.
Weekly Cash Comments
Weekly Cash Commentary for week ending 04/29/2016
Grain basis was flat this week with both corn and soybean basis holding steady at week ago levels.
Corn Finds Strength Overnight
Crude Continues to Climb
Corn found more strength overnight while soybeans was off slightly but improved from its lows on the nights. Wheat was higher as well. In outside markets, crude oil continued to climb getting above $46 a barrel while the US dollar came under pressure.
Why US Exports Are So Strong
If you watch one video about US exports, let it be this one. Kevin gives a massive breakdown of the driving forces behind strong US exports. Don't miss this one.
Corn and Soybeans Posted Small Losses in the Overnight Session
In the outside markets, US Dollar Continues to Sink
Grains were mixed overnight with corn and soybeans posting small losses while wheat posted a modest gain. In outside markets, the US dollar continued to sink while crude oil had a modest drop after hitting fresh highs in the previous session.
Bullish Support for Soybeans?
Grains Weaker Overnight
Crude Oil continues to hit fresh highs
Grains were weaker overnight but seemed to finding some pullback heading into the morning break. Meanwhile, crude oil continues to hit fresh highs on this rally, posting a $1 a barrel gains going into the day while equity futures were sharply lower.
July Soybeans Are Ones to Watch