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We post our view about two of the five grains we actively follow
Technically Soybean Oil looks broken, but several other indicators point to higher prices over the near term.
Educational and Actionable information using Fibonacci & W.D. Gann analysis.
Jim's video pinpoints crucial crop weather situations on four continents.
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Cash markets looking better but futures don't see the light
Corn held up despite the bears putting up a fight after the overnight strength. Futures closed with contracts up ½ to 3 ¼ cents, as in delivery May was down a nickel. July futures ended the week with a 10 ¼ cent climb, as December was 9 ¼ cents higher....
Soybeans powered into the close as contracts were within a few cents of the daily high at the final bell. Futures were up anywhere from 7 to 16 cents at the close. The weekly gains totaled 37 ¾ cents for July and 26 ¼ cents for new crop November. Soymeal...
Wheat bulls were feeling better heading into the weekend, as Friday posted a round of strength. Chicago contracts were up 11 to 19 ¼ cents across the board, with May getting thin and July up just a tick on the week. Kansas City futures were 6 ½ to 14 cents...
In my opinion, further clues were presented at the end of the week via the unemployment report as to further weakening of the economy. Stagflation has settled in with the Fed's Powell stating this week a "lack of further progress". Friday's ISM report showed April having slower growth than March.
I spoke about the grain market with Michelle Rook today on AgWeb's Markets Now. We also discussed the U.S. dollar and crude oil.
Coffee tumbles alongside cocoa, while Brent crude pulls back on bearish U.S. inventories data.
The wheat complex is heading higher on Friday. Chicago contracts are the leaders, with gains of 17 to 20 cents across most contracts. Kansas City futures are up 13 to 15 cents on the day, so far. There were again zero deliveries vs. KC May futures. MPLS spring wheat futures...
Corn futures are slipping of the early session strength on Friday, with contracts down 1 ½ to 3 ½ cents in the nearbys and up 1 to 2 cents in the new crop contracts. Some precip is expected to make its way across the US over the next week, possibly...
Soybeans are trading the final session of the week, with contracts up 6 to 8 cents across most months, pulling back from early double digit gains. Soymeal is also pulling off the highs, with contracts up $2 to 5 at midday. Soy Oil is mixed, with May up 13 points...
#5 | GREETings Tuesday gave us the much-anticipated release of GREET modeling for the IRA's 40B Sustainable Aviation Fuel tax credit. Heading into Tuesday, the market was anticipating all-encompassing guidance, outlining requirements for both sections 40B and 45Z as the current 40B blender's credit is set to morph into the...
Early Friday corn prices are 4 to 5 cents higher than they went home on Thursday. Futures ended Thursday with gains of 4 ½ to 9 cents across most contracts. Weakness in the US dollar has been helpful to the bulls. Some precip is expected to make its way across...
Soybeans are trading 6 to 11 cents higher to start your Friday. They got a boost from the meal value on Thursday, with bean contracts up 14 to 34 ¼ cents across the board. Flooding in southern Brazil was also a bullish input. Soymeal paved the way for the rally,...
Overnight action in wheat has prices trading 5 to 12 cents higher this morning, with the winter wheat contracts leading the way. Wheat bulls held their ground on Thursday, with gains across all three exchanges. Kansas City futures were up 11 to 11 ½ cents across most contracts. Chicago contracts...
Educational and Actionable information using Fibonacci and W.D. Gann analysis.
Corn futures closed out the Thursday session with gains of 4 ½ to 9 cents across most contracts. Some precip is expected to make its way across the US over the next week, possibly putting a slow down to the so far (through last Sunday at least) rapid planting pace....
Soybeans got a boost from the meal value on Thursday, with contracts up 14 to 34 ¼ cents across the board. Soymeal paved the way for the rally, with $8 to $15.90/ton gains. Soy Oil closed mixed, with nearby down 2 to 5 points and deferred steady to 2 points...
Wheat bulls held their ground on Thursday, with gains across the three exchanges. Kansas City futures were up 11 to 11 ½ cents across most contracts. Chicago contracts were 3 to 5 ¼ cents higher at the close. MPLS spring wheat was 3 ¾ to 7 cents higher on the...
