PM Post - New Lows
THE OPEN May beans: 2 1/2 higher May meal: .40 lower May soyoil: 21 higher May corn: 4 higher July wheat: 8 1/4 higher The market opened as called but funds sold more corn, bean, and meal sending prices to new trading range or contract lows. Wheat and soyoil...
Technical Views - Chasing Oil Higher
SPREADS July crush trades down to 1.06c/bu while oilshare is firmer, trading back over 30.0%. July/Dec corn trades out to 10 3/4c from 9 3/4c, while May/July trades from 4 3/4c to 5 1/2c. July/Dec meal inverse weakens to $1.80 from $2.60. July/Nov bean inverse weakens from 2 1...
AM Outlook - Chasing Petroleum
GOOD MORNING, Prices were mixed to lower this morning, with the board continuing to follow the path of crude. As prices neared the close, crude jumped to new highs taking Ag prices along for the ride, as the correlation between macros and ags continues. If energies continue to rally...
PM Post - Volatile, Mostly Lower
THE OPEN May beans: 4 1/2 lower May meal: 1.20 lower May soyoil: 3 higher May corn: 1 1/2 higher July wheat: 8 lower Prices opened as expected but more selling pressure was noted across the board as funds continued to put on sales with early morning technical weakn...
Technical Views - Bottom Picking
SPREADS July crush trades down to 1.12c/bu while oilshare sells off to 29.79%. Bullspreads remain firm with July/Dec corn trading into 8c from 9c, and May/July corn into 3 1/2c from 3 3/4c. July/Nov bean inverse weakens to 2c from 5c on liquidation. July/Dec meal also we...
AM Outlook - Shorts Add Volume
GOOD MORNING, Macro market weight created new lows in Ags yesterday, with mixed follow-through this morning. Funds sold across the board yesterday, as corn printed new contract low. Corn now has all the hallmarks of a bear market in progress, with new contract lows, higher volume, a...
PM Post - Lower on Selling
THE OPEN May beans: 12 1/2 lower May meal: 3.30 lower May soyoil: 51 lower May corn: 3 1/2 lower July wheat: 4 3/4 lower Negative macro sentiment and a higher US dollar pressured prices from the start of the day. Negative technical signals on the charts provi...
Technical Views - Going Low
SPREADS July crush trades to 1.12c/bu while oilshare is slightly weaker this morning trading down to 29.89%. May/July corn trades into 4 1/2c from 5c, while July/Dec narrows into 10 1/2c from 11 3/4c. July/Nov beans trades down to 6 3/4c from its 12 1/4c inverse high. Ju...
AM Outlook - These Numbers Could Change
GOOD MORNING, The much anticipated report has come and gone, with much less fanfare than expected. This morning, prices are lower across the board as the impact of the cornovirus continues, along with bearish sentiment from that report, and macro pressure. Surprisingly, corn i...
PM Post - Not a Bad Performance
THE OPEN May beans: 4 1/4 lower May meal: 1.10 lower May soyoil: 3 lower May corn: 1/4 lower July wheat: 3/4 higher Prices were subdued heading into today's Planting Intentions Report. Funds headed into the numbers net short corn, slightly long wheat, long me...
Technical Views - Mostly Lower
SPREADS Wheat inverses remain strong nearby, with May/July reaching 24c over on Friday, now trading from 13 1/2c high to 10 3/4c. July crush trades firmer to 1.18c/bu while oilshare is firmer at 29.79%. July/Dec corn narrows into 12c from 12 1/2c. July/Nov bean inverse trades...
AM Outlook - Big Day!
GOOD MORNING, It's month's end, end of a quarter, with a March 31 Planting Intentions and Quarterly stocks report on the way at 11:00 Chicago time. No doubt that we will all be a bit smarter after 11:00, as we see how the farmers responded to their survey of acreage intentions. Expe...
PM Post - New Lows
THE OPEN May beans: 2 1/2 higher May meal: .40 lower May soyoil: 21 higher May corn: 4 higher July wheat: 8 1/4 higher The market opened as called but funds sold more corn, bean, and meal sending prices to new trading range or contract lows. Wheat and soyoil...
Technical Views - Chasing Oil Higher
SPREADS July crush trades down to 1.06c/bu while oilshare is firmer, trading back over 30.0%. July/Dec corn trades out to 10 3/4c from 9 3/4c, while May/July trades from 4 3/4c to 5 1/2c. July/Dec meal inverse weakens to $1.80 from $2.60. July/Nov bean inverse weakens from 2 1...
AM Outlook - Chasing Petroleum
GOOD MORNING, Prices were mixed to lower this morning, with the board continuing to follow the path of crude. As prices neared the close, crude jumped to new highs taking Ag prices along for the ride, as the correlation between macros and ags continues. If energies continue to rally...
PM Post - Volatile, Mostly Lower
THE OPEN May beans: 4 1/2 lower May meal: 1.20 lower May soyoil: 3 higher May corn: 1 1/2 higher July wheat: 8 lower Prices opened as expected but more selling pressure was noted across the board as funds continued to put on sales with early morning technical weakn...
Technical Views - Bottom Picking
SPREADS July crush trades down to 1.12c/bu while oilshare sells off to 29.79%. Bullspreads remain firm with July/Dec corn trading into 8c from 9c, and May/July corn into 3 1/2c from 3 3/4c. July/Nov bean inverse weakens to 2c from 5c on liquidation. July/Dec meal also we...
AM Outlook - Shorts Add Volume
GOOD MORNING, Macro market weight created new lows in Ags yesterday, with mixed follow-through this morning. Funds sold across the board yesterday, as corn printed new contract low. Corn now has all the hallmarks of a bear market in progress, with new contract lows, higher volume, a...
PM Post - Lower on Selling
THE OPEN May beans: 12 1/2 lower May meal: 3.30 lower May soyoil: 51 lower May corn: 3 1/2 lower July wheat: 4 3/4 lower Negative macro sentiment and a higher US dollar pressured prices from the start of the day. Negative technical signals on the charts provi...
Technical Views - Going Low
SPREADS July crush trades to 1.12c/bu while oilshare is slightly weaker this morning trading down to 29.89%. May/July corn trades into 4 1/2c from 5c, while July/Dec narrows into 10 1/2c from 11 3/4c. July/Nov beans trades down to 6 3/4c from its 12 1/4c inverse high. Ju...
AM Outlook - These Numbers Could Change
GOOD MORNING, The much anticipated report has come and gone, with much less fanfare than expected. This morning, prices are lower across the board as the impact of the cornovirus continues, along with bearish sentiment from that report, and macro pressure. Surprisingly, corn i...
PM Post - Not a Bad Performance
THE OPEN May beans: 4 1/4 lower May meal: 1.10 lower May soyoil: 3 lower May corn: 1/4 lower July wheat: 3/4 higher Prices were subdued heading into today's Planting Intentions Report. Funds headed into the numbers net short corn, slightly long wheat, long me...
Technical Views - Mostly Lower
SPREADS Wheat inverses remain strong nearby, with May/July reaching 24c over on Friday, now trading from 13 1/2c high to 10 3/4c. July crush trades firmer to 1.18c/bu while oilshare is firmer at 29.79%. July/Dec corn narrows into 12c from 12 1/2c. July/Nov bean inverse trades...
AM Outlook - Big Day!
GOOD MORNING, It's month's end, end of a quarter, with a March 31 Planting Intentions and Quarterly stocks report on the way at 11:00 Chicago time. No doubt that we will all be a bit smarter after 11:00, as we see how the farmers responded to their survey of acreage intentions. Expe...