By: Kelley Fornoff – Grains finished lower after another bearish day for most commodities. The general market feel is weaker but we have another round of US/China trade talks starting tomorrow. China’s delegates reportedly landed in the US today and are expected to bring counter proposals to US demands made…
Author: Kelley Fornoff
Afternoon Grain Market Recap
By: Kelley Fornoff – Grains traded both sides of unchanged today while soybeans found some temporary strength on lower production estimates out of Brazil. Deral, Brazil’s government agency cut its soybean production forecast for Parana from 19.1 MMT in December to its now current forecast of 16.8 MMT. At one…
Afternoon Grain and Cattle Recap
Grains – Kelley Fornoff Rumors of China buying wheat circulated around 11:30 today which was enough to push through some minor resistance areas and trigger buying across all grains today. Some are saying that it was a small amount that was purchased but any amount China purchases from the US…
Afternoon Grain and Cattle Comments
Grains – Kelley Fornoff It was a quiet Wednesday across most markets with corn, soybeans, and wheat all ultimately ending the day slightly higher. Corn found support throughout the day on reports that South Korea purchased around 260,000 MT of US corn overnight for March/April. March corn closed 2’6 higher…
Afternoon Grain and Cattle Recap
Grains – Kelley Fornoff Earlier today, it was reported that US Trade Representative Robert Lighthizer saw no progress in last week’s US/China meetings which sparked a selloff in corn and soybeans. Further, Lighthizer was reported as saying that he saw no progress in “structural changes” that China needs to make…