Grains Commentary
The markets are trying to recover from the bad hang over of the first week of 2013 as grain markets are testing areas that have not been seen since before the start of the worst drought in 100 years.
The markets are trying to recover from the bad hang over of the first week of 2013 as grain markets are testing areas that have not been seen since before the start of the worst drought in 100 years.
Merry Christmas
Rice_GrainsThe overnight markets are rolling over as the morning is progressing as once again there is not much of any bullish influences in any market so far. The beans are down 2-4 cents, meal has lost $1, oil is down 5-10 points, corn is down 3-4 and wheat is down 5-6.
The overnight markets are all over the place, most recently collapsing from 7-8CST with beans trading down more than double digits. The meal has quickly lost $3-4, oil remains 20-30 points lower, corn is melting trading down 5-6 and wheat has drifted lower trading down 4-5 cents.
The overnight market have once again shown some signs of life in the soy-complex as this market seems to be the only market that has global interest. The beans as of 8CST are trading +6-9, meal gained $1.50-2, oil increased by 25-30 points, corn is virtually unchanged…again and wheat is up 2-3.
I am going to present the wire in a little different slant today, as I mentioned last week we are going to try some new approaches of doing things as we head into the New Year and since markets are as slow as they are I thought we would try a few new things.
The overnight trade is starting the month of December with renewed hopes that December of 2012 will give a Christmas present like the December of 2011. The beans are already +20, meal has gained $5, oil has posted gains of 70 points, corn is pushing 10 higher and wheat is also +10-12.
The overnight markets are starting to show signs of life again, but considering the bean market is down nearly 10% since the first of the month things are just trying to get its footing again before it starts to run.
Published Friday morning, 11/2/12 The overnight markets are easing due to the fact that FCS issued its estimates yesterday afternoon and to no surprise the bean yield was raised to 39.1 with overall production at 2.959b. The corn yield was also raised to 124 which is a bit surprising with overall production at 10.884. The markets as of 8CST are trading down 7-8 in the old crop beans while
Grains Commentary – Published Monday morning, 10/29/12 The effects of Sandy are creating havoc across the entire East Coast and could have effects for the next 72 hours if not longer, in the meantime the grain markets are open and it appears that $ flow is leaving the soy markets and shifting back to grains with corn trading +3-4, wheat has gained 4-5, while beans are down 12-14, meal
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