Weak Trade for Soybeans and Corn
Kevin discusses the effect of potentially lower ethanol prices. Cody examines the "head and shoulders" pattern soybeans have shown over the past few weeks.
Wheat Prices Cool in the Overnight
In the overnight session the dollar rallied back toward the top of the trading range helping the grains shed a few pennies going into the pause in trade.
In the overnight session corn fell 1 ¾ cents, soybeans fell 1 cent and wheat backed off from yesterday’s gains by 4 ¾ cents. The dollar index, which fell yesterday, is now back trading near the highs on the daily chart, up over ½ a percent this morning.
Wheat Rises Higher
Cody and Kevin discuss new Russian policies that could affecting wheat prices. Kevin examines the mixed export inspection numbers.
Russian Regulations May Slow Exports
Russian regulations may slow the pace of exports and increase the cost of exporting grain.
In the overnight session corn continued trading lower finishing down 3 cents going into the morning pause. Soybeans which traded a 13 ¼ cent range last night, added 1 ¼ cents to the closing price on Friday, and wheat improved 1 ¼ cents as well. Soybeans had a particularly negative session on...[Read More]
Weekly Comments - November 28
Cash Grain Comments
Cash grain markets continued to post gains this week with corn basis advancing 4 cents on the week while soybeans added 3 cents on average to US basis levels.
Market set to open lower on Friday
The decline in crude oil has many traders concerned the selling pressure may spill into the grain complex this Friday.
Attention: Following the Thanksgiving holiday the markets will open at 8:30 CST but close early at 12 CST.
Export sales for wheat were reported within analyst expectations booking 431,500 metric tons which was up 19% week over week. Corn sales beat analyst expectations recording 944,900...[Read More]