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]
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]