- Is it Time to Buy Corn And Soybeans?
Globally, coarse grains are expected to have lower production and lower stocks compared to the previous months estimate.
- Stabilizing for a Few Days?
Weather and Government Reports!
- Was that the bottom for grains?
Peak panic in grains opens the door for some great opportunities
- Calm Before The Storm
Timely article that says clearly....
- Feeder Cattle August 2018
Market Research of Consistent Accuracy
- Have We Seen The Lows For Corn And Soybeans In 2018?
Have We Seen The Lows For Corn And Soybeans In 2018?
Agricharts Market Commentary
Wheat futures are currently 7 to 8 cents higher, since ending the Tuesday session with 12 to 16 1/2 cent losses in most contracts. Pressure came from higher spring wheat conditions on Monday’s report and a somewhat fast paced winter wheat harvest so far. The winter wheat crop is 65% harvested in TX, with OK at 73% and KS 23% complete as of Sunday, all well ahead of normal. NASS tallied condition ratings up 4 in KS, with TX 20 points higher and OK down 1. Spring Wheat ratings were higher in every state, with ND up 17 points. Taiwan is looking for 95,350 MT of US wheat, with the tender to close next Tuesday. Japan is seeking 91,188 MT of Wheat from Australia and the US, with the tender to close on Thursday and 65,943 sought from the US. Egypt’s GASC purchased 240,000 MT of Romanian wheat in their tender on Tuesday.
Soybean futures are fractionally higher so far this morning. They saw most contracts settle a sharp 19 to 20 1/2 cents lower on Tuesday, rebounding to close 45+ cents off the lows in the front months. The low for nearby July hit $8.41 1/2, the lowest price for continuous front month futures since December 2008. Front Month soy meal was down just $1/ton, with soy oil 72 points lower. The selling pressure was mainly from President Trump threatening to add an additional 10% tariff on $200 billion of Chinese goods in response to China's retaliatory tariffs on Friday. Expected rains this week and already above average condition added some fuel to the fire. Soybean progress is well above normal for this time of year, with MI the only state to lag their average for emergence. Condition ratings in IL, MO, and NE ratings were down 7 points, with MN 2 points lower. Ratings in IA were up 4, with IN 3 points higher.
Corn futures are trading 1 to 2 cents higher at the moment. They closed Tuesday with nearby contracts 1 to 2 1/4 cent in the red, coming back from sharp early morning losses. December posted a new life of contract low at $3.60 on Tuesday, while closing 15 1/2 cents off that low. US weather and trade uncertainty pressured the market lower. More rains fell throughout the Corn Belt overnight, and are expected today. Monday's crop progress report showed conditions in IA up 4 to 404, with IN up 3 and IL steady. NE was down 1, with MO 11 points lower. The weekly EIA report will be released on this morning.