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Grain News and Commentary

Thu, Jun 24th, 2021
Shootin' the Bull

Since the financial crisis of '08, the United States government, with all of its resources, cranked up the printing presses and poured trillions of dollars into the economy, pumping it full of liquidity...

Can a Farm Bill Discriminate?

A Florida-based federal judge just blocked the Biden administration's stimulus aid plan to help “socially disadvantaged farmers and ranchers,” over concerns that the plan is discriminatory against...

Wheat Futures Trading Lower

Domestic wheat futures are trading in the red through midday. CBT prices are double digits weaker, with losses of 13 3/4 to 14 1/2 cents so far. KC HRW is down 7 1/2 to 12 1/4 cents. Spring wheat futures...

ZWN21 : 651-2s (-1.51%)
ZWPAES.CM : 6.2695 (-1.75%)
KEN21 : 606-0s (-0.98%)
KEPAWS.CM : 5.7933 (-0.75%)
MWN21 : 809-2s (+0.56%)
Beans Down Double Digits

Midday soybean futures are trading 13 1/2 to 16 1/2 cents in the red. Soymeal prices are 1.4% to 1.6% in the red. BO futures are firm and mixed at midday, within 18 points of UNCH.   USDA’s weekly Export...

ZSN21 : 1371-2s (-0.99%)
ZSPAUS.CM : 13.4105 (-0.89%)
ZSQ21 : 1334-0s (-0.89%)
ZSX21 : 1291-6s (-0.65%)
ZSPX21US.CM : 12.4169 (-0.53%)
Corn Trading Mixed through Midday

Front month corn futures were working lower this morning, but a bounce for midday has the board mixed. July is still down by 9 3/4 cents, but new crop prices are now into plus territory and 25 cents off...

ZCN21 : 653-2s (-1.66%)
ZCPAUS.CM : 6.3862 (-1.37%)
ZCU21 : 549-2s (-0.32%)
ZCZ21 : 536-0s (unch)
ZCPZ21US.CM : 5.1283 (+0.10%)
Soybeans Futures Testing Major Support Levels

Price action over the next few days can provide clues to whether this market is entering a second buy phase or traders need to look for signs to sell rallies....

Nemenoff Report 06/24/2021

Financials: As of this writing (7:00am) Sept. Bonds are 4 higher overnight at 159’29 and up 1’21 for the week.10 Year Notes are up 1 overnight and 16 higher for the week at 132’07. 5 year Notes are...

Cash Grains: A Long-term View of Intrinsic Value

The commodity sector in general has long been viewed as a volatile, short-term trading arena with more similarity to a casino environment than long-term investment opportunity.  However, the development...

ZCPAUS.CM : 6.3862 (-1.37%)
ZSPAUS.CM : 13.4105 (-0.89%)
KEPAUS.CM : 5.8631 (-0.81%)
September Soybean Meal - Reached its Target. I'm Going Long

Profited from Put Options. Just Bought Call Options.

Acreage, Full Moon, Weather and Volatility. The Corn & Ethanol Report 06/24/2021

We start off the day with Durable Goods Orders MoM (May), Durable Goods Orders ex Transportation MoM (May), Export Sales, GDP Price Index QoQ Final Q1, GDP Growth Rate QoQ Final Q1, Goods Trade Balance...

Soybean Futures Down Double Digits on Midwest Rains

Soy markets are 12 to 14 cents lower ahead of the Export Sales data release. Overnight rains swept through eastern NE and are working their way south and east. Afternoon drops left the board fractionally...

ZSN21 : 1371-2s (-0.99%)
ZSPAUS.CM : 13.4105 (-0.89%)
ZSQ21 : 1334-0s (-0.89%)
ZSX21 : 1291-6s (-0.65%)
Wheat Futures Underpinned by Drought in Spring and White Wheat Country

Overnight wheat markets were steady to 10 cents lower. On Wednesday, wheat futures had posted double digit gains. Minneapolis spring wheat futures led the complex, ending with 19 1/4 to 23 3/4 cent gains....

ZWN21 : 651-2s (-1.51%)
ZWPAES.CM : 6.2695 (-1.75%)
KEN21 : 606-0s (-0.98%)
KEPAWS.CM : 5.7933 (-0.75%)
MWN21 : 809-2s (+0.56%)
Corn Is Trading 6 to 10 Cents Lower Early Thursday

Ahead of the Export Sales data, corn futures are trading 6 to 10 cents lower. On Wednesday, July corn widened the inverse as the 4 1/2 cent gain left contracts at a $1.13 premium to Sept and a $1.28 premium...

ZCN21 : 653-2s (-1.66%)
ZCPAUS.CM : 6.3862 (-1.37%)
ZCU21 : 549-2s (-0.32%)
ZCZ21 : 536-0s (unch)
ZCPZ21US.CM : 5.1283 (+0.10%)
July Soybeans - Two Target Prices This Week

1282 is required to create a bullish pitchfork.

Beans Drop into Close

At the closing bell of the midweek session, afternoon drops left the board fractionally mixed to 9 1/2 cents in the red. July contracts were the weakest, as soybeans narrow the inverse. Soymeal prices...

ZSN21 : 1371-2s (-0.99%)
ZSPAUS.CM : 13.4105 (-0.89%)
ZSQ21 : 1334-0s (-0.89%)
ZSX21 : 1291-6s (-0.65%)
ZSPX21US.CM : 12.4169 (-0.53%)
Wheat Rallies Double Digits

Wheat futures closed Wednesday with double digit gains led by HRS. Minneapolis spring wheat futures ended with 19 1/4 to 23 3/4 cent gains. SRW wheat futures closed with gains of 8 3/4 to 10 1/4 cents....

ZWN21 : 651-2s (-1.51%)
ZWPAES.CM : 6.2695 (-1.75%)
KEN21 : 606-0s (-0.98%)
KEPAWS.CM : 5.7933 (-0.75%)
MWN21 : 809-2s (+0.56%)
Corn Prices End Mostly Weaker

July corn widened the inverse some more on Wednesday, with the 4 1/2 cent gain contracts are now a $1.13 premium to Sept and a $1.28 premium to Dec. New crop corn closed 1 3/4 to 3 1/4 lower as rain accumulation...

ZCN21 : 653-2s (-1.66%)
ZCPAUS.CM : 6.3862 (-1.37%)
ZCU21 : 549-2s (-0.32%)
ZCZ21 : 536-0s (unch)
ZCPZ21US.CM : 5.1283 (+0.10%)
Spring Wheat Leads

Minneapolis Settles Over 8.00

Livestock Report

Hogs crash and cattle markets lower

Shootin' the Bull

More confusion than clarity from today's trade.

Chart of the Day

Steel Partners Hlds (SPLP)

The Barchart Chart of the Day  belongs to an underfollowed industrial conglomerate Steel Partners (NASDAQ: SLP ).   I sorted Barchart's All Time High list first by the highest Weighted Alpha, then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 3/9 the...
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