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Morning Wirehigher again in the end overnight for ags. Beanoil rallying, KC wheat into new monthly chart recent highs, Chicago wheat challenging. Lots of US bean sales reported this AM.
Lower then higher then back to slightly lower for US ags overnight. Macros pretty quiet. Black Sea attacks continue and shipping is basically halted from Azov and Ukraine. Trump adds 25% tariffs to Brazil but has a long long list of excluded items.
World wheat futures screaming higher on Azov/Black Sea shipping woes and escalation of that war. Beans a non-player, no new China sales reported this AM from the US. Corn has CZ testing the all-important 50 day again this AM.
A messy finish to US ags overnight. Competing and changing US forecasts but a lower than expected CPI. Crude rallied, broke to unch, and rerallied now this AM.
US wheat rally overnight fades but new crop CZ corn still testing the 50 day ma line as it stayed a nickel higher overnight. Azov problems continue, US-Iran worsening, but deferred US forecasts not as hot.
A big US wheat and Matif wheat rally this AM. US crop reports today during the session.
Row crops retreating from recent highs as 8-14 day trends cooler
US/Iran Ceasefire is over and extreme temps coming for corn belt after the weekend
Morning Commentary 7.7.26
higher again in the end overnight for ags. Beanoil rallying, KC wheat into new monthly chart recent highs, Chicago wheat challenging. Lots of US bean sales reported this AM.
Lower then higher then back to slightly lower for US ags overnight. Macros pretty quiet. Black Sea attacks continue and shipping is basically halted from Azov and Ukraine. Trump adds 25% tariffs to Brazil but has a long long list of excluded items.
World wheat futures screaming higher on Azov/Black Sea shipping woes and escalation of that war. Beans a non-player, no new China sales reported this AM from the US. Corn has CZ testing the all-important 50 day again this AM.
A messy finish to US ags overnight. Competing and changing US forecasts but a lower than expected CPI. Crude rallied, broke to unch, and rerallied now this AM.
US wheat rally overnight fades but new crop CZ corn still testing the 50 day ma line as it stayed a nickel higher overnight. Azov problems continue, US-Iran worsening, but deferred US forecasts not as hot.
A big US wheat and Matif wheat rally this AM. US crop reports today during the session.
Row crops retreating from recent highs as 8-14 day trends cooler
US/Iran Ceasefire is over and extreme temps coming for corn belt after the weekend
Morning Commentary 7.7.26
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