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Morning Wire
Turnaround Tuesday in the macros, not much going on in ags on very light overnight volumes
Quiet overnight, markets have an overall slightly bullish tone but seem to be biding time awaiting further US corn harvest yeild data and waiting on the Sep 30 quarterly grain stocks and small grains summary reports.
higher overnights undone late by poor US wheat and corn sales weekly report. China buys another 132,000 MT of US soybeans reported this AM.
World wheat and corn higher on a new leg up, Malaysian palmoil also higher testing contract highs. But US soybeans, Dalian corn, and Dalian soymeal flattish.
A decent rally in US ags overnight on oversold conditions and some new bull inputs, Canadian all wheat production now est at 21.7 MMT.
Lower overnights in US wheat and corn futures, soybeans also finally succumb to slightly lower prices.
Choppy quiet night awating todays midday USDA crop report
FSA early data release shocks the trade, appears to have caused at least some fund length exits ahead of the crop report Friday that may or may not incorporate this data.
Inside nights for everything US ag futures, little fresh news, still awaiting the USDA numbers Friday.
Turnaround Tuesday in the macros, not much going on in ags on very light overnight volumes
Quiet overnight, markets have an overall slightly bullish tone but seem to be biding time awaiting further US corn harvest yeild data and waiting on the Sep 30 quarterly grain stocks and small grains summary reports.
higher overnights undone late by poor US wheat and corn sales weekly report. China buys another 132,000 MT of US soybeans reported this AM.
World wheat and corn higher on a new leg up, Malaysian palmoil also higher testing contract highs. But US soybeans, Dalian corn, and Dalian soymeal flattish.
A decent rally in US ags overnight on oversold conditions and some new bull inputs, Canadian all wheat production now est at 21.7 MMT.
Lower overnights in US wheat and corn futures, soybeans also finally succumb to slightly lower prices.
Choppy quiet night awating todays midday USDA crop report
FSA early data release shocks the trade, appears to have caused at least some fund length exits ahead of the crop report Friday that may or may not incorporate this data.
Inside nights for everything US ag futures, little fresh news, still awaiting the USDA numbers Friday.
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