Corn Outlook: Corn futures are being supported by the Fed’s proposed quantitative easing program that is weighing on the dollar. In addition, traders are bullish expecting the USDA to lower their yield estimate in the crop report next week from the current forecast of 155.8 bpa. In other developments, export inspections were disappointing at[…]
With a 1/3rd decline in export inspections, you can believe that investors were nervous about US Wheat Trade, add to that the dollar gaining strength abroad and the readers of Bloomberg wanted to know what was going on. Where does Bloomberg turn for reliable news on the grain trade? The same place that farmer’s do:[…]
Overview: The grains were firm in the overnight session, but lost their momentum during the pit trade because of the rebound in the dollar. While the Commitment of Traders Report on Friday showed that the fund long position in corn is below the record set in early October, their longs in soybeans has risen to[…]
Overview: China unexpectedly raised their lending rate for the first time in three years by one-quarter point. This caused the dollar to soar, the Dow lose nearly 200 points, and gold to tank nearly $40 today. As a result, there was a sharp knee-jerk reaction lower the grains. Traders fear that China’s action may cool[…]
By Whitney McFerron – Oct 12, 2010 11:22 AM ET Wheat futures rose for the third time in four sessions on speculation that dry weather will harm winter crops that U.S. farmers are planting in the Great Plains. Fields in Kansas and Nebraska will be dry through Oct. 16 after “a few light showers” today,[…]
Overview: Corn and soybeans were higher again today as the funds are buying back the positions that they liquidated early last week. Right now, traders are wildly bullish, which is predictable considering the bullish USDA report on Friday and the current stage of the pattern that we are in now. However, as I mentioned in[…]
Overview: Grain futures, with the exception of soybeans, backed off today from the forecast of ideal harvest weather this week and month end profit taking by the funds. Meanwhile, fear of inflation because of quantitative easing by the Fed’s will provide underlying support. In order for inflation to become a serious threat, however, demand[…]
Overview: During the past several sessions, the funds have gobbled up anything that related to commodities. However, they may be getting their fill, as soybeans were higher but corn and old crop wheat lower. Overall, traders are bullish from disappointing corn yields in the U.S., freeze threats in China and dryness in South America. Meanwhile, investors[…]
Overview: The commodity funds were out in full force today, which was the reason behind the strength in grains. Commodities, in general, were higher across the board even though the dollar was stronger. Most of the gains came in the overnight session, which is the typical “M.O.” of the funds. Keep in mind that they[…]
The good news is corn may be approaching multi-year highs, the bad news it, you probably won’t have much of it to sell if the current harvest reports are to be believed. Dewey Strickler explains as he analysis the week’s activity from the CBOT and what it means for the nation’s farmers. Corn Outlook: Exuberance in corn abounds from[…]