By: Kelley Fornoff – Grains are higher on technicals as fundamentals have done little to offer support this week. At the break, May corn is 2’0 higher at 375’6, May soybeans are 7’0 higher at 1042’6, and May Chicago wheat is 6’4 higher at 450’2. It seems the fund buying…
Author: Kelley Fornoff
Overnight Market Update
By: Kelley Fornoff – Grains are higher as they correct themselves from oversold conditions. Heading into the last trading session of February, May corn is 2’4 higher at 370’6, May soybeans are 9’2 higher at 1031’2, and May Chicago wheat is 4’0 higher at 442’6. In outside news, traders are…
Daily Comments
By: Kelley Fornoff – Grains were slightly weaker overnight awaiting news from the USDA outlook forum. As of a few minutes ago, Robert Johansson, chief economist of the USDA has projected we will see 90 million acres of corn planted this year, 88 million soybean acres, 46 million wheat acres,…
Overnight Market Update
By: Kelley Fornoff – Grains are slightly higher overnight but continue to run into strong overhead pressure. At the break, March corn is 1’4 higher at 370’6, March soybeans are 3’6 higher at 1030’0, and March Chicago wheat is 2’6 higher at 438’6. Corn continues to be in the daily…
Afternoon Market Recap
By: Patrick McRae – Today saw mostly lower trade in the grain markets. Follow through selling was seen after the long three-day weekend, but corn managed to squeak out a positive close for the day. Technical indicators and cycle counts are beginning to shape and volatility has begun to pick…