In the overnight session corn soybeans and wheat were mostly unchanged to slightly higher. Yesterday’s export inspections were positive for corn and soybeans which both beat analyst expectations. Soybeans recorded 1.5 million metric tons inspected for export which beat the high side of analyst expectations by nearly 50,000 metric tons.
In the overnight corn is trading 2 3/4 pennies lower, soybeans is down 2 3/4 cents and wheat is up 1/2 a penny after closing last week near one month lows. This weekend the Korea Feed association purchased 110,000 metric tons of corn from optional origin.
Soybean futures continued to erode this week giving up 14 cents a bushel while corn found modest strength in a 3 cent advance. In the cash market, basis movements were fairly muted this week with US average corn basis gaining 1 cent a bushel while soybeans added 2 cents to the US average spot basis.
In the overnight, soybeans and wheat traded lower slipping 5 ¾ and 5 ¾ cents respectively, while corn stayed mostly unchanged increasing by ¼ cent. The export sales report was very supportive for corn, neutral for wheat and bearish for soybeans which missed analyst expectations by a significant margin.
In the overnight session the grains traded slightly higher with corn up 3/4 of a cent, soybeans up 3 1/4 cents and wheat up 3 ¾ cents. Soybeans are trading at $9.87 ½ just below $9.91 which is the low side of the sideways range it traded in since late October. The low side of the range which acted as support multiple times since late October will likely act as resistance since prices broke below $9.91 on January 20th.
Grains are mixed in the overnight session with corn down ¾ of a cent, soybeans up 1 ½ cents and wheat up 7 cents after a sharp selloff over the last 20 days helped U.S. wheat gain some competitiveness on the global market. Also helping wheat is the accusations out of Kiev that Ukrainian soldiers have come under attack from Russian forces in north eastern Ukraine.
Cody and Kevin discuss where wheat might be heading this week along with taking a look to ethanol numbers to see how they might effect corn.
In the overnight session the grains traded lower with soybeans leading to the downside by 8 ¼ cents by the morning pause. Corn slipped 3 ½ cents and wheat slid 1 ½ cents on Tuesday morning. Soybeans are now trading below key support at $9.91 as higher than expected ending stocks coupled with lower than expected December soybean crush weigh on prices.
Grain futures fell sharply this week following the release of USDA’s revised supply and demand data. As a result, corn futures were off 14 cents, while front-month Mar soybean futures plummeted 57 cents. In the cash market, basis improved on average by 2 cents for soybeans and 3 cents for corn.
The grains were mixed in the overnight with corn up 1 ¾ cents, soybeans down 2 cents and wheat up 3 ¼ cents going into the morning pause in trade. In a report from FAS this morning, China canceled 285,000 metric tons of Soybeans which will likely pressure the market lower this morning. FAS also reported a 101,600 metric ton old crop sale of corn to unknown destinations.
在一夜之间，我们已经看到一些买家回到市场上，玉米上升了4½美分，大豆上涨6½美分，芝加哥的小麦上涨了4¼美分。昨天，玉米和大豆都在白天下跌低于10美元的大豆，但以10.10¾的成绩下跌。今天上午，据报道，有127,000公吨的旧农作物销售销售给日本。
The grains continued their selling in the overnight after a sharp day lower caused by significant fund liquidation. Going into the morning pause in trading corn is down 6 cents, soybeans is trading down 6 cents and wheat is 5 ¾ cents lower. March soybeans has broken through $10 and currently trades at $9.98 which is the low side of the range it has been trading in since late October.
在一夜之间，谷物以3¼美分的玉米弹跳，大豆上涨了7¼美分，小麦交易价格高出10½美分，高于早晨停顿。今天早上的贸易会议应通过出口105,000吨的旧农作物玉米出售给未知目的地的出口。
In the overnight session corn is trading down 3 ¾ cents, soybeans is down 4 ¾ cents and wheat is down 2 cents. This morning all eyes will be focused on the four major USDA reports scheduled for release at 11 AM CST.
Ethanol production fell for the 2nd straight week as a normal seasonal decline starts to take hold. Although ethanol fuel prices have come down sharply in response to lower gasoline prices, DDG prices have moved higher helping to keep ethanol margins propped up.
In the overnight session the grains are mostly mixed with corn up 2 ¾ cents, soybeans trading 1 ¾ cents lower and wheat down by ½ a penny. Trade will be heavily focused on the reports scheduled for release at 11 AM CST on Monday. Below are expectations for Mondays report.
分析师平均作物生产报告expectation is for corn output to be lowered by 58 million bushels. The average analyst guesses yield will be revised .1 bushel per acre lower and a 332,000 acre decrease in planted acres. The large gap between FSA and NASS acreage numbers is expected to narrow in this report.
In the overnight session corn slid ¼ cent, soybeans increased 4 ¼ cents and wheat fell 3 ¼ cents. This morning another reportable sale including 118,000 metric tons of soybeans was announced for delivery to China in 14/15 marketing year.
In the overnight session corn fell 1 ¼ cents, soybeans climbed 2 cents and wheat fell ½ a penny. Wheat seemed to be unaffected in the overnight by the frigid temperatures that are currently moving through the grain belt. Illinois, Southern Michigan and Indiana will be the most vulnerable to winterkill with lows expected to fall to between-5 and -15 degrees this evening.
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
Copyright © 2022 WATT Global Media. Allmarket datais provided by Barchart Solutions. Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please seedisclaimer.
