Grains Limited in the Overnight
U.S. crude futures were off sharply on Monday, losing $2 a barrel
Grains continued to be tied limited overnight, while outside markets were under pressure yet again.
After the close yesterday, USDA’s monthly industrial use reports showed soybeans crushed in December were 167.0 MB versus trade expectations of 167.3 MB.
US Exports to Continue to Fall Short
As the US Dollar gains strength Kevin looks at the historical trends and gives his thoughts on what will happen this year.
Grains Lost Ground in the Overnight
Oil found itself on the defensive as economic data from China showed the manufacturing sector contracted at the fastest pace since 2012.
Grains lost ground overnight after closing sharply higher on Friday. Likewise, crude oil and S&P futures were deep in negative territory to start the week.
Weekly Cash Comments
Weekly Cash Commentary for week ending 01/29/2016
Grain basis moved lower this week as a two-week recovery in the futures market seemed to run into headwinds. Farmer selling, especially in the Western Cornbelt has put basis on the defensive.
EIA Report Shows Decline in Ethanol Production
Grains moved lower overnight as the lack of fresh news keeps a lid on this rally off of Jan 12th lows.
Grains moved lower overnight as the lack of fresh news keeps a lid on this rally off of Jan 12th lows. In outside markets, S&P futures were on a positive trajectory to start the day following yesterday’s 1% loss while crude oil was also in positive territory with modest gains....[Read More]
Instability in the Ethanol Market
Grains Sluggish Yet Again
Grains were sluggish yet again overnight with wheat falling after solid advances in the past four days. Corn also drifted lower while soybeans posted a slight advance.
Grains were sluggish yet again overnight with wheat falling after solid advances in the past four days. Corn also drifted lower while soybeans posted a slight advance. In outside markets, the see-saw patterns continued with S&P and crude oil futures making relatively big declines before...[Read More]
How to Use Retracements to Help Predict Key Resistance Levels
Grains were Modestly Weaker in the Overnight
Outside markets for the S&P and crude oil were modestly higher following Monday’s sell-off.
Grains were modestly weaker overnight, while outside markets for the S&P and crude oil were modestly higher following Monday’s sell-off.
In weather, showers exited southeast Buenos Aires, northeast Cordoba, northern Santa Fe, northern Entre Rios, and minor production areas in northeast...[Read More]