More Precipitation Expected Mid-Week
More precipitation is expected across much of the grain belt this week with
Grains gave back most of Friday’s gains in the overnight session. Currently corn is down 6, soybeans off 8 and Chicago wheat is down 7 cents. Technical support on December corn sits at 3.46 ¾ while looking at the soybean daily chart, support would not be expected until 10.02.
Russian what prices have rose for the last two weeks following record exports during the month of august. Strong domestic demand and a weakening Russian Rouble have also contributed to prices strengthening. This will be a supportive story moving forward if Russian domestic prices can find a bottom. The U.S. market has been pressured throughout harvest by the price and demand for Black Sea wheat.
By mid-week, some heavy precipitation of about 1-2 inches should develop primarily over Iowa, Southern Minnesota and Wisconsin. Other Midwest states like Michigan, Indiana, Illinois and Missouri should also receive some rain although to a lesser degree expecting between .25-1 inches of rain. The risk of frost damage is still very low this week although the best chance for a frost will be Saturday morning.
Informa Economics released its latest expectations of the USDA crop report forecast last Friday. Their corn expectations are for a yield of 170.3 bushels per acre which compares to their August estimate of 168. Informa’s soybean yield estimate was for 46.1 bushels per acre compared to 44.5 bushels per acre estimated in August.
Grains Bounce Back
Today we discuss the rebound in grain prices and what next week might bring. Interesting moves in the cash market were observed as harvest begins in the south. Tune in for the full report!
Grains See Follow Through Selling
Cody and Logan discuss what was driving the markets lower for the second day in a row and give some longer term price levels that will be important to watch moving forward.
Markets Break Through Support
Tune in to Logan and Cody as they highlight the crop progress report and break down why the market traded lower in today's session.
Crop Conditions Improve
Tune in to hear Cody and Logan discuss what is pressuring wheat prices lately and how the latest crop production report will impact the market.
Soybean Basis Jumps Again
Grain TV talks about the latest weather forecast and discussed how the cash market has changed over the last seven days
Soybean Sales Still Ahead of Forecasts
Cody discusses what drove wheat higher today and what this morning's export sales mean to the August WASDE forecasts.
Tune into Cody's breakdown of today's trade session as he covers the ethanol numbers as well as export sales expectations for tomorrow's report.
Soybeans Down Again
Cody discusses why soybeans fell again as well as the falling of international tender.
Markets Push Sharply Higher
Tune in to see Cody and Logan discuss the rally in corn, soybeans and wheat today. Cody and Logan discuss the soybean meal situation, talk about the next resistance levels for corn/soybeans and discuss export sales expectations for tomorrows report.[Read More]
Soybean Meal Continues Higher in the Overnight
In the overnight session the grain inched higher with corn up 2 ¾ cents, soybeans up 5 ½ cents and wheat up 4 ¼ cents going into the pause in trade this morning.[Read More]
Surging Soymeal Boosts Soybean Futures
Soybean Surge Continues
Corn, soybeans and wheat have continued to move higher following yesterday’s technical breakout for soybeans. Coming into the morning trade break soybeans is up 15 cents, wheat is up 7 cents, and corn is up. A surging spot soymeal market as contributed to strength out of soybeans. Just in...[Read More]