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Inflation has remained higher for longer than anyone predicted. Especially the Fed. Their once transitory inflation has spun completely out of control. Attempts to reel in consumer spending has been met head on with increased government spending.
Soybeans are showing 1 to 3 cent gains so far on Wednesday, with May up 9 ¼ cents. May soybean deliveries slowed to 263 contracts. Soymeal is trading $3.30 to $4.30 lower at midday. There were 152 delivery notices against May soybean meal overnight. Soy Oil is putting together a...
The wheat market is trading lower on Wednesday. Kansas City is leading the way with losses of 6 to 8 cents cents and in delivery May down 1 ¾. Chicago contracts are down 4 to 6 cents across the nearbys. MPLS spring wheat is steady to 2 ½ cents lower...
Corn futures are trading 1 to 2 ½ cents higher so far at midday. There were 3 delivery notices overnight against May futures. The oldest long is dated 10/27/23, when May futures were trading $5.00-5.05. They’re either “pure” hedgers with a big paper loss or they had options positions cushioning...
Following overnight losses, the wheat market is down 2 to 7 cents across most hard red contracts, as Chicago is fractionally mixed. Bulls stumbled into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21. Chicago contracts...
Overnight trade in the corn market has futures down ½ to 1 ¼ cents. Corn futures closed out the Tuesday session with most contracts fractionally to 3 ¼ cents lower and May up ¼ cent. There were 3 delivery notices overnight against May futures. The oldest long is dated 10/27/23,...
Soybeans are trading 1 to 2 ½ cents lower following the overnight trade. They posted double digit losses on Tuesday, with contracts down 15 ¼ to 19 ¾ cents across the board. Soymeal was down $1.80 to $3/ton at the close. Soy Oil was in freefall mode, down another 69...
Corn futures closed out the Tuesday session with most contracts fractionally to 3 ¼ cents lower and May up ¼ cent. On Tuesday, the Biden administration released its guidance on SAF feedstock, allowing corn based ethanol to qualify only if producers use practices such as no-till, cover cropping, and efficient...
The wheat market fell flat into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21. Chicago contracts were down 3 to 7 ¼ cents across the nearbys and up 1 ¼ to 3 ¼ cents in...
Soybeans posted double digit losses on Tuesday, with contracts down 15 ¼ to 19 ¾ cents across the board. Soymeal was down $1.80 to $3/ton at the close. Soy Oil was in freefall mode, down another 69 to 140 points and hitting new contract lows. EIA reported that just 888...
A great deal transpired today. Whether you believe the price decline an aspect of the bird flu, or like me, believe that with no margin and fewer aspects of trading higher, there is no reason to pay more for anything, prices are lower.
Corn Futures are slipping lower on Tuesday’s midday, as contracts are down 1 ¾ to 5 cents across much of the front month action. Tuesday is first notice data for May corn futures, with no deliveries issued. The CME is reducing corn’s daily price limits by a nickel on May...
Soybeans are posting double digit weakness on Tuesday, with pressure coming from the product values. Soybean futures price limits are going to trimmed by a dime to 85 cents on Wednesday, with the CME. Soymeal is fading off the early strength, with contracts now down $6.70 to $7/ton. Soy Oil...
The wheat market is facing pressure at midday. Kansas City futures are leading the way lower, with losses of 12 to 18 ¾ cents. Chicago contracts are down 4 to 10 cents at midday. MPLS spring wheat is 2 to 4 cents lower on the session so far. KC and...
Overnight trade has corn showing fractional to 2 cent losses this morning. Corn futures ended the Monday session fractionally to 1 ¼ cents lower across most contracts. Tuesday is first notice data for May corn futures, with no deliveries issued. The CME is reducing corn’s daily price limits by a...
The wheat market is showing weakness again on Tuesday after a round of overnight trade. Futures backed off in the winter wheat contracts to start off the week. Chicago contracts were down 4 ½ to 13 ¾ cents on the session. Kansas City was down 1 ¼ to 3 ¾...
Soybeans are posting 2 to 3 cent lower trade following the overnight session. They closed with contracts 1 ¼ to 4 ¾ cents higher on the Monday session despite showing double digit gains earlier in the day. Soybean futures price limits are going to trimmed by a dime to 85...
The World Bank anticipates a decline in global food prices throughout 2024 and 2025, primarily driven by lower prices for grains and oils. However, the latest report from the bank warns of potential risks, including geopolitical tensions and weather-related disruptions, that could impact this projection.
Soybeans closed with contracts 1 ¼ to 4 ¾ cents higher on the Monday session despite showing double digit gains earlier in the day. Soymeal was in rally mode, as contracts were up $6.40 to $9.60/ton. Soy Oil is crept lower, with contracts down 88 to 117 points. A Wynnewood,...
Corn futures ended the Monday session with contracts fractionally to 1 ¼ cents lower across most contracts. Tuesday is first notice data for May corn futures. Export Inspections data from FGIS showed 1.23 MMT of corn shipped in the week of April 25, a 26.21% drop from the previous week...
Wheat futures backed off in the winter wheat contracts to start off the week. Chicago contracts were down 4 ½ to 13 ¾ cents on the session. Kansas City was down 1 ¼ to 3 ¾ cents across most contracts. MPLS was holding up, with contracts 2 ¾ cents to...
Not much transpired today. Traders just don't seem to be willing to produce premium on futures contract for the industry to dump cattle on them. With beef production down 2.6% year over year, there isn't much reason to.
