After a sharp advance was experienced on Wednesday morning, when Putin said he was not happy with the safe grain corridor, today grain prices retreated, as the White House states the grain corridor will stay open. We discussed the fallacy in the White House's thinking and how in the end, November may see the grain […]
Grain futures traded sharply higher in the early morning hours as Putin said he's unhappy with the Safe Grain Corridor. This bolted wheat $0.60 at one time before getting price gains cut in half, while soybeans and corn transverse from sharply higher to back lower during the trade session.
Soybeans stumbled hard today while the corn market was able to put a double-digit gain in on the session. Argentina offers some advantages for farmers to move beans they have been holding tight onto.
In today's Heartland Market Talk, we reviewed the conditions that triggered a strong rally in soybeans, wheat, and corn today along with the other host of commodities that are finally recovering on the week.
With over 10% of China in hard lockdown as of overnight and the US dollar bolting to 20-year highs, the grain trade is incomplete collapse, with soybeans back under $14.00 and corn tumbling as much as $0.30 from Monday's post-Pro Farmer tour high.
In today's Heartland Market Talk, we discuss how corn and soybeans are still lower since Monday's highs, while the wheat market is back testing the best levels of the summer recovery.
Grain futures are in quick retreat after Monday's sharp rally, with wheat and corn giving back half the gains from Monday. Soybeans are lower again for the second day in a row but found buying interest on exports to alleviate some of their second-day losses.
In today's Heartland Market Talk, we discussed why corn and wheat went sharply higher while the soybean market went just as much in the opposite direction.
In today's Heartland Market Talk, we discussed the Pro Farmer crop tour results coming out after the close, along with what the Federal Reserve said at their Jackson Hole summit today.
Today's heartland market talk discussed what carried grain prices into a high this morning and then sharply reversing lower during the day. We highlight several essential points about grain pricing this week after a $0.50 gain in corn and a one-dollar lift in soybeans.
