Commentary

Of the limited amount of fresh news that is floating around this morning, the majority of it is emanating from the Southern Hemisphere.  ABOIVE, the soy processing industry group in Brazil, has offered a few revisions.  They have lowered their bean production estimate to 153.8 MMT, down from their last…

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Thanks primarily to corn and wheat, the grain/soy group witnessed a nice reversal for the close yesterday, and with beans now trying to pick up the slack, they have extended higher overnight.  Thus far, we have not violated any critical levels of resistance, but as I have noted previously, we…

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Wheat In two sessions, May wheat has washed out the majority of the gains it secured early last week.  While this still leaves us above the extreme low posted on the 20th of this month at 5.53 ½, oscillators have turned lower, so bears should have the upper hand for…

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The “February Funk” continues for the corn and soy markets, but wheat has shown us a flicker of light this week.  If we were to wrap up trade at this moment, nearby Chicago wheat would have gained 28-cents and KC 9-cents.  Corn, in turn, has lost another 10-cents and spot…

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With weekly export sales detailed until tomorrow morning, the news cupboards are rather bare this morning.  We have mixed action at this point with beans under mild pressure and corn and wheat positive, but it is only the wheat that has sustained any strength thus far in the week.  Both…

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