PM Post - Weaker Trading Ranges
THE OPEN Jan beans: 2 lower Jan meal: .80 lower Jan soyoil: 5 higher March corn: 1/4 lower March wheat: 3/4 lower The markets opened tentatively for the soy complex and lower for wheat. Major reversal signals created weaker trade today, as the seasonal rally...
AM Outlook - Higher but Cautious
GOOD MORNING, The markets broke heavily on Monday and are attempting a recovery trade today. The only question would be is this a dead-cat bounce after yesterday's aggressive selling? Many weaker longs were stopped out, and that could be the theme of December, where more trade...
Technical Views - Up at Resistance
SPREADS March crush trades to 97.71c/bu while oilshare trades to 32.40%. No deliveries find Dec/March corn narrowing into 6c from 6 1/2c, while the Dec/Dec inverse trades at 12c. Jan/March beans trade from 1/2c to 1 1/2c carry. Dec/March meal trades from $4.60 inverse to...
PM Post - Negative Technicals
THE OPEN Jan beans: 11 lower Jan meal: 2.30 lower Jan soyoil: 60 lower March corn: 2 lower March wheat: 6 3/4 lower The market opened into weakness with more negative technical signals arising that led to a better round of long liquidation. Beans traded weake...
AM Outlook - Theme of the Week: Correction
GOOD MORNING Prices are mixed with new contract highs in corn, but everything lower this morning as head into first day and end-of-month profit-taking. Prices start out the PM session on a bullish note, but fund profit-taking seems to be the theme heading into the last day of November. Ja...
Technical Views - Lower on Correction
SPREADS Jan oilshare trades to 32.42% while crush trades down to 99.40c/bu. Jan/March beans trades from 1/2c to 1c carry, while Dec/March meal trades up to $4.00 from $3.70. Dec/March corn narrows into 7 1/4c from 9c, while Dec/March wheat trades from 9 3/4c into 7 1/4c. March...
PM Post - Low Volume Equals Big Swings
THE OPEN Jan beans: 1 higher Jan meal: 1.90 higher Jan soyoil: 38 higher March corn: 1 lower March wheat: 3/4 lower The markets opened as expected but encountered profit-taking from the start of the session. Pressure was noted as December contracts continue t...
AM Outlook - Firm into the Holiday
GOOD MORNING, The markets are mostly firm this morning after trading mostly higher in the night session. Dec and Jan meal placed new contract highs overnight, and there are rumors that China purchased both US and Brazilian beans on the break. Those rumors come despite reports of pos...
Technical Views - Mostly Higher
SPREADS Jan crush trades to 1.05c/bu while oilshare trades to 32.38%. December open interest continues to liquidate. Dec/March corn trades out to 7c from 6 1/4c, while the Dec/Dec inverse trades from 14c down to 11 3/4c. Dec/March wheat trades from 5 3/4c out to 7c. ...
PM Post - Profit-taking; Eye on Sale Washouts
THE OPEN Jan beans: 10 lower Jan meal: 1.00 higher Jan soyoil: 69 lower March corn: 5 1/4 lower March wheat: 3/4 lower The markets opened lower with more fund selling and profit-taking into the opening hour. Rumors/chatter of possible Chinese bean wash-outs w...
AM Outlook - Find Value Level Lows
GOOD MORNING Prices are lower on profit-taking heading into the Thanksgiving holiday, even though good demand and adverse weather continues. As to demand; corn exports are ahead of last year's pace by 143 mln bu vs. 132 mln bu week ago, with beans ahead by 368 mln bu vs. 358 week ago.&nbs...
Technical Views - Down for the Holidays
SPREADS Jan crush trades down to 98c/bu, under 1.00c/bu, around 40c off its highs. Oilshare trades down to 32.36% in a correction. Dec/March corn trades into 6 1/2c from 7c while the Dec/Dec inverse falls to 9 1/2c from 15 1/2c. Dec/March wheat trades from 4 1/2c carry to 5 1/...
