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Morning Wire
Another US ag pasting overnight. GFS and Euro models are at odds for KS/OK rains in the latest 06z run with GFS dry and Euro wet
US Q4 GDP 2.4 vs 2.3 avg guess. Trump tariffs on vehicle imports of 25% has inflation thoughts back – gold screaming and interest rates higher and S&P lower. US wheat weekly export sales report stunk this AM, beans not much better..
Slightly lower again in US wheats despite slightly higher row crops. US ag industry chimes in today at USTR meeting regarding Chinese boat taxes.
Lower overnights, US wheats look awful technically on their daily charts as funds pile on more new shorts.
A higher start turned lower as row crops faded then accelerated in wheat after better rains in new deferred forecasts for Black Sea winter wheat areas.
Choppy overnight trade as we await the COT report this afternoon
A quiet night turned negative for wheat after a poor US weekly wheat export sales report. Corn sales were good however, beans light and mainly to China
Rain for the US S plains today and in the 6-10 day forecast, Black Sea war is NOT concluded, US Fed monthly commentary today.
ags quiet-ish overnight although US HRW futures make a new March high again. Row crops much quieter.
Another US ag pasting overnight. GFS and Euro models are at odds for KS/OK rains in the latest 06z run with GFS dry and Euro wet
US Q4 GDP 2.4 vs 2.3 avg guess. Trump tariffs on vehicle imports of 25% has inflation thoughts back – gold screaming and interest rates higher and S&P lower. US wheat weekly export sales report stunk this AM, beans not much better..
Slightly lower again in US wheats despite slightly higher row crops. US ag industry chimes in today at USTR meeting regarding Chinese boat taxes.
Lower overnights, US wheats look awful technically on their daily charts as funds pile on more new shorts.
A higher start turned lower as row crops faded then accelerated in wheat after better rains in new deferred forecasts for Black Sea winter wheat areas.
Choppy overnight trade as we await the COT report this afternoon
A quiet night turned negative for wheat after a poor US weekly wheat export sales report. Corn sales were good however, beans light and mainly to China
Rain for the US S plains today and in the 6-10 day forecast, Black Sea war is NOT concluded, US Fed monthly commentary today.
ags quiet-ish overnight although US HRW futures make a new March high again. Row crops much quieter.
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