PM Post - Technical Covering Following a Bearish Week
THE OPEN November beans: 9 3/4 higher December meal: 2.40 higher December soyoil: 13 higher December corn: 2 1/2 higher September wheat: 4 1/4 higher Prices worked higher as the setback this week has been hefty. Shorts were covering with some also picking bo...
Technical Views - Contraseasonal Due to Weather
SPREADS Sep crush trades to 96c/bu while oilshare weakens to 30.95%. Corn spreads are slightly wider with Dec/March trading out to 8 1/2c while Sep/Dec trades out to 5 1/4c from 5c. The Dec/Dec corn inverse trades from 16c down to 13c after rebounding into the 20's last week. ...
AM Outlook: Healthy Dose of Housecleaning
GOOD MORNING, Topping formations and slightly improved forecasts for next week shook the weaker corn bull out this week on a healthy dose of housecleaning activity. Topping formation charts and scattered rainfall over the Midwest created long liquidation in grains, while beans found...
Risk-off Day
THE OPEN: Nov beans: 3 3/4 lower Dec meal: 1.10 lower Dec soyoil: 2 higher Dec corn: 7 lower Sep wheat: 6 3/4 lower A combination of slightly improved forecasts and technical selling sent prices to new lows for the recent move down (which actually started Mo...
Watching Nov Beans and Sep Wheat
SPREADS Sep crush is firmer at 98c/bu while oilshare firms back over 30% to trade to 31.10% as meal dips against a firmer soyoil market. Corn spreads are slightly weaker with Dec/March trading from 7 1/4c to 7 3/4c. Dec/Dec inverse falls from a 21 3/4c high to 15c. Sep/Dec mea...
Weather Makes it Weaker
GOOD MORNING, Prices are lower as more organized rainfall hits key growing areas across Minnesota, Illinois, Missouri, and Iowa. Heavy showers pushed through the St. Louis area yesterday, dropping temperatures by 20 degrees. Today, the extreme heat is back. With the late...
Basic Explanation of Current Technical Markets
Bottom Line: Markets are technically sideways until there is new information to guide them. It is fairly interesting that if you pop up a bean, wheat, or corn chart, they present wide sideways trading formations at the top of an extended run higher, which can become toppy if we settle under key...
Choppy, Sloppy and Thin
THE OPEN: November beans: 4 1/2 higher December meal: 1.40 higher December soyoil: 17 higher December corn: 5 higher September wheat: 4 higher The markets opened as expected but a buy corn/sell bean trade quickly emerged as a day trend.&n...
Technical Wonder Day
SPREADS Sep crush trades firmer at 97c/bu while oilshare firms to 31.25%. Buy soyoil/sell meal trade continues. Dec/Dec corn inverse trades firmer up to 26 3/4c from 21c, while Dec/March trades out to 7 1/2c from 6 3/4c. August/Nov beans trades from 17 3/4c out to 18 1/4...
So Low, Nowhere to Go but Up
GOOD MORNING, Prices continue to work into trading range territory, with current precipitation taking us down towards trading range lows encouraged by the thinking that Monday's crop ratings are only going to improve. Having been so low in terms of condition ratings, perhaps there i...
Weeks to Gain, Two Days to Lose
THE OPEN: November beans: 12 lower December meal: 4.20 lower December soyoil: 20 lower December corn: 8 lower September wheat: 3 3/4 lower The markets opened weaker than expected as more follow-through selling took place following Monday's...
How the Day Trades
SPREADS Sep crush trades at 95.55c/bu while oilshare firms further to 31.27%. Dec/March corn trades out to 7 1/2c from 6 3/4c while the Dec/Dec inverse trades from 27 3/4c down to 22 3/4c. Sep/Dec meal carry trades from $4.60 out to $5.00 with $4.70 close. August/Nov bea...
PM Post - Technical Covering Following a Bearish Week
THE OPEN November beans: 9 3/4 higher December meal: 2.40 higher December soyoil: 13 higher December corn: 2 1/2 higher September wheat: 4 1/4 higher Prices worked higher as the setback this week has been hefty. Shorts were covering with some also picking bo...
Technical Views - Contraseasonal Due to Weather
SPREADS Sep crush trades to 96c/bu while oilshare weakens to 30.95%. Corn spreads are slightly wider with Dec/March trading out to 8 1/2c while Sep/Dec trades out to 5 1/4c from 5c. The Dec/Dec corn inverse trades from 16c down to 13c after rebounding into the 20's last week. ...
AM Outlook: Healthy Dose of Housecleaning
GOOD MORNING, Topping formations and slightly improved forecasts for next week shook the weaker corn bull out this week on a healthy dose of housecleaning activity. Topping formation charts and scattered rainfall over the Midwest created long liquidation in grains, while beans found...
Risk-off Day
THE OPEN: Nov beans: 3 3/4 lower Dec meal: 1.10 lower Dec soyoil: 2 higher Dec corn: 7 lower Sep wheat: 6 3/4 lower A combination of slightly improved forecasts and technical selling sent prices to new lows for the recent move down (which actually started Mo...
Watching Nov Beans and Sep Wheat
SPREADS Sep crush is firmer at 98c/bu while oilshare firms back over 30% to trade to 31.10% as meal dips against a firmer soyoil market. Corn spreads are slightly weaker with Dec/March trading from 7 1/4c to 7 3/4c. Dec/Dec inverse falls from a 21 3/4c high to 15c. Sep/Dec mea...
Weather Makes it Weaker
GOOD MORNING, Prices are lower as more organized rainfall hits key growing areas across Minnesota, Illinois, Missouri, and Iowa. Heavy showers pushed through the St. Louis area yesterday, dropping temperatures by 20 degrees. Today, the extreme heat is back. With the late...
Basic Explanation of Current Technical Markets
Bottom Line: Markets are technically sideways until there is new information to guide them. It is fairly interesting that if you pop up a bean, wheat, or corn chart, they present wide sideways trading formations at the top of an extended run higher, which can become toppy if we settle under key...
Choppy, Sloppy and Thin
THE OPEN: November beans: 4 1/2 higher December meal: 1.40 higher December soyoil: 17 higher December corn: 5 higher September wheat: 4 higher The markets opened as expected but a buy corn/sell bean trade quickly emerged as a day trend.&n...
Technical Wonder Day
SPREADS Sep crush trades firmer at 97c/bu while oilshare firms to 31.25%. Buy soyoil/sell meal trade continues. Dec/Dec corn inverse trades firmer up to 26 3/4c from 21c, while Dec/March trades out to 7 1/2c from 6 3/4c. August/Nov beans trades from 17 3/4c out to 18 1/4...
So Low, Nowhere to Go but Up
GOOD MORNING, Prices continue to work into trading range territory, with current precipitation taking us down towards trading range lows encouraged by the thinking that Monday's crop ratings are only going to improve. Having been so low in terms of condition ratings, perhaps there i...
Weeks to Gain, Two Days to Lose
THE OPEN: November beans: 12 lower December meal: 4.20 lower December soyoil: 20 lower December corn: 8 lower September wheat: 3 3/4 lower The markets opened weaker than expected as more follow-through selling took place following Monday's...
How the Day Trades
SPREADS Sep crush trades at 95.55c/bu while oilshare firms further to 31.27%. Dec/March corn trades out to 7 1/2c from 6 3/4c while the Dec/Dec inverse trades from 27 3/4c down to 22 3/4c. Sep/Dec meal carry trades from $4.60 out to $5.00 with $4.70 close. August/Nov bea...