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[…]
Click here sign up for a FREE! trial subscription to our daily newsletters. Overview: After three days of fund liquidation in corn, the sell-off seems to have run its course. Early last week, the long corn position held by the trend following funds stood at a record 1.860 BB and reached a record of 715[…]
Overview: Grain futures are still gasping for air after having the wind knocked out from yesterday’s bearish stocks report in corn. The chances are that some new crop corn found its way into the report because of early harvest. However, the USDA says that this was not the case. In the meantime, it will take[…]
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[…]
December corn traded to 486.5 on Monday. Meanwhile, an even more bullish pattern could be unfolding with a major top will likely be closer to the second week of October.
Overview: There were no startling surprises in the crop production report today other than the soybean yield was higher than expected at 44.7 bpa. Meanwhile, traders expect the USDA to lower corn yields from 162.5 bpa in subsequent reports. Right now, the driving force in the grains is the funds, which are holding enormous long[…]