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Morning Wire
It appears the fund long selloff has hit stride now in row crops despite new overnight calls for too much flooding rain in the central US over the next 5 days
Wheats higher overnight on new world wheat tenders, row crops neutral awaiting the final results of the great Wed-Fri IA rain event.
MGE wheat explodes higher off poor crop ratings, other ags try to rally with it and fail overnight
Lower overnight on big weekend rains and big rains forecast east of the Mississippi in the 7 day forecast.
Overnight recovery of about half in row crop and all of wheat losses from yesterday.
Macro, weather, and poor export sales led meltdown of US ag futures overnight leaves markets looking ripe for spec long liquidation
Turnaround Wednesday for all the US ag futures except soybeans
Lower again on continued ideas of cooler/wetter US weather. Caveat is SN higher and CN/CZ higher
Complete washout on an inch of rain for areas of WI-IL-IA plus a 8-14 day forecast lacking heat and adding wet to the eastern half of the US
It appears the fund long selloff has hit stride now in row crops despite new overnight calls for too much flooding rain in the central US over the next 5 days
Wheats higher overnight on new world wheat tenders, row crops neutral awaiting the final results of the great Wed-Fri IA rain event.
MGE wheat explodes higher off poor crop ratings, other ags try to rally with it and fail overnight
Lower overnight on big weekend rains and big rains forecast east of the Mississippi in the 7 day forecast.
Overnight recovery of about half in row crop and all of wheat losses from yesterday.
Macro, weather, and poor export sales led meltdown of US ag futures overnight leaves markets looking ripe for spec long liquidation
Turnaround Wednesday for all the US ag futures except soybeans
Lower again on continued ideas of cooler/wetter US weather. Caveat is SN higher and CN/CZ higher
Complete washout on an inch of rain for areas of WI-IL-IA plus a 8-14 day forecast lacking heat and adding wet to the eastern half of the US
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