Things quickly went from bad to worse in the grain and soy markets yesterday, and life for the bulls has not exactly improved overnight. A few markets have extended into lower lows for the year, i.e., Chicago wheat, while most of the rest are under varying degrees of pressure. With…
Market Commentary
Daily Comments
Coming into this final week of trade for April, the last thing bulls in the corn markets wanted to hear about was a cancellation of corn sales, but that is precisely what they received. The USDA reported that China canceled 327,000 MT or 12.9 million bushels this morning. Granted, in the…
Daily Comments
I am traveling this week, so morning comments may be briefer than normal. A quick glance at the combination chart would not suggest that the action in the grain/soy markets was terribly discouraging this week, but the performance for the individual commodities appears rather cautionary. If we closed right now,…
Daily Comments
I am traveling this week, so morning comments may be briefer than normal. Export sales for wheat rebounded last week, but the figures released this morning for corn and beans are even more discouraging than the price action in those markets over the past couple of days. Beginning with the…
Daily Comments
I am traveling this week, so morning comments may be briefer than normal. It would appear that we have reverted to the old tendency of seeing precious little “fresh” news at midweek. Sure, there is the rehashing of the latest statements by Russia about how their tender feeling are hurt…