Export sales provide little support to the markets
Export sales were on the lower end of expectations this morning with corn missing expectations by a couple hundred thousand metric tons.
In the overnight session the grains traded mixed with corn and soybeans up 2 ¼ each and wheat trading 1 ¼ cent higher going into the morning pause in trade. Today is the last day to get out of any March grain contracts with first notice day Friday the 27th.
Yesterday at 11 AM CST trucker...[Read More]
Ethanol Production out this Morning
Ethanol production seemed to be following the normal trend while maintaining a 5% advantage over last year's production. Resolutions look to be near for the South American truckers on strike.
Soybeans slip in overnight after yesterday’s gains
Soybeans slipped a few pennies in the overnight session after yesterday’s rally. The Brazil trucker strike continues.
The grains are moving lower this morning with corn down a penny, soybeans down 4 cents and wheat in Chicago down 3 ½ cents. Yesterday’s rally in Soybeans sparked some farmer selling after prices rose sharply to an intraday high of $10.29. Keep a close watch on corn today as it trades next to...[Read More]
Strong Day for Soybeans
Soybeans were on the rise following strikes in Brazil. Cody and Kevin break down news from Europe that seemed to put selling pressure on wheat later in the day.
Soybeans Up on Uncertainty of Brazil Logistics
Soybeans are trading higher this morning as truckers block roadways in Brazil protesting higher fuel taxes.
This morning the grains are trading higher with corn up 1 ½ cents, soybeans up 9 cents and wheat up 1 cent. Soybeans are trading higher on concerns about supply disruptions out of Brazil due to the truckers who are protesting higher fuel prices by blocking main roads across Brazil. Traders...[Read More]
GrainTV February 23, 2015
March Grain’s First Notice on Friday
First notice day for March contracts is Friday the 27th. Traders not looking to take delivery on grain should exit positions or roll to the May contract.
The grains are trading mixed this morning with corn down ¾ of a penny, soybeans up 4 ¼ cents and wheat down 1 ½ a cent. This Friday the 27th is the First Notice day for March corn, soybeans, wheat, KC wheat and MN wheat. Hedgers that are not looking to take delivery should exit their March...[Read More]
Selling Pressure on Grains
Kevin reviews the weekly and cumulative export sales as well as basis changes this week.
Weekly Cash Comments
Weekly Market Wrap Up for week ending February 20
Grain futures posted positive gains this week with beans up 23 and corn up 6, but in the cash market overall trends in the basis were mostly flat. Corn managed a 1-cent improvement on the week, while soybeans were unchanged on average across the country.
Grains saw some trend reversal in the overnight
The USDA Ag Outlook Forum provided a boost for soybean prices on Thursday.
Grains saw some trend reversal overnight with corn and beans giving up some of their gains from the previous session while wheat recovered from its losses on Thursday. Corn was down 1 cent a bushel, soybeans off 2 cents a bushel and wheat was up 2 cents.
The USDA Ag Outlook Forum...[Read More]