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Morning Wire
Slightly lower US ag futures overnight, sideways chop for macros and world ag futures. We get USDA and WASDE Friday, US govt likely reopens Wednesday.
US govt reopening deal reached for likely sometime this week, big Chinese demand for Brazilian soybeans being reported, ags higher overnight, stock markets higher also.
Beans a minor uptick overnight, corn unch, winter wheats lower again through support ma lines, spring wheat continues its massive relative-to-winter wheats rally +2 overnight.
Inside night lower for beans, outside of yesterdays lows lower for US winter wheats overnight. Is the US/China tariff end rally now over?
China “suspends” US extra tariffs on ags but leaves soybeans at 13%, US ag futures sideways mainly inside nights overnight. Firmness in US wheat cal spreads continues in all but KC.
Beans and corn give up yesterdays gains but SRW continues its rally amid rumors of China buying US SRW from Cargill.
US beans continue rallying despite warnings that Brazilian beans are now cheaper and China is buying Brazilian again. US wheat rallies off rumors of Chinese interest in US wheat also.
4 more cargos of beans sold to China according to Bloomberg. US winter wheats rapidly approaching downside gaps. Corn lower overnight but sideways in general.
Soybean futures market near-broken with volatility and no liquidity, Trump and Xi did meet and it was great, US gov’t still closed so no information flow for traders.
Slightly lower US ag futures overnight, sideways chop for macros and world ag futures. We get USDA and WASDE Friday, US govt likely reopens Wednesday.
US govt reopening deal reached for likely sometime this week, big Chinese demand for Brazilian soybeans being reported, ags higher overnight, stock markets higher also.
Beans a minor uptick overnight, corn unch, winter wheats lower again through support ma lines, spring wheat continues its massive relative-to-winter wheats rally +2 overnight.
Inside night lower for beans, outside of yesterdays lows lower for US winter wheats overnight. Is the US/China tariff end rally now over?
China “suspends” US extra tariffs on ags but leaves soybeans at 13%, US ag futures sideways mainly inside nights overnight. Firmness in US wheat cal spreads continues in all but KC.
Beans and corn give up yesterdays gains but SRW continues its rally amid rumors of China buying US SRW from Cargill.
US beans continue rallying despite warnings that Brazilian beans are now cheaper and China is buying Brazilian again. US wheat rallies off rumors of Chinese interest in US wheat also.
4 more cargos of beans sold to China according to Bloomberg. US winter wheats rapidly approaching downside gaps. Corn lower overnight but sideways in general.
Soybean futures market near-broken with volatility and no liquidity, Trump and Xi did meet and it was great, US gov’t still closed so no information flow for traders.
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