Big Exports Do Little To Rally Prices
This morning's large export sales did little to rally futures prices in Chicago. Today we discuss the sell off, and why these sales did little to bring in buying interest.
Corn/Wheat Find Buyers.. Finally Finding a Bottom?
Corn and wheat futures both traded higher in Chicago today, something we have not seen in quite some time. Today we discuss ethanol production, export sales projections, and tenders in the wheat market.
Grains Take a Breather… Bottom Near?
Today we discuss a very quiet trade day in Chicago and where the bottom could be for corn and soybeans. Weather next week could provide some slow down to corn and soybean harvest as wide spread precipitation is expected.
Soybean Basis Collapse
Soybean basis levels collapsed this week for spot delivery as harvest draws near. Tune in for the full breakdown of cash market movers!
Grains March Lower
Grains continued to slide lower as strong corn and soybeans sales were unable to support prices. Today we discuss winter wheat sowing and the dollar index on GrainTV.
Strong Corn and Soybeans Sales
Corn and soybeans showed stronger export sales than expected, while wheat missed expectations
U.S. grain futures slipped lower over night with corn trading down 2 cents, soybeans off 2 cents, and Chicago wheat down 5 cents.
This morning’s export sales report showed strong sales for U.S. corn and soybeans while wheat missed expectations. Soybean sales were reported at 1.466 mill tonnes, just above the high end of expectations. China was the largest buying accounting for a third of reported sales while 1/3 went to “unknown destinations”. Corn sales were reported at 659,000 tonnes which was in-line with strong expectations for the week. Wheat sales came in below expectations at just 314,000 tonnes for the week. This was down 15% from the previous four week average.
Outside markets and currencies will be watching the Scottish independence vote today. Scotts will vote whether to separate from the United Kingdom and establish a sovereign state. Results will be tallied late this evening so any volatility will most likely be seen during Friday’s trade session. Most analysts agree that a strong knee-jerk reaction from equities and currencies is likely but the long term impacts should be minimum – regardless of the votes outcome.
Our weather models continue to show temperatures above normal through the end of September. Frost/freeze threat remains very low and will not be a supportive story in the grains for a couple more weeks.
Fed Meeting Pushes Dollar Higher
Today's Federal Reserve meeting pushed the dollar another leg higher as the fed announced plans to raise interest rates more aggressively in 2015 and 2016 than projected in June. We discuss currencies, ethanol production, and export sales on today's show.
Soybeans Drift Lower in Quiet Trade
Soybeans drifted lower in a very quiet trade session today. Today we discuss volume in the market and long term trend line support for the grain market.
Frost/Freeze Does Little to Bounce Grains
Monday was a quiet day for U.S. grain prices with corn and soybeans drifting higher and wheat continuing to grind lower. Today we discuss the weekend's frost/freeze and tomorrow's acreage report.
Wheat Up on More Announcements from Russia
Corn and soybeans are trading lower by ½ a cent and 3 cents respectively, while wheat is trading up 3 ¼ cents on more export news out of Russia. A reportable sale of 166,600 metric tons of corn was reported this morning to be delivered to unknown destinations for the 14/15 marketing year.... [Read More]
Wheat Falls After Six Days of Rising Prices
Weekly Cash Comments
Grain markets found heightened volatility this week with corn futures posting gains while soybeans traded lower. In the cash market, basis for both corn and soybeans were unchanged on average across the country this week, but that masks a fair amount of movement by end users and exporters.... [Read More]
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]