We recap the week, discussing the movements that have occurred in the magnitude they have going in the next week.
We recap the week, discussing the movements that have occurred in the magnitude they have going in the next week.
Not very often do you see limit down grain and limit up on others. We will discuss this.
Is more to it than just weather today, and we explain why grain prices had seen soybeans drop $0.40 from their Monday night high.
The grain trade fully lower today, as the waterline slowly moves East from Nebraska into some of the drier areas.
Today's grain trade has further weather concerns pushing corn higher, but reversals occurred as the market became overbought. We will continue to have poor exports in the future, which is similar to what has been going on over the past two months. Corn is $4.60 out of Brazil, and the US will be selling much.
Wheat and soybeans are not holding any gains on the session, while corn pushes double digits higher.
In today's market talk, we discussed how the USDA came up with increasing yields around the world and put a surprising world carryout number much higher than that even the highest gas had planned for.
Grain prices broke hard last night on improving the euro weather model for rain next week, while the GFS this morning started reducing rains for next week, and so up we go.
An extremely chaotic day today while the wheat market continues to crumble despite crop concerns and Australia and Russia, while rains put pressure on new crop corn and soybeans. Old crop soybeans had a different outlook for the day, which included strength.
Yes, there was a dam in Ukraine that gave way, but that didn't destroy any production of wheat in Ukraine. It's the threat of possible nuclear reactor issues which could threaten the crop, but we debunked that along with discussing the crop ratings and whether.