Grains find resistance after two day rally
The grains ran into some selling pressure in the overnight as each commodity tests resistance levels on the daily chart.
In the overnight session the grains found some selling pressure near resistance levels. Corn is down 1/2 cents, soybeans are down 3 cents and wheat is down 8 1/4 cents on the day. The Dollar index is trading slightly higher this morning and crude oil is lower by a percent.
Corn is...[Read More]
Grains Higher on Falling Dollar
The grains are trading higher today as the dollar continues its slide following the FOMC meeting that removed the chance that the first rate hike would occur in June.
In the overnight session the grains moved higher with corn up 4 1/2 cents, soybeans up 6 3/4 cents and wheat up 6 1/2 cents going into this morning’s pause in trade. The U.S. dollar is pulling back this morning continuing the sell-off on Friday. Corn is currently trading at $3.89 near its 50...[Read More]
U.S. Dollar Decrease Proves Helpful to Grain Prices
Cody and Kevin break down the move higher and discuss weekly basis changes and Informa numbers.
Weekly Cash Comments
Cash Commentary for week ending March 20
Grain futures came under pressure this week as US dollar strength and slow export business took its toll on the market. In the cash market, there was little movement in basis by grain buyers as a whole with U.S. average soybean basis unchanged for the week while corn basis gained only 1-cent...[Read More]
Will we get a Friday rebound?
The grains positive over the night session as the dollar pushes lower.
In the overnight session the dollar pulled back slightly helping grains push higher. Going into the morning pause corn was up 2 1/4 cents, soybeans were up 3 1/4 cents and wheat was up 5 3/4 cents. Keep in mind that at 10:30 CST this morning Informa will release their latest crop planting...[Read More]
Export Sales Breakdown
Cody goes in depth about why analysts are expecting a decline and flattening of export sales.
Dollar Triggers Overnight Volatility in Grains
The U.S. dollar traded sharply lower following the FOMC minutes yesterday triggering the grains to jump in the first few minutes of the overnight session.
The overnight session saw significant volatility with the U.S. dollar selling off sharply following the FOMC statement and then recovering in the overnight to an index level of 99.20. Corn, soybeans and wheat all gapped higher in the opening 5 minutes of the night session and spent the...[Read More]
Market Reaction to FOMC Statement
Cody and Kevin break down the FOMC statement and discuss ethanol production
Grains Bounce Overnight
The grains recovered a couple pennies in the overnight after hard selling during yesterdays session that chart support levels broken.
In the overnight session the grains rebounded a bit after breaking through key support yesterday. The dollar index remains steady and crude oil has fallen a dollar overnight. Corn is up 2 1/4 cents, soybeans are up 6 cents and wheat is up 2 1/2 cents this morning. Today the FOMC statement...[Read More]