Morning Calls & Comments (8/4)

grain calls
grain calls
(Commodity Update)

Corn: 1 to 3 cents higher.

Soybeans: 13 to 15 cents higher.

Wheat: HRW and SRW 4 to 5 cents higher, spring wheat 9 to 12 cents higher.

 

Cattle: Steady-firmer

Hogs: Steady-weaker

 

Soybean futures firmed late in the overnight session amid corrective buying following three days of sharp declines. Corn and wheat also rose. Malaysian palm oil futures fell 1.2% on projections for higher inventories. Front-month crude oil futures edged slightly higher after earlier falling to a six-month low. U.S. stock index futures signal a firmer open, while the U.S. dollar index is down around 250 points this morning.

Crop moisture stress remains a “big concern” in the northwestern U.S. Corn Belt, but rain is expected to impact much of the region over the late weekend and early part of next week, World Weather Inc. said today. “Only partial relief is expected, but sufficient rain should occur to take the edge off of stress for a little while,” the forecaster said.

 

Latest News

Grains Try to Recover Midday with Reversal in Outside Markets:  Live Cattle Mixed with Bullish Cattle Inventory Expectations
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Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday
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Morning Calls & Comments (1.13.23)
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Soybeans faced light profit-taking pressure at the end of the overnight session, which is likely to spill over into the start of daytime trade.