Grains Rally Sharply
Grains rally sharply early this morning as more rain is forecast to soak the already saturated Midwest.
In the overnight session the grains traded sharply higher with corn up 10 1/2 cents, soybeans up 19 1/2 cents and wheat up 26 3/4 cents this morning. Wheat has broken through resistance which hovered around $5.36 3/4 and is building momentum to the upside, soybeans has been above its 100 day...[Read More]
Concerns Mount as the Midwest Continues to Receive Substantial Moisture
Tune in for a look at continued short coverings, implications of a very wet Midwest, and export sales.
Can Export Sales Lift the Market
Export sales showed mostly average sales within the range of analyst expectations. Traders eye the June 30th WASDE report.
In the overnight session the grains traded higher with corn up 2 1/2 cents, soybeans up 8 1/4 cents and wheat up 2 1/4 cents. The U.S dollar is mostly unchanged this morning and crude oil has slipped 29 cents lower.
The EIA ethanol production numbers showed that last week’s production...[Read More]
Strong Ethanol Production Numbers
Cody reviews good demand fundamentals for ethanol and takes a look at the Allendale acreage survey.
Grains pull back in the overnight
The grains gave back some of the gains in the overnight session as traders prepare for the USDA planted acreage report to be released the end of June.
In the overnight session the grains traded lower with corn down 3 1/4 cents, wheat down 2 3/4 cents and soybeans down 6 1/2 cents. Crude oil is trading 10 cents lower and the U.S. dollar is down a fraction of a percent. The market will be focusing on the June 30th planted acreage numbers...[Read More]
Surprising Strength from the Grains
Even as the U.S. Dollar found relative strength U.S. grains traded higher. Cody reviews the technicals and world news to see what may have cause the rise.
U.S. Dollar to pressure grains this morning
The U.S. dollar, which has risen sharply overnight, is expected to put pressure on the grain complex this morning.
In the overnight session, the grains were mixed with corn up 1 cent, soybeans down 1 3/4 cents and wheat up 2 1/2 cents. Crude oil has slipped 57 cents lower this morning with the U.S. dollar index up by over 1 percent. The dollar gained some strength following U.S. housing data and the euro...[Read More]
Continued Support for Soybeans?
Cody's back and breaks down export inspections, soybean technicals, weather reports, and crop progress.
Soybeans Push Higher
The soybean market pushed higher above the 100 day moving average early Monday morning.
In the overnight the grains are higher with soybeans leading the charge up 7 1/2 cents, wheat up 4 1/4 cents higher and corn down 1/2 a penny. July soybeans now trades above $9.74 which is the 100 day moving average after closing Friday below that level. Crude oil is up 22 cents this morning...[Read More]
Weekly Cash Comments
Cash Commentary for week ending June 19
Grain basis was mostly stable this week with both corn and soybeans unchanged for the week across the U.S.
Weather was the big concern this week as Tropical Storm Bill hit Texas and Oklahoma and made its way into the Ohio Valley by late in the week. Wet conditions are leading to not only...[Read More]