Police Crack Down on Brazil Roadblocks
The police handed out fines and cleared out a number of roadblocks helping restore traffic flow to congested areas of the country.
In the overnight session the grains traded mixed with corn down 1 cent, soybeans up 2 ¼ cents and wheat up 2 cents going into the morning pause in trade. The Chicago wheat market seems to have held support off $4.96 last Thursday which was the previous low back on February 2nd.
Weekly Cash Comments
Cash Commentary for week of February 27th
Corn basis saw modest growth this week advancing 2 cents a bushel on average across the country, but bean basis was unchanged thanks to higher futures and better farmer selling.
In corn, basis levels were up largely driven by strength at ethanol plants in the Western Cornbelt. On...[Read More]
Grains Higher Going into Friday
The grains are trading higher going into the Friday session as Brazil logistics concerns continues to stir up short covering on Soybeans.
In the overnight the grains traded higher with corn up ¼ of a cent, soybeans up 3 ½ cents and wheat up 6 ¾ cents going into this morning’s pause. Wheat seems to be bouncing higher this morning after holding a major support level of $4.92 ¼ which was the low back on February 2nd. Today is...[Read More]
South American Trucker Strike Continues
Cody gives an update on the South American trucker strike and breaks down today's export sales report.
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]
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]