Could India Grain Production Lift the Markets?
The markets rallied sharply yesterday on the back of a dollar sell-off and concerns about India grain production.
In the overnight session the grains are trading slightly lower with corn down 3/4 of a cent, soybeans down 4 1/4 cents and wheat down 1 1/4 cents going into this morning’s pause in trade. Crude oil is down $1.04 this morning and the U.S. dollar has rallied back nearly 1/2 a percent from the...[Read More]
Support for Grains Across the Board
Even with strong support Cody looks at whether or not these prices can be sustained.
Winter Wheat conditions decline in Texas and Colorado
Winter Wheat rated good to excellent fell by 1 percent throughout the U.S. in the latest crop progress report issued out on Monday.
In the overnight session the grains traded higher with corn up 2 1/4 cents, soybeans up 8 1/2 cents and wheat up 4 1/2 cents going into this morning’s pause in trade. The U.S. dollar index has fallen nearly 3/4 of a percent and crude oil is 55 cents higher this morning.
Yesterday, crop...[Read More]
Bearish Wheat Trend is Sustained
Cody talks about pricing strategies for these spikes in wheat prices. Export inspections, weather, and crop progress are also covered.
Grains Quiet on Monday
The grains are mostly unchanged with the exception of soybeans on Monday morning.
In the overnight session the grains were mixed with corn lower, soybeans down 3 3/4 cents and wheat up 1 1/4 cents. The U.S. dollar is trading slightly higher with crude oil down 28 cents this morning. On Friday, the grain crushers strike in Rosario Argentina was resolved which should have a...[Read More]
Weekly Cash Market Update
Tune in to watch Cody discuss the weekly export sales and talk about the basis changes throughout the country.
Cody discusses this week's export sales and the basis movement around the country.
Weekly Cash Comments
Cash commentary for week ending May 29
It was another week lower in the grain futures markets as the prospects of another bumper crop this fall keep prices on the defensive. In the cash market, basis levels only showed modest improvement for soybeans, which gained 1-cent a bushel while corn basis was unchanged for the week.
Chart of Note: Colombia On Track To Again Fill Duty-Free Quota Before Year’s End
The large increase in the past two years was made possible by both greater availability and the U.S.-Colombia free trade agreement
This week’s U.S. Grains Council’s Chart of Note illustrates that Colombia is importing a similar amount of U.S. corn in the first four months of this calendar year as compared to last year and will likely exhaust its duty-free quota soon.
Can exports lift soybeans?
Export sales continue to outperform for soybeans late in the marketing year.
In the overnight session the grains were mixed with corn up 2 1/2 cents soybeans down 1/2 a cent and wheat down 1 1/2 cents. The U.S. dollar is mostly unchanged with crude oil 74 cents higher. Rains are likely to continue in the southern plains over the next few days and then a drying trend...[Read More]