Will Wheat Bounce?
After a hard two days of selling is the bounce off of yesterday’s lows sustainable?
In the overnight session the grains traded higher with corn up 3/4 of a penny, soybeans up 3 cents and wheat in Chicago up 3 3/4 cents. Yesterday wheat continued trading lower throughout the better part of a day but bounced off support and closed 6 1/2 cents off its intraday lows. Both $4.84...[Read More]
Fundamentally, Where Does Wheat Stand?
Tune in for an extensive break down of wheat fundamentals and where corn and soybeans might be headed.
Can wheat find some support today?
The wheat market continued lower this morning with continued pressure from the rising dollar.
In the overnight session corn is trading down 1 3/4 cents, soybeans are up 3 cents and wheat is down 8 cents going into this morning’s pause. The U.S. dollar is higher again this morning by .35 percent on continued worries out of Greece and the Euro zone. Crude oil is trading down 9 cents....[Read More]
Strength in the U.S. Dollar Pushes Grain Prices Lower
Cody looks at the continuing falling of grain prices, positive export inspections, weather and planting progress.
Cody looks at the continuing falling of grain prices, positive export inspections, weather and planting progress
US dollar up sharply
The US dollar is trading sharply higher this morning putting pressure on the grain complex.
In the overnight session the grains are trading lower with corn down 2 1/4 cents, soybeans down 1 cent and wheat down 4 3/4 cents. The U.S Dollar is trading up over a percent this morning and crude oil has slipped 68 cents. Japan is seeking to buy 100,262 metric tons of food quality wheat...[Read More]
Short Covering Rally
Cody reviews the overall downward trend from the grains and looks at where they might find support.
Weekly Cash Comments
Cash Commentary for week ending May 22nd
Basis levels for corn were off 1 cent for the week adding to the previous week’s losses, while soybean basis managed a 2-cent advance thanks to a sharply lower week on the futures market.
For corn, there was modest weakness along the river markets this week with a 3-cent loss at the Gulf...[Read More]
Wheat continues short covering correction
The wheat market continues its short covering correction higher this morning after four days of pause and consolidation near the 100 day moving average.
In the overnight session the grains traded higher with wheat leading the way up 4 3/4 cents, corn traded up 1 3/4 cents and soybeans up 1/4 cent. The U.S. dollar index is trading about a 1/4 percent higher this morning and crude oil is down 58 cents.
Yesterday, Agroconsult raised its...[Read More]