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.
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.
In today's Heartland Market Talk, we discussed not only the crop tour that Pro Farmer is doing in the Western corn belt and Ohio but how the crop ratings yesterday afternoon surprised the trade and created significant gains that carried from the overnight session in the day trade.
In today's Heartland Market Talk, we discussed the wheat rally coming from extreme oversold conditions and the Ukrainian wheat flows that are taking the bloom off the wheat market. Also we discuss the expectations for the upcoming cattle on feed report.
In today's Heartland Market Talk, we discussed what caused the big spill in the wheat market over the last two sessions, sending Chicago wheat to new lows for the calendar year.
In today's Heartland Market Talk, we discussed how in the overnight trade not only did India leave its wheat crop as large as the past month but added a few hundred thousand metric tons. This is the opposite of what private analysts suggest: the crop is at least 10 MMTs lower near 95 MMTs.
