In today's Heartland Market Talk, we review why index funds are selling aggressively grains even though the threat of production slipping is still in front of us.
In today's Heartland Market Talk, we review why index funds are selling aggressively grains even though the threat of production slipping is still in front of us.
Corn and wheat are trying to mount a recovery from the heavy losses on Tuesday, but soybeans continued to precipitously drop as veg oil markets collapse around the world.
Grain fractures scratch that grain futures imploded today on a slight improvement of the weather forecasts this week for the Midwest.
Today grain futures have gone from a sharply higher start to sharply lower, with wheat losing some $0.40 on the day.
After several days of risk-off, liquidity selling in the grains, the US dollar is now sharply lower allowing the grain markets to get back to the business of concerning whether.
Grain futures find more liquidity selling, as the US dollar makes new highs for the year and multi-decades.
Record cash prices are being paid for soybeans in the Midwest and new record contract highs for old and new crop beans.
Wheat prices struggled today but found footing after the Russian/Turkey meeting did not find meaningful results for Ukraine to want to accept.
Today, grain futures have wheat sharply lower while corn and soybeans head sharply higher.
Sharply higher wheat prices led the recovery rally in grains today, as Russia reportedly destroyed a cargo grain export port in Ukraine over the weekend.
