Another Volatile Day for Soybeans
Cody discusses what could be behind Mondays move lower and discusses soybean spreads. He also looks at the crop progress report and upcoming weather.
Pro Farmer Crop Tour Wrap Up
Cody discusses the end of the Pro Farmer Crop Tour as well as how the upcoming weather will impact the wheat crop. Keep watching for a brief on why soybean basis continues to rise.
Old Crop Soybean Basis Explodes
Today we discuss old crop soybean basis and day 4 of the Pro Farmer crop tour. Twitter and social media didn't show the crop quiet as good as some analysts had expected. Tune in for the full report!
Grains Slide Lower on Day 3 of #PFTour14
Today we discuss day 3 of the Pro Farmer Crop Tour and the markets reaction. Interesting news out of South America was also getting some trade chatter. Tune in for the full report!
Mixed Trade on Day 2 of Crop Tour
Grains traded mixed on day 2 of the Pro Farmer crop tour. Today we discuss early findings and what to expect on day 3 and 4 when scouts enter Iowa.
Soybean Conditions Improve
Today we discuss day 1 of the Pro Farmer crop tour and what to expect later in the week. Weather and crop conditions are also covered on today's broadcast, tune in for the full report!
Weekly Wrap Up
Logan discusses the sharp movement higher observed in the wheat market this morning and Cody talks about the NOPA numbers that were released at 11 CST today. Tune in to see the weekly cash market report.
Grains Move Higher
Cody and Logan discuss the trade action in corn and soybeans today and break down the expectations for tomorrows NOPA crush numbers.
Cody discusses the yield forecast by Planalytics who's yield forecast nearly matched the USDA's latest number 11 days ahead of the report.
If you are interested in seeing the Planalytics yield report call the office at 877-472-4607
Soybeans Push Lower in the Overnight
Soybeans broke through key support yesterday opening the door to further losses in the days to come.
Grains are unchanged in the overnight session, with corn down a quarter cent, soybeans up a penny, and wheat up half a penny.
Export sales were slightly weaker than analyst expectations for wheat this morning with only 338,700 metric tons sold compared to the 450,000 to 650,000 MT expected. Wheat sales were down 43 percent from the previous week. Corn sales were also light on the old crop with only 117,100 metric tons sold but performed well for new crop, booking 787,800 metric tons for delivery in 14/15. Soybean sales continue to be positive, with 61,400 metric tons in the old crop and 1,050,000 metric tons in the new crop. Old crop soybean sales continue to show strength, posting positive sales without cancelations. Soymeal, however, did post net reductions of 31,700 metric tons of old crop, which was a marketing year low.
November soybean futures traded lower in the overnight session before rebounding into the morning trade break.Yesterday marked an important technical move for the contract as prices closed below $10.55 for the first time. This was a price level that acted as support on both July 22nd and August 4th, and bearish signal opens the door to another move lower. Considering the 15 million bushel surprise on Tuesday, it is our opinion that undersold producers should put on some downside protection on any bounce we can find.
Looking at the weather forecast, the western Corn Belt remains the area of concern. Friday into Saturday there is a good chance to see between 0.5 and 2.0 inches of rain across South Dakota, Nebraska, and Iowa. The 6-10 day forecast projects above average precipitation for the grain belt and slightly above average temperatures for the central and eastern grain belt.
Grains fell sharply in the overnight session
Grains fell sharply in the overnight session with wheat leading the slide lower on a 19-cent decline. This follows yesterday’s 24-cent fall from its high on the March contract of 6.77. For corn, prices were off 6 cents in the night trade while beans fell 7 cents.[Read More]
Strong Export Sales Lift Grains
Markets Up Sharply in the Overnight
In the overnight session the grains are trading sharply higher with corn up 5 ¼ cents, soybeans up 7 ¼ cents and wheat up 15 ½ cents this morning. This morning we saw large single day reportable sales of 126,000 metric tons of corn to unknown destinations, 1.5 million metric tons of...[Read More]
Should Producers Price Some Wheat Now?
Wheat Moves Higher On Talk of Russia
In the overnight session corn, soybean and wheat are all trading higher. Corn improved 3 ¼ cents, soybeans is up 3 ½ cents and wheat is trading 13 ½ cents higher this morning. The wheat market is continuing focus on the developments in Russia as yesterday’s announcement that the Veterinary...[Read More]