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The USDA revising its forecast for corn and wheat exports downward, reflecting the broader landscape of shifting prices and global competition. In a report published on Wednesday, the agency forecasts US grain and feed exports to reach $37.6 billion in fiscal year (FY) 2024, a $600 million decline from the February forecast. This downward revision is primarily attributed to lower prices for corn and wheat.
Jim's video explains why grain and natural gas prices have recently collapsed again
Educational and Actionable information using Fibonacci and W.D. Gann analysis.
The wheat market closed with mixed action on Friday. Contracts in Chicago were steady to 3 cents lower on the day, with July up 75 cents on the month. Kansas City futures were fractionally lower in the nearbys, with other contracts higher. July was up 73 ½ cents on the...
Soybeans posted 4 to 6 cent losses across most contracts on Friday, as July was up 42 cents on the month. Soymeal saw mixed action with July up $1.10/ton and August down 60 ents. Soy Oil was down 20 points across the nearbys. Export Sales data showed bean bookings at...
Corn futures closed out the Friday session with contracts 2 to 6 cents lower. July was down just ½ cent over the entire month, as December was down 2 ½ cents. USDA’s Export Sales report showed 810,148 MT of corn booked in the week ending on May 23. That was...
Soybeans are steady to 3 cents in the red following some overnight strength in the market. Soymeal is trying to see some buying to round out the week, up $1.50/ton. Soy Oil is down 9 points in the July contracts on Friday. Export Sales data showed bean bookings at 329,427...
The wheat market is back to fading off the overnight strength as we round out the month. Contracts in Chicago are steady to 2 cents lower. Kansas City futures are fractionally mixed at midday. MPLS spring wheat is down 2 to 3 cents across the front months. Export Sales data...
Corn futures are erasing the slight overnight strength, with contracts down 1 to 3 cents across the front month on Friday. USDA’s Export Sales report showed 810,148 MT of corn booked in the week ending on May 23. That was an 11.1% drop from the week prior but still well...
Grain markets have been softer for much of the week but have found their footing in the overnight and early morning trade. Will the strength hold into the weekend?
Wheat is rallying into the Friday session ahead of the weekly USDA Export Sales report. After a month of solid gains, the wheat complex posted some selling on Thursday ahead of Friday’s month end. Chicago contracts were down 10 to 12 cents in the front months. Kansas City futures are...
Corn prices are 3 to 5 cents higher than the Thursday close as we head into the weekly USDA Export Sales release. Corn futures closed the Thursday session with contracts down 6 to 8 cents in most front months, a risk off approach ahead of month end triggered selling across...
Soybeans are trading 9 to 13 cents higher early on Friday morning. Bean futures posted losses across most contracts on Thursday with futures down 4 to 7 cents at the close. Soymeal continues to weigh on the market, with losses of $5.50/ton. Soy Oil was also lower on Thursday, with...
After a month of solid gains, the wheat complex posted some selling ahead of Friday’s month end. Chicago contracts were down 10 to 12 cents in the front months. Kansas City futures are down 10 to 11 cents so far. MPLS spring wheat is 9-10 cents lower in the nearbys....
Corn futures closed the Thursday session with contracts down 6 to 8 cents in most front months, as a risk off approach triggered selling across much of the ag commodity sector. This morning's EIA report showed a 49,000 barrel per day increase to ethanol production during the week that ended...
Soybean futures posted losses across most contracts on Thursday with futures down 4 to 7 cents at the close. Soymeal continues to weigh on the market, with losses of $5.50/ton. Soy Oil was also lower on Thursday, with July down 16 points. The 7-day QPF from NOAA is calling for...
Corn futures are falling on Thursday’s midday, as a risk off approach is causing selling across much of the ag commodity sector. Contracts are down 6 to 8 cents at midday. This morning's EIA report showed a 49,000 barrel per day increase to ethanol production during the week that ended...
Soybean futures are trading with midday losses of 4 to 7 cents across the front months. Soymeal continues to weigh on the market, with losses of $4.70/ton. Soy Oil is also lower on Thursday, with July down 4 points. The 7-day QPF from NOAA is calling for rains across much...
After a month of solid gains, the wheat complex is falling lower on Thursday ahead of Friday’s month end. Chicago contracts are down 15 to 17 cents in the front months. Kansas City futures are down 12 to 13 cents so far. MPLS spring wheat is 10 cents lower in...
As underlying commodity prices surge, the Teucrium Wheat ETF has experienced a 12% increase in May. The article scrutinizes whether this rapid rise may indicate overbought conditions, offering insights into the performance of WEAT and its implications for investors navigating the wheat market.
Corn prices are showing fractionally mixed trade on your Thursday morning. Futures posted losses of 1 ½ to 7 ¼ cents out to the 24/25 MY contracts, with the rest showing fractional gains. Pressure from the dollar and losses in wheat weighed on things into the close. The Tuesday afternoon...
