By: Patrick McRae – The big news today is the dollar index collapsing to further lows. The next price level support is down at $97.00. This spurred supportive buying in corn and wheat, but didn’t jump the soybean bulls as aggressively. The net short positions of spec money in the…
Author: Kelley Fornoff
Overnight Market Update
By: Kelley Fornoff – Grains are higher overnight with July corn 1’2 higher at 369’0, July soybeans 2’4 higher at 978’6, and July Chicago wheat 4’6 higher at 429’0. Soybean demand continues to provide support while corn is finding support from the supply side on reports of a potentially smaller…
Afternoon Market Recap
By: Patrick McRae – Grain markets finished strong shaking off some of their initial weakness in both corn and wheat. Cattle markets also rebounded nicely off of their lows. Much of this seems to be technical buying but we have finally seen the Dollar have a breakout lower. If this…
Overnight Market Update
By: Kelley Fornoff – Grains are mixed overnight with July corn 1’4 lower at 366’2, July soybeans 2’0 higher at 967’2, and July Chicago wheat 2’0 lower at 421’2. Planting progress is still the main focus and will likely continue to be for the next few weeks. Yesterday’s NOPA crush…
Afternoon Market Recap
By: Patrick McRae – Grain markets closed mixed with corn and wheat closing lower and soybeans finishing with modest gains. Cattle markets had another volatile day with the June and August contracts momentarily testing limit lower moves. The dollar index was lower and crude oil saw aggressive overnight buying. Temperatures…