PM Post - Expirations and Rolls
THE OPEN Jan beans: 1/4 lower Jan meal: .40 lower Jan soyoil: 25 higher March corn: 1 lower March wheat: 2 higher The markets opened as called with grains firmer against beans and meal. Wheat prices are firmer as they were well bid before the open and are con...
Technical Views - Lows Begetting New Lows
SPREADS Crush margins continue to firm with March trading to 1.02c/bu. Oilshare trades back up to 34.0%. Jan/March beans trade to ctr lows at 14 1/4c. Dec/March corn trades from 10 1/4c to 10 1/2c, while Dec 19/Dec 20 trades from 25 1/2c to 26c. Dec wheat/corn trad...
AM Outlook - Caution About Oilshare
GOOD MORNING, Funds continue to make adjustments into the end of the month and into the Thanksgiving holiday. Volumes are going to probably dwindle from here. Jan beans break $9.00, ignoring more of the bullish fundamentals such as a good round of export sales and crush demand. ...
PM Post - Position-evening for Profit
THE OPEN Jan beans: up 3 3/4 Dec meal: up 1.50 Dec soyoil: down 18 Dec corn: up 1 1/4 Dec wheat; up 3 1/2 Prices opened as called with many traders unwinding previous spread trade. More position - evening was noted after the bell, as traders unwound previous buy be...
Technical Views - Its about Spreads
SPREADS Major trends include higher oilshare and crush, and heavy volumes in Dec spreads. Yesterday, the Dec/March corn spread accounted for about 70% of the total volume and trades into 10c after trading out to 11 1/2c yesterday. First notice day for Dec contracts is one week from...
AM Outlook - Technical Defense
GOOD MORNING, Price action remains extremely technical and on the defensive over disappointing ideas that the trade war may extend into 2020. The US Senate this week passed a bill supporting the Hong Kong protesters that infuriated China. According to a report from unnamed trade sou...
PM Post - Technical Day Turns Negative
THE OPEN Jan beans: 2 higher Dec meal: .10 higher Dec soyoil: 28 higher Dec corn: 2 1/2 lower Dec wheat: 1 1/4 lower The market opened as expected but funds turned sellers as trade talks turned more pessimistic. Corn once again became the sell leg of spreads...
Technical Views - Good Market Direction Day
SPREADS Jan crush trades up to 1.01c/bu while oilshare firms to 34% on soyoil strength. Dec/March corn trades out to 11c from 10 1/2c, and from values that had traded into 7 3/4c. Dec/wheat corn trades up to 1.43 1/4c from 1.40c. Jan/March beans trades back out to 13c fr...
AM Outlook - Oversold
GOOD MORNING, Prices rallied yesterday on oversold technicals, and a bit of a shift in the fundamental outlook as US corn is finally becoming more competitive, as evidenced by sales announcements this week. Basis levels remain firm, with the corn harvest pace the second slowest in a quart...
PM Post: Weather, Currencies, Politics
THE OPEN Jan beans: 3 1/2 higher Dec meal: .70 higher Dec soyoil: 33 higher Dec corn: 1 1/4 higher Dec wheat: steady Prices traded higher on the day extending gains after the open. The feature of the day turned out to be more short-covering in corn after some...
Technical Views - Challenging the Edges
SPREADS Jan crush trades to 98c/bu while oilshare firms again to 33.79%. Dec/March volumes increase as we approach first notice day at the end of the month for Dec futures. Dec/March corn trades back out to 9 3/4c, while Dec 19/Dec 20 trades out to 25 3/4c from 24 1/2c. ...
AM Outlook - Need to Cover for Any Trade Developments
GOOD MORNING, Prices begin on a firmer note this morning but not very far away from yesterday's lows. The trend continues to be lower for grains, resulting in the soy complex being pressured to the lowest end of its trading range for beans and meal. Soyoil continues to hold it...
PM Post - Expirations and Rolls
THE OPEN Jan beans: 1/4 lower Jan meal: .40 lower Jan soyoil: 25 higher March corn: 1 lower March wheat: 2 higher The markets opened as called with grains firmer against beans and meal. Wheat prices are firmer as they were well bid before the open and are con...
Technical Views - Lows Begetting New Lows
SPREADS Crush margins continue to firm with March trading to 1.02c/bu. Oilshare trades back up to 34.0%. Jan/March beans trade to ctr lows at 14 1/4c. Dec/March corn trades from 10 1/4c to 10 1/2c, while Dec 19/Dec 20 trades from 25 1/2c to 26c. Dec wheat/corn trad...
AM Outlook - Caution About Oilshare
GOOD MORNING, Funds continue to make adjustments into the end of the month and into the Thanksgiving holiday. Volumes are going to probably dwindle from here. Jan beans break $9.00, ignoring more of the bullish fundamentals such as a good round of export sales and crush demand. ...
PM Post - Position-evening for Profit
THE OPEN Jan beans: up 3 3/4 Dec meal: up 1.50 Dec soyoil: down 18 Dec corn: up 1 1/4 Dec wheat; up 3 1/2 Prices opened as called with many traders unwinding previous spread trade. More position - evening was noted after the bell, as traders unwound previous buy be...
Technical Views - Its about Spreads
SPREADS Major trends include higher oilshare and crush, and heavy volumes in Dec spreads. Yesterday, the Dec/March corn spread accounted for about 70% of the total volume and trades into 10c after trading out to 11 1/2c yesterday. First notice day for Dec contracts is one week from...
AM Outlook - Technical Defense
GOOD MORNING, Price action remains extremely technical and on the defensive over disappointing ideas that the trade war may extend into 2020. The US Senate this week passed a bill supporting the Hong Kong protesters that infuriated China. According to a report from unnamed trade sou...
PM Post - Technical Day Turns Negative
THE OPEN Jan beans: 2 higher Dec meal: .10 higher Dec soyoil: 28 higher Dec corn: 2 1/2 lower Dec wheat: 1 1/4 lower The market opened as expected but funds turned sellers as trade talks turned more pessimistic. Corn once again became the sell leg of spreads...
Technical Views - Good Market Direction Day
SPREADS Jan crush trades up to 1.01c/bu while oilshare firms to 34% on soyoil strength. Dec/March corn trades out to 11c from 10 1/2c, and from values that had traded into 7 3/4c. Dec/wheat corn trades up to 1.43 1/4c from 1.40c. Jan/March beans trades back out to 13c fr...
AM Outlook - Oversold
GOOD MORNING, Prices rallied yesterday on oversold technicals, and a bit of a shift in the fundamental outlook as US corn is finally becoming more competitive, as evidenced by sales announcements this week. Basis levels remain firm, with the corn harvest pace the second slowest in a quart...
PM Post: Weather, Currencies, Politics
THE OPEN Jan beans: 3 1/2 higher Dec meal: .70 higher Dec soyoil: 33 higher Dec corn: 1 1/4 higher Dec wheat: steady Prices traded higher on the day extending gains after the open. The feature of the day turned out to be more short-covering in corn after some...
Technical Views - Challenging the Edges
SPREADS Jan crush trades to 98c/bu while oilshare firms again to 33.79%. Dec/March volumes increase as we approach first notice day at the end of the month for Dec futures. Dec/March corn trades back out to 9 3/4c, while Dec 19/Dec 20 trades out to 25 3/4c from 24 1/2c. ...
AM Outlook - Need to Cover for Any Trade Developments
GOOD MORNING, Prices begin on a firmer note this morning but not very far away from yesterday's lows. The trend continues to be lower for grains, resulting in the soy complex being pressured to the lowest end of its trading range for beans and meal. Soyoil continues to hold it...