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.
Grain Futures Follow Through From Tuesday’s USDA Report
Today we discuss corn export sales, ethanol production, and soybean technicals on GrainTV. If you haven't taken a look at our mobile trading platform now is the time! Visit us at GrainHedge.com to take your demo and get live quotes on your mobile device.
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USDA Report Breakdown
Today we discuss the USDA Report and what this means for grain prices moving forward. Tune in for the full report!
Fed Meeting Pushes Dollar Higher
Soybeans Drift Lower in Quiet Trade
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.[Read More]