Grains were firmer to start the week led by soybeans. Crude oil also advanced to fresh highs.
The cash markets were up this week, posting modest gains. On average, corn gained 2 3/4 cents per bushel, securing the fourth week of gains.
Grains were higher in overnight trade trying to recover from two days of steep losses. In outside markets, crude oil reversed direction drifting back to the $50 mark and the US dollar dipped lower as well.
Soybeans gained ground overnight, but turned sharply down on export sales news this morning. Wheat and corn continue to grind lower.
Grains swung back into positive territory overnight following Tuesday’s sharp selloff. Crude oil catapulted higher overnight gaining $3 a barrel on news OPEC would cut production.
Grains were lower overnight led by soybeans which gave up most of Monday’s strong gains. In outside markets, crude oil fell sharply while equities and the US dollar sat in positive territory to start the trade day.
Soybeans started strong on the week holding on to double-digit gains overnight, but corn and wheat continued to sag.
The cash markets saw relatively small gains this week with basis along the river beginning to taper off.
Grains were closed overnight but will reopen for trade at 8:30 am CDT. In outside markets, the USD drifted lower while crude oil was off in early trade and equities were higher.
Grains were mildly lower overnight although prices in China continued to surge. The two-day gain for Chinese soy prices is +38 cents and soymeal up $14.
Grains were in positive territory overnight as they continue to seesaw back and forth around long-term prices of the past 3 months.
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Grains posted modest gains overnight while crude oil was sharply higher. The US Dollar was in positive territory holding on to 13-month highs.
Grains were down in the overnight session while the US Dollar shot sharply higher. Crude oil was also off in the night trade.
National corn and soybean basis moved higher across the board this week. This is the first time we have seen unanimous movement higher since the end of August.
Chicago soybean futures were higher on Friday, boosted by concerns about planting delays in Argentina and a rise in palm oil prices to the highest level in more than four years.
Rain is delaying the wheat harvest in parts of Australia, threatening to disrupt deliveries from the world's #4 exporter of the grain to key markets.
Markets roiled overnight in reaction to Trump’s election but by early morning some of the market capitulation had waned.
Election Tuesday saw beans continue to the upside while corn and wheat had marginal gains. In outside markets, equity futures were slightly lower following yesterday’s sharp advances while crude and the USD had a slight dip in early trade.
Grains were mixed overnight as soybeans posted solid gains to start the week while corn and soybeans drifted lower. Outside markets reacted sharply to the weekend announcement that the FBI would not change its view on Clinton’s emails. This sent equity markets sharply higher and gave the US Dollar and crude oil a big bounce.
US Corn Price Idx:ZCPAUS.CM
open: 7.1814
high: 7.222
low: 7.1564
close: 7.222
US Soybean Price Idx:ZSPAUS.CM
open: 16.3294
high: 16.3776
low: 16.1085
close: 16.1433
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 9.7637
high: 9.8972
low: 9.7282
close: 9.8462
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 9.8308
high: 9.9381
low: 9.783
close: 9.9123
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