Corn Basis Softens
Fundamentally, the grain market didn't see many changes. However, there are upcoming events that demand attention. Cody reviews these as well as weekly basis changes. Don't miss today's episode.
Weekly Cash Comments
Weekly Cash Commentary for week ending May 15
Corn basis was mostly unchanged for the week with US average basis levels stagnate. However, a late week increase in futures prices but cash corn basis levels on the defensive. For soybeans, basis levels posted a modest 1-cent a bushel advance as nearby futures prices gave up 18 cents on the...[Read More]
NOPA numbers to be released mid-morning
Traders are anticipating NOPA crush numbers which are scheduled for release at 11 AM CST.
In the overnight session the corn traded a 1/4 cent higher, soybeans traded 2 cents higher and wheat in Chicago fell 2 1/4 cents. Wheat traded sharply higher in yesterday’s session fueled by rapid short covering and is now close to its 100 day moving average at 521 3/4 which will most likely...[Read More]
Wheat Rallies Sharply
Cody gives an expert analysis of what moved the wheat market today as well as a break down of the export sales report.
Can Export Sales Lift the Markets?
Export sales were released this morning revealing lackluster demand.
In the overnight session the grains moved higher with corn up 2 3/4 cents, soybeans up 1/4 cent and wheat up 8 1/4 cents. The dollar index continues to move lower this morning following yesterday’s April retail numbers. Crude oil is down 30 cents this morning trading around the $60 mark.
Grains Bounce on Weak Dollar
The sharp drop in the U.S. dollar has supported the grains this morning after Tuesday’s WASDE report.
In the overnight session the grains traded higher with wheat up 4 cents, soybeans up 5 1/2 cents and corn unchanged going into the morning pause in trade. The U.S. dollar is trading down sharply this morning after retail sales revealed no growth in April. Crude oil is trading up 78 cents...[Read More]
WASDE Report Day
Tune in to hear Cody break down reaction from today's WASDE and South American exports.
Planting Progress Leaps Forward
In the crop progress report released after the close of yesterday’s trade session corn, soybeans and spring wheat plantings
Crop progress showed strong planting progress for the grains this week and improved wheat conditions after the market closed yesterday. Corn planting jumped 20% last week with 75% of the crop now planted, well ahead of the four year average of 57% complete during the same time period. ...[Read More]