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Morning Wire
Overnights finish green in all US ags, technically meaningless in all but CZ so far. Reasons cited are oversold conditions and a weaker USD.
Higher US row crops early overnight softened, higher US wheats overnight fell apart to -5 in KC and -1 in Chicago by the overnight close. Egypt tendered for wheat, low FOB offer was Russian.
Hard lower into the downside abyss technically for US wheats and beans overnight, corn also wipes out Friday gains but is still hanging by a thread above recent lows.
Crop report today, overnight ags lower but not into new lows as we await the 11AM CT numbers.
US ags bounce overnight, corn spread CU-CZ continues to scream, US inflation data shows potential for Fed rate cuts and USDX drops, but US weekly ag export sales were massively disappointing.
More lower overnights for US corn and wheats and world ag futures now starting to break in China and Malaysia also. Beans recovered from lows overnight and this AM we got a 132,000 MT US bean sale to China announcement.
Lower overnight US ags on rains for the US eastern corn belt. Russian/Ukranian sunflower and corn areas to endure extreme heat the next two weeks.
Huge weekly US ag export sales in wheat this AM follows disturbingly low French wheat yields uncovered during the US holiday break.
Mixed overnight futures on moderate volume. Wheats slightly lower, corn slightly lower, beans slightly higher. We await the US holiday that begins on the close today and the Friday AM weather forecast ahead of the reopening.
Overnights finish green in all US ags, technically meaningless in all but CZ so far. Reasons cited are oversold conditions and a weaker USD.
Higher US row crops early overnight softened, higher US wheats overnight fell apart to -5 in KC and -1 in Chicago by the overnight close. Egypt tendered for wheat, low FOB offer was Russian.
Hard lower into the downside abyss technically for US wheats and beans overnight, corn also wipes out Friday gains but is still hanging by a thread above recent lows.
Crop report today, overnight ags lower but not into new lows as we await the 11AM CT numbers.
US ags bounce overnight, corn spread CU-CZ continues to scream, US inflation data shows potential for Fed rate cuts and USDX drops, but US weekly ag export sales were massively disappointing.
More lower overnights for US corn and wheats and world ag futures now starting to break in China and Malaysia also. Beans recovered from lows overnight and this AM we got a 132,000 MT US bean sale to China announcement.
Lower overnight US ags on rains for the US eastern corn belt. Russian/Ukranian sunflower and corn areas to endure extreme heat the next two weeks.
Huge weekly US ag export sales in wheat this AM follows disturbingly low French wheat yields uncovered during the US holiday break.
Mixed overnight futures on moderate volume. Wheats slightly lower, corn slightly lower, beans slightly higher. We await the US holiday that begins on the close today and the Friday AM weather forecast ahead of the reopening.
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