Monday Mycotoxin and Crop Report: August 10, 2015
China’s Yuan Falls Sharply in the Overnight
The sharp drop in the Chinese Yuan rippled throughout global markets last night and triggered selling in commodities.
In the overnight session the grains are trading lower with corn own 6 1/4 cents, soybeans down 14 3/4 cents and wheat down 7 3/4 cents. The U.S. dollar is lower by .17 percent and crude oil is trading lower by over a dollar. China policy makers cut its daily reference rate by 1.9 percent...[Read More]
Grains Rally in Anticipation for Wednesday’s Reports
Cody discusses today's rally, crop conditions and the weather outlook for the rest of the week.
Grains Start the Week on a Strong Note
Grains start higher on Monday, but two reports scheduled for release on Wednesday will dominate price direction for the second half of the week.
In the overnight session the grains traded higher with corn up 4 cents, soybeans up 7 1/2 cents and wheat up 1/2 cent this morning. The U.S. dollar is trading .16 percent higher and crude oil is up 21 cents this morning. Traders will be focusing on the Crop Production report and Supply and...[Read More]
Will Next Week’s Crop Report be Worth the Wait?
Cody looks at news that may be influencing the crop report next week.
Weekly Cash Comments
Cash Commentary for week ending August 7th
Grain futures were mostly stable this week as traders’ awaited fresh news on the crop supply situation from USDA’s August 12th report. In the cash market, average basis levels across the country were mostly unchanged for soybeans but up 2 cents a bushel on the week for corn.
For corn,...[Read More]
Will soybeans break through resistance?
Will dry conditions in the 6-14 day forecast give soybeans enough energy to finally break above the 100 day moving average?
In the overnight session the grains are trading slightly higher with corn unchanged, soybeans up 3 cents and wheat up 2 cents. The U.S. dollar is trading .35 percent higher this morning and crude oil is lower by 25 cents. U.S. employment figures were better than expected this morning with...[Read More]
Export Cancellations Pressure Prices
Cody breaks down the export sales reported out this morning and explains what this means to the farmer.
Strong Wheat Sales Lift the Grain
Strong wheat sales helped provide support for the grain, but significant cancellations is putting pressure on soybeans which bumped against the 100 day moving average yesterday.
In the overnight session the grains were mixed with corn up 1/2 cent, soybeans down 6 cents and wheat up 6 1/4 cents this morning. The U.S dollar is higher by only a fraction of a percent and crude oil is down 53 cents this morning. This morning exporters sold 132,000 metric tons of soybeans...[Read More]