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Morning Wire
Conab puts out little changed monthly update, S American forecasts drier in N and C Brazil while wetter in S Brazil and Arg, US row crops take a slight downtick overnight but US winter wheats claw back to slightly higher by the overnight close.
Continued overnight firmness in US ags softens somewhat by the overnight close as macros are decidedly unhelpful.
Quiet US ags overnight with the crop reports today. Macros on the move with USDX and crude higher, bond and 10 yr note futures lower.
Slightly lower overnight as we await Fridays crop reports.
Stronger USD overnight, weaker yuan as Chinese govt will let it fall some and not intervene off tariff fears, weak but technically unimportant grains overnight. We await the index rebalances that begin today and the crop reports on Friday.
Beans move overnight to below all ma lines, corn gives up a little ground after a huge managed money buy of 68000 uncovered on yesterdays COT, and wheats near unch with hard wheats gaining on SRW.
Big up move reversals in US ags overnight mainly on a weaker USD.
Lower but holding technical support for US corn, beans, wheats overnight. USDX slightly lower not higher again. Quiet world ag futures overnight. Arg forecasts remain concerningly dry.
USDX and crude higher, Matif wheat also higher as Euro makes new lows since 2022.
Conab puts out little changed monthly update, S American forecasts drier in N and C Brazil while wetter in S Brazil and Arg, US row crops take a slight downtick overnight but US winter wheats claw back to slightly higher by the overnight close.
Continued overnight firmness in US ags softens somewhat by the overnight close as macros are decidedly unhelpful.
Quiet US ags overnight with the crop reports today. Macros on the move with USDX and crude higher, bond and 10 yr note futures lower.
Slightly lower overnight as we await Fridays crop reports.
Stronger USD overnight, weaker yuan as Chinese govt will let it fall some and not intervene off tariff fears, weak but technically unimportant grains overnight. We await the index rebalances that begin today and the crop reports on Friday.
Beans move overnight to below all ma lines, corn gives up a little ground after a huge managed money buy of 68000 uncovered on yesterdays COT, and wheats near unch with hard wheats gaining on SRW.
Big up move reversals in US ags overnight mainly on a weaker USD.
Lower but holding technical support for US corn, beans, wheats overnight. USDX slightly lower not higher again. Quiet world ag futures overnight. Arg forecasts remain concerningly dry.
USDX and crude higher, Matif wheat also higher as Euro makes new lows since 2022.
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