By: Patrick McRae – Grain markets had some downward pressure to begin the day but wound up closing higher on all fronts. The wheat market has seen the most bullish close in months as Dec 17 wheat closed above its prior consolidation lows up 7 ¾ at $4.61 1/2. While…
Author: Kelley Fornoff
Overnight Market Update
By: Kelley Fornoff – Grains are lower with the exception of wheat which is seeing a small rally ahead of Friday’s Quarterly Stocks Report and Small Grains Report. At the break, December corn is 0’4 lower at 353’2, November soybeans are 3’2 lower at 968’0, and December Chicago wheat is…
Afternoon Market Recap
By: Patrick McRae – Grain markets traded mixed throughout the day with corn and wheat edging higher and soybeans closing with double-digit losses on the day. The US dollar has begun bouncing higher and now sits at resistance. Crude oil has been trading north of $50/barrel all day and the…
Overnight Market Update
By: Kelley Fornoff – Harvest pressure and decent weather forecasts have grains lower overnight. At the break, December corn is 1’4 lower at 352’0, November soybeans are 5’4 lower at 978’6, and December Chicago wheat is 2’2 lower at 447’2. Rains are in the forecast for the Plains and should…
Afternoon Market Recap
By: Patrick McRae – Grain markets closed the day friendly but Chicago wheat is still having a hard time breaking past $4.50 in December. Talks of dryness in South America seem to spur spec money interest, and export sales in soybeans continue to impress the market. The dollar index is…