In the overnight session the grains continued higher with corn up 3 cents, soybeans up 8 1/4 cents and wheat trading 6 1/2 cents higher. The U.S. dollar is trading 1 percent lower and crude oil is up 48 cents this morning. Keep in mind that the July Supply and Demand report will be released at 11 CST today.
In a poll conducted by Reuters the average analyst guess was for old crop corn and soybean ending stocks to be lowered substantially which would reflect the lower than expected quarterly grain stocks figure released on June 30th
In the overnight session the grains traded higher with corn up 2 3/4 cents, soybeans up 14 1/4 cents and wheat up 6 1/4 cents. The U.S dollar is up a fraction of a percent and crude oil is up $1.50. Traders will be positioning themselves for the July WASDE report which will be released out on Friday, July 10th.
Informa cut its soybean production forecast by 41 million bushels to 3.77 billion bushels in its latest forecast citing lost acreage in Missouri and crop damage from the recent heavy rains.
In the overnight session the grains traded marginally lower with corn down 1 cent, wheat down 5 1/2 cents and soybeans down 1 1/4 cents. The U.S. dollar is trading down 1/3rd of a percent and crude oil has fallen 21 cents. A reportable sale of 240,000 metric tons of new crop soybeans was announced this morning.
On Wednesday, the Chinese market fell 5.9 percent causing the exchange to halt trading in 1,331 companies. Since the height of the market the Shanghai Composite Index has now fallen 32 percent.
在一夜之间会话谷物交易损失wer with corn down 6 3/4 cents, soybeans down 5 1/4 cents and wheat down 9 1/4 cents. The US dollar is trading nearly 1 percent higher and crude oil is up 8 cents.
Analysts were expecting corn good-to-excellent ratings to decline by 1 percent and for soybean ratings to decline by 2 percent early yesterday. However, the crop progress report showed that corn conditions are slightly better than expected at 69 percent good-to-excellent which was a one percent improvement from the previous week. Soybean conditions held steady at 63 percent good-to-excellent which was unchanged on the week.
Grain markets came back from the holiday weekend in a selling mood with soybeans off 20 cents, wheat off 15 cents and corn down 10 cents.
In the overnight session the grains traded lower with corn down 2 1/4 cents, soybeans down 8 3/4 cents and wheat down 9 1/2 cents this morning. Crude oil is trading up 25 cents and the U.S. dollar is down nearly a quarter of a percent.
On Wednesday, the EIA ethanol production report showed a weekly decline of 26,000 barrels per day to 968,000 barrels per day. Weekly production was 15,000 barrels per day above last year’s pace and well above the four year average of 898,000 barrels per day.
In the overnight session we have pulled back a bit with corn down 7 cents, soybeans down 5 1/2 cents and wheat down 17 cents this morning. The U.S. dollar is trading higher by a half a percent and crude oil is down 79 cents this morning.
Yesterday’s quarterly grain stocks and planted acreage reports pushed the market sharply higher within sight of some important chart resistance levels. September corn resistance is at $4.30 where the market closed back on December 29th. September wheat resistance is at $6.60 where the market closed back on December 18th and soybeans traded up to a high of $10.45 1/2 in the overnight which is an area that acted as resistance multiple times between November and January of last year.
After the sharp move higher, Cody looks at the technical and fundamental factors that will have to be present for sustained high prices
In the overnight session the grains were mixed with corn up 1 cent, soybeans down 5 3/4 cents and wheat down 1 1/4 cents. The U.S. dollar is trading 1/2 a percent higher and crude oil is trading up 24 cents. Two major USDA reports will be released at 11 AM CST including the Planted Acreage report and the Quarterly Grain Stocks report. Below are the expectations for both reports.
In a poll of analysts conducted by Reuters the average forecast for corn acreage is 89.292 million acres. This is up from the 89.199 million acres of corn forecast on March 31st. For soybeans and wheat, analysts are expecting to see a half million acre increase from the March 31st report to 85.171 million acres and 55.867 million acres respectively.
In the overnight session, the grains traded higher with corn up 5 1/2 cents, soybeans up 3 3/4 cents and wheat up 9 cents by the pause of trade this morning. The U.S. dollar is up only a fraction of a percent and crude oil is down 71 cents. All traders in long July grain contracts will need to liquidate or roll their positions by the close of trade today with Tuesday the 30th being First Notice. Tuesday the 30th also marks the release of two major USDA reports including the Planted Acreage report and the Quarterly Grain Stocks report.
