Morning Calls & Comments (8/9)

grain calls
grain calls
(Commodity Update)

Corn: 14 to 16 cents higher.

Soybeans: 27 to 30 cents higher.

Wheat: 13 to 17 cents higher.

Cattle: Steady-firmer

Hogs: Steady-firmer

Corn futures gapped higher at the start of overnight trade and reached the highest levels in over a week after USDA’s crop condition ratings slipped more than expected. Soybeans and wheat also surged. Malaysian palm oil futures rose 1.3% after Indonesia lowered its export tax threshold on crude palm oil. Front-month crude oil futures were up more than $1. U.S. stock index futures signal a weaker open, while the U.S. dollar index is down nearly 400 points.

USDA reported a sale of 133,000 MT of corn for delivery to China during the 2022-23 marketing year. Today’s sale follows Monday’s announcement of a combined 225,000 MT in corn sales to Italy and “unknown destinations” for 2022-23.

 

Latest News

Grains Try to Recover Midday with Reversal in Outside Markets:  Live Cattle Mixed with Bullish Cattle Inventory Expectations
Grains Try to Recover Midday with Reversal in Outside Markets: Live Cattle Mixed with Bullish Cattle Inventory Expectations

Grains try to recover midday with help from the reversal in outside markets. LC mixed with bullish hopes for the USDA Cattle Inventory Report.  Hogs lower. Scott Varilek of Kooima Kooima Varilek has details.  

Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday
Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday

Grains higher early with technical buying and a drier Argentina weather concerns. Cattle higher with $1 higher cash on Friday. Hogs back lower.  Michelle Rook has a quick update.  

Today's Market Recap (1.20.23)
Today's Market Recap (1.20.23)

Market recaps for corn, soybeans, wheat, cattle & hogs.

Improving Argentine Weather Forecasts Weigh on Grain, Soy
Improving Argentine Weather Forecasts Weigh on Grain, Soy

Forecasts of improving weather in Argentina over the next two weeks weighed on the grain and soy complex.

Corn, Soybeans & Wheat Prices Fall; Cattle Mixed
Corn, Soybeans & Wheat Prices Fall; Cattle Mixed

Today's closing prices and market recaps.

Morning Calls & Comments (1.13.23)
Morning Calls & Comments (1.13.23)

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.