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Ag options expiration day today for March contracts followed by US ag markets closed Monday for holiday means volatility potential today.
Overnight ag rally in US markets on more Russia/Ukraine concerns along with diminishing S American rain prospects in the forecasts.
An ag futures light rebound overnight mainly on “not so fast, Russia hasnt left the border yet” talk.
Russia/Ukraine tension reduction, S American/US S plains weather fears slightly lower, risk off lower overnights as a result.
Overnight early gains turned into losses in ag futures. Ukraine/Russia war/no war, S American rain/no rain, US S plains rain/no rain all factors. Nothing technically happened although US soybean futures are awful close to looking not so good.
An early wire today for us, not much news so we ran some old charts of soybean rally years for you to peruse
Conab drops their Brazil soybean estimate from 139 MMT to 125. USDA yesterday was at 134. Time for price rationing.
US crop reports today, Conab tomorrow, Malaysian palmoil a bunch higher on more export control measures.
StatsCan this AM finds very low Canadian wheat stocks, spring wheat rallies to unch as a result. Other ags were lower waiting on US crop reports tomorrow.
Ag options expiration day today for March contracts followed by US ag markets closed Monday for holiday means volatility potential today.
Overnight ag rally in US markets on more Russia/Ukraine concerns along with diminishing S American rain prospects in the forecasts.
An ag futures light rebound overnight mainly on “not so fast, Russia hasnt left the border yet” talk.
Russia/Ukraine tension reduction, S American/US S plains weather fears slightly lower, risk off lower overnights as a result.
Overnight early gains turned into losses in ag futures. Ukraine/Russia war/no war, S American rain/no rain, US S plains rain/no rain all factors. Nothing technically happened although US soybean futures are awful close to looking not so good.
An early wire today for us, not much news so we ran some old charts of soybean rally years for you to peruse
Conab drops their Brazil soybean estimate from 139 MMT to 125. USDA yesterday was at 134. Time for price rationing.
US crop reports today, Conab tomorrow, Malaysian palmoil a bunch higher on more export control measures.
StatsCan this AM finds very low Canadian wheat stocks, spring wheat rallies to unch as a result. Other ags were lower waiting on US crop reports tomorrow.
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