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Morning Wire
Big deliveries in soymeal, Brazilian Real crashes to new lows vs USD, month end today.
Chicago wheat Z-H strengthens overnight, spring wheat continues firm after the Trump tariff 25% Canadian import news yesterday. First intentions day on Dec ag futures on the close today.
Morning Commentary 11.26.24
Lower overnights on no weather threats globally. COT from Friday had some interesting data.
Matif continues to rally, US hard wheats second consecutive session to the upside out of their prior downtrend channel, Chicago wheat now testing downtrend channel resistance.
Slightly lower overnight US ags flat price, but firming front US hard wheat calendar spreads and intermarkets to Chicago soft wheat.
KC wheat already at a test of the Oct-Nov downtrend channel highs this AM. Cal spread weakness suggests funds are now short March US wheats and are covering?
Firm US hard wheats and hard wheat calendar spreads, soft but not technically soft enough US beans, corn slightly lower.
A quiet night with a few exceptions. US weekly ag export sales out this AM were fairly normal and routine but not low.
Big deliveries in soymeal, Brazilian Real crashes to new lows vs USD, month end today.
Chicago wheat Z-H strengthens overnight, spring wheat continues firm after the Trump tariff 25% Canadian import news yesterday. First intentions day on Dec ag futures on the close today.
Morning Commentary 11.26.24
Lower overnights on no weather threats globally. COT from Friday had some interesting data.
Matif continues to rally, US hard wheats second consecutive session to the upside out of their prior downtrend channel, Chicago wheat now testing downtrend channel resistance.
Slightly lower overnight US ags flat price, but firming front US hard wheat calendar spreads and intermarkets to Chicago soft wheat.
KC wheat already at a test of the Oct-Nov downtrend channel highs this AM. Cal spread weakness suggests funds are now short March US wheats and are covering?
Firm US hard wheats and hard wheat calendar spreads, soft but not technically soft enough US beans, corn slightly lower.
A quiet night with a few exceptions. US weekly ag export sales out this AM were fairly normal and routine but not low.
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