In the overnight session the grains traded sharply higher with corn up 10 1/2 cents, soybeans up 19 1/2 cents and wheat up 26 3/4 cents this morning. Wheat has broken through resistance which hovered around $5.36 3/4 and is building momentum to the upside, soybeans has been above its 100 day moving average since Monday and is now trading above 10 dollars. Next resistance level for July soybeans is around $10.42 3/4 which was a previous high back on February 26th. Corn is trading around $3.86 1/2 this morning which is just above its downtrend resistance of $3.81 and the 100 day moving average of $3.79. Keep a close watch on today’s trade action as we could see prices chop around throughout the trade day.
In the overnight session the grains traded higher with corn up 2 1/2 cents, soybeans up 8 1/4 cents and wheat up 2 1/4 cents. The U.S dollar is mostly unchanged this morning and crude oil has slipped 29 cents lower.
The EIA ethanol production numbers showed that last week’s production was the largest this marketing year. Weekly production increased 14,000 barrels per day to 994,000 BPD. Ethanol stocks dropped 878,000 barrels to 19.840 million barrels helping to paint a more bullish picture. This marketing year ethanol production is up 4.7 percent compared to 2013/14.
In the overnight session the grains traded lower with corn down 3 1/4 cents, wheat down 2 3/4 cents and soybeans down 6 1/2 cents. Crude oil is trading 10 cents lower and the U.S. dollar is down a fraction of a percent. The market will be focusing on the June 30th planted acreage numbers that is expected to have the biggest impact on Soybeans.
Soybeans were only 90 percent planted as of Monday which is 5 percent behind normal pace. Rains forecast across the Midwest this week helped lift soybean prices as traders became nervous about the remaining unplanted acreage. Allendale estimates corn planted acreage at 91.742 million acres which is up from the 89.199 million acres forecast by the USDA in March.
在一夜之间会话,谷物混合with corn up 1 cent, soybeans down 1 3/4 cents and wheat up 2 1/2 cents. Crude oil has slipped 57 cents lower this morning with the U.S. dollar index up by over 1 percent. The dollar gained some strength following U.S. housing data and the euro was unable to hold onto recent gains as deal surrounding Greece’s debt remains in debate.
This morning there was some demand activity with Ethiopia buying 240,000 metric tons of wheat from optional origins.
In the overnight the grains are higher with soybeans leading the charge up 7 1/2 cents, wheat up 4 1/4 cents higher and corn down 1/2 a penny. July soybeans now trades above $9.74 which is the 100 day moving average after closing Friday below that level. Crude oil is up 22 cents this morning and the U.S. dollar is only a fraction of a percent higher. The USDA crop progress is expected out at 3 PM CST today.
Grain basis was mostly stable this week with both corn and soybeans unchanged for the week across the U.S.
Weather was the big concern this week as Tropical Storm Bill hit Texas and Oklahoma and made its way into the Ohio Valley by late in the week. Wet conditions are leading to not only planting problems, but shipping delays along the IL & MS River as swollen rivers are shutting down some stretches for barge traffic.
一夜之间,谷物被降低soybeans leading the complex to the downside with a 5-cent drop in the night session. Corn gave up 3 cents a bushel while wheat was fractionally lower.
Beans continue to find it difficult to trade for an extended time above $9.40 basis the new-crop November contract. After trading as low as $8.97 early in the week, the market bolted higher on flooding concerns and planting delays but over the past two sessions that bullish rally has grown tame.
Grains dipped lower in the night trade after taking a breather from the two-day rally that pushed soybean prices to their highest level in a month. Going into the morning break, soybeans were down 5, corn was down 1 and wheat was fractionally higher.
Wet weather continues to be a concern for the markets as soybean planting still needs to be completed in some areas where excessive moisture is present.
US Corn Price Idx:ZCPAUS.CM
open: 7.7377
high: 7.807
low: 7.677
close: 7.7526
US Soybean Price Idx:ZSPAUS.CM
open: 17.2303
high: 17.2303
low: 16.9512
close: 16.9916
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 11.0255
high: 11.2341
low: 10.9614
close: 11.1675
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 10.036
high: 10.2027
low: 9.9514
close: 10.1276
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