PM Post - Weaker Trading Ranges
THE OPEN Jan beans: 2 lower Jan meal: .80 lower Jan soyoil: 5 higher March corn: 1/4 lower March wheat: 3/4 lower The markets opened tentatively for the soy complex and lower for wheat. Major reversal signals created weaker trade today, as the seasonal rally...
AM Outlook - Higher but Cautious
GOOD MORNING, The markets broke heavily on Monday and are attempting a recovery trade today. The only question would be is this a dead-cat bounce after yesterday's aggressive selling? Many weaker longs were stopped out, and that could be the theme of December, where more trade...
Technical Views - Up at Resistance
SPREADS March crush trades to 97.71c/bu while oilshare trades to 32.40%. No deliveries find Dec/March corn narrowing into 6c from 6 1/2c, while the Dec/Dec inverse trades at 12c. Jan/March beans trade from 1/2c to 1 1/2c carry. Dec/March meal trades from $4.60 inverse to...
PM Post - Negative Technicals
THE OPEN Jan beans: 11 lower Jan meal: 2.30 lower Jan soyoil: 60 lower March corn: 2 lower March wheat: 6 3/4 lower The market opened into weakness with more negative technical signals arising that led to a better round of long liquidation. Beans traded weake...
AM Outlook - Theme of the Week: Correction
GOOD MORNING Prices are mixed with new contract highs in corn, but everything lower this morning as head into first day and end-of-month profit-taking. Prices start out the PM session on a bullish note, but fund profit-taking seems to be the theme heading into the last day of November. Ja...
Technical Views - Lower on Correction
SPREADS Jan oilshare trades to 32.42% while crush trades down to 99.40c/bu. Jan/March beans trades from 1/2c to 1c carry, while Dec/March meal trades up to $4.00 from $3.70. Dec/March corn narrows into 7 1/4c from 9c, while Dec/March wheat trades from 9 3/4c into 7 1/4c. March...
PM Post - Low Volume Equals Big Swings
THE OPEN Jan beans: 1 higher Jan meal: 1.90 higher Jan soyoil: 38 higher March corn: 1 lower March wheat: 3/4 lower The markets opened as expected but encountered profit-taking from the start of the session. Pressure was noted as December contracts continue t...
AM Outlook - Firm into the Holiday
GOOD MORNING, The markets are mostly firm this morning after trading mostly higher in the night session. Dec and Jan meal placed new contract highs overnight, and there are rumors that China purchased both US and Brazilian beans on the break. Those rumors come despite reports of pos...
Technical Views - Mostly Higher
SPREADS Jan crush trades to 1.05c/bu while oilshare trades to 32.38%. December open interest continues to liquidate. Dec/March corn trades out to 7c from 6 1/4c, while the Dec/Dec inverse trades from 14c down to 11 3/4c. Dec/March wheat trades from 5 3/4c out to 7c. ...
PM Post - Profit-taking; Eye on Sale Washouts
THE OPEN Jan beans: 10 lower Jan meal: 1.00 higher Jan soyoil: 69 lower March corn: 5 1/4 lower March wheat: 3/4 lower The markets opened lower with more fund selling and profit-taking into the opening hour. Rumors/chatter of possible Chinese bean wash-outs w...
AM Outlook - Find Value Level Lows
GOOD MORNING Prices are lower on profit-taking heading into the Thanksgiving holiday, even though good demand and adverse weather continues. As to demand; corn exports are ahead of last year's pace by 143 mln bu vs. 132 mln bu week ago, with beans ahead by 368 mln bu vs. 358 week ago.&nbs...
Technical Views - Down for the Holidays
SPREADS Jan crush trades down to 98c/bu, under 1.00c/bu, around 40c off its highs. Oilshare trades down to 32.36% in a correction. Dec/March corn trades into 6 1/2c from 7c while the Dec/Dec inverse falls to 9 1/2c from 15 1/2c. Dec/March wheat trades from 4 1/2c carry to 5 1/...