October 22, 2014 | Grain Hedge Insights | Cody Bills | Views: 300

Volatile Day in Chicago

Corn and Soybeans had a volatile day in Chicago on a Wednesday. Early in the trade session strength was observed across the sector but turned south at mid session and closed near lows

Volatile Day in Chicago
October 22, 2014 | Grain Hedge Insights | Cody Bills | Views: 250

Grains Continue Higher in the Overnight

In the overnight session corn improved 2 cents, soybeans increased 12 ¼ cents and Chicago wheat increased 3 ¾ cents.



Soybeans surged another 12 cents higher in the overnight on very light news. A close above 972 ½ on the November 14 contract would be a strong technical signal that October’s price rally may have more gas in the tank. Bulls will point to strong export inspections and basis levels at the Gulf that have risen in the last 4 days for December delivered soybeans. The long term fundamentals of this market continue to point to lower prices when taking into account stocks/use for 2014/15 and the production outlook for South America. First notice day for November 14 futures is Friday, October 31st. If you need help rolling to January futures please contact our office.


This morning the Ukrainian Agricultural Ministry announced the country may export 11.76 million metric tons of wheat this marketing year compared to 9.2 exported last year. This year the countries wheat harvest increased 6.3% due to a higher number of planted acres and better yield. Currently the USDA has Ukrainian wheat exports pegged at 10 million metric tons in the October WASDE report which was unchanged from the previous report in September.


Over the last few days Chicago wheat and Kansas City wheat have been consolidating right around their 50 day moving averages which have acted as resistance. As more time passes around these levels the potency of the resistance will fade. If prices break out and move another leg higher, be cautious as we move right into the $6.20 resistance in Kansas City Wheat and the $5.42 resistance in Chicago wheat. 

October 21, 2014 | Grain Hedge Insights | Cody Bills | Views: 257
October 21, 2014 | Grain Hedge Insights | Cody Bills | Views: 110

Dryness Concerns in Brazil

There has been concerns of dryness in Mato Grasso as producers begin planting.

In the overnight session corn was unchanged, soybeans traded 5 1/4 cents higher and wheat improved 2 1/2 cents. 

Brazil’s key growing state of Mato Grasso is seeing dryer than normal planting conditions as Brazilian producers ramp up planting. Over the last thirty days the majority of Mato Grasso is 3 ½ or more inches behind normal rain fall totals. Weather models are projecting a wet week for central Brazil, with an inch of precipitation possible across the majority of key growing areas. This should work to neutralize dryness concerns in the short run for central Brazil.  


Egypt’s state grain buyer GASC is expected to announce the result of their most recent tender today. Traders indicate that French, Russian, and Romanian wheat was offered with no offers from the United States. Staying on the wheat front, Syrian officials have announced they will import up to 1 million tonnes of wheat this marketing year as the country’s civil war has cut domestic production in half. Yesterday’s export inspections report showed that 481 thousand tonnes of U.S. wheat was inspected for export last week, right in line with trade expectations.

Crop progress was released last night which showed that harvest is now complete for 31% percent of corn area which was right around analyst expectations. This years pace lags the five year average of 53% percent by this time of the year. Last week the amount of harvested acres in the U.S jumped only 7 percent. 
Soybean harvest progress also came in on pace with expectations, reporting 53% harvested compared to a five year average of 66%. Over the last week harvested acreage improved by 13 percent.  
Weather throughout the grain belt should be clear today with some slight showers coming into the picture in the western grain belt on Wednesday. Any delays due to the precipitation should be minor. Friday should usher in more precipitation before the forecast clears up over the weekend.

October 17, 2014 | Grain Hedge Insights | Cody Bills | Views: 299

Soybeans Take a Technical Break

Today we discuss the soybean technical environment and the morning's export sales report. Barge rates have backed off and we see river bids strengthen for soybeans and corn across the mid-west.

October 16, 2014 | Grain Hedge Insights | Cody Bills | Views: 343

Grains Bounce on Light News

Grains took another bounce higher today as fundamental news remains light. Today we discuss the technical outlook and ethanol production on GrainTV.

October 15, 2014 | Grain Hedge Insights | Cody Bills | Views: 476
October 14, 2014 | Grain Hedge Insights | Cody Bills | Views: 430

Grains Move Another Leg Higher

Corn and soybeans moved another leg higher today. Today we discuss the move and what prices may offer resistance to further gains. Crop progress was released after the closing bell, showing corn and soybean pace still lagging.

Grains Move Another Leg Higher
October 14, 2014 | | Views: 590

Mycotoxin Report:October 13

Mycotoxin Report:October 13


We are happy to announce the release of our new Monday Mycotoxin Report app for iPhone and Android users. If you would like to download the app and get weekly notifications of our videos, visit http://NeoMycoReports.mobapp.at

If you would like to participate in our report, please contact us at 1-800-234-5333 to learn how to get involved.

To learn more about Neogen's integrated myxotoxin monitoring program, visit http://www.neogen.com/FoodSafety/pdf/ 

October 10, 2014 | Grain Hedge Insights | Cody Bills | Views: 440

USDA Sends Corn and Soybean Futures Lower

Today we discuss the October USDA report, released this morning at 11:00 AM central time. First glance made this report look neutral to slightly bullish relative to trade expectations.

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November 21, 2014 | Grain Hedge Insights | Cody Bills

Cash grain markets found strength as futures prices were down on the week. Both spot and corn bean basis levels posted impressive gains, advancing 5 and 3 cents a bushel, respectively, on the week.

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Grains Mixed in the Overnight

November 21, 2014 | Grain Hedge Insights | Cody Bills

In the overnight session corn traded down 1 ½ cents, soybeans traded up 5 ¾ cents and wheat in Chicago traded down 2 ½ cents. Keep in mind that today is the LAST TRADE FOR DECEMBER OPTIONS.


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Export Sales Bad News for Soybeans

November 20, 2014 | Grain Hedge Insights | Cody Bills

In the overnight session corn increased 2 ¼ cents, soybeans increased 1 ¾ cents and wheat fell 3 cents as we go into the morning pause in trade. Export sales which were released at 7:30 CST caused soybeans to give back most of the gains it had achieved in an overnight bounce.


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