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.
Frost/Freeze Threat Looms Ahead
Cody and Logan discuss the impact of the frost/freeze threat as well as what will happen in the last few days on the September contract.
If you haven't taken a look at our mobile trading app yet, visit us over at Grain Hedge to get live streaming quotes on your mobile phone or tablet for report day! As always, call the office questions or for assistance. Our number is 877-472-4607 and we would be happy to talk
USDA Report Pushes Grains Lower
Today's USDA report pushed new crop prices lower for corn and soybeans. We discuss the numbers and where this market could be heading as we enter harvest. Tune in for the full report!
Mixed Trade Coming Into USDA Report
Grains traded mixed one day before the September supply and demand report. Today we discuss ethanol production and trade expectations for the USDA report.
If you haven't taken a look at our mobile trading app yet, visit us over at Grain Hedge to get live streaming quotes on your mobile phone or tablet for report day! As always, call the office questions or for assistance. Our number is 877-472-4607 and we would be happy to talk.
Grains Break Support Into USDA Report
Soybeans broke technical support of $10.00 in today's trade action. We discuss the technical environment and expectations for Thursday's USDA report.
Markets Resume Trend Lower
The markets resumed the trend of selling on Monday as traders eye the Thursday WASDE report. Watch Cody and Logan breakdown weather, crop conditions and export inspections in today's show.
Weekly Cash Comments
The futures market slide 12 ¼ cents for soybeans and 8 ½ cents for corn but despite the sharp slide in prices, basis remained for the most part steady increasing only a penny for soybeans and 1 ½ cents for corn.
Can wheat extend bounce off $5.00?
In the overnight session corn is trading ¾ of a penny lower with soybeans unchanged and a 2 cent increase in wheat. Wheat prices found support yesterday after touching $5.00 ¾ briefly during the session. Wheat seems oversold at these levels after falling sharply from the $6.77 high on...[Read More]
Export Sales Review
Soybean Sales Bounce Back
In the overnight session corn is trading down 2 ¼ cents, soybeans are trading 3 ¾ cents higher and wheat is down 2 ¼ cents. This morning a reportable sale of 116,000 metric tons of sorghum was announced to unknown destinations with 58,000 metric tons for delivery in 14/15 marketing year and...[Read More]
Strong Ethanol Stocks
Will Brazil transportation logistics lift U.S. soybean exports
The grains are all trading lower this morning with corn down 2, soybeans down 4 cents and wheat down 4 cents. Yesterday, mixed export news hit the market early with a 120,000 metric ton cancellation of soybeans to China followed by an announcement of a new sale that included 111,000 metric...[Read More]