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Morning Wire
A quiet night session with corn backing slightly off from 451-452 resistance area in CH5 so far.
Corn slightly higher overnight now right up against 200 day ma/old Sep highs resistance. Wheats sloppy but higher. Soybeans lower but hold 9-20 day ma support on the overnight close.
US crop reports today during the session
US wheats out of their downtrend channels overnight to the upside, beans and corn testing daily chart resistance areas. US crop report tomorrow.
US wheats breaking out above 2+ month downtrend channel resistance? US unemployment report was out and US crop reports next Tuesday.
Morning Commentary 12.5.24
Dalian corn lower, Brazilian fob bean offers lower, feels like we are going lower on good S American weather and crop prospects.
Turnaround Tuesday.
New daily chart contract lows for KC wheat overnight despite new Russian wheat export limits.
A quiet night session with corn backing slightly off from 451-452 resistance area in CH5 so far.
Corn slightly higher overnight now right up against 200 day ma/old Sep highs resistance. Wheats sloppy but higher. Soybeans lower but hold 9-20 day ma support on the overnight close.
US crop reports today during the session
US wheats out of their downtrend channels overnight to the upside, beans and corn testing daily chart resistance areas. US crop report tomorrow.
US wheats breaking out above 2+ month downtrend channel resistance? US unemployment report was out and US crop reports next Tuesday.
Morning Commentary 12.5.24
Dalian corn lower, Brazilian fob bean offers lower, feels like we are going lower on good S American weather and crop prospects.
Turnaround Tuesday.
New daily chart contract lows for KC wheat overnight despite new Russian wheat export limits.
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