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Morning Wire
A quiet night awaiting todays USDA crop reports, no news yet from the overnight Russian ag ministry/exporter meeting
US hard wheats and Matif wheat overnight testing upside horizontal line resistance again, Chicago still slightly below, on news Russia will be having a wheat meeting tomorrow night.
Russian FOB offers rose recently, Matif and US wheat continued their climb overnight and are already near resistance areas, US row crops slightly higher only and still in daily chart downtrends.
Lower overnight US ags most meaningful technically in soybeans and corn with wheats still choppy.
A choppy mess of an overnight for ags. Rains forecast for Brazil late this week and next week confirmed this AM which should allow Brazilian bean plantings to accelerate from their currently behind avg pace.
The overbought, lower price trend which started yesterday continues in world ags except Malaysian palmoil and US beans and Canola.
Lower overnights but not technically significant. Slightly bearish rain forecasts for S America compared to past weeks, but little rain forecast still for Black Sea wheat areas.
US wheats and corn run higher overnight, beans all over the place but finish lower, Middle eastern conflict rhetoric if anything is worse, macros fairly quiet other than crude higher.
Overnight wheat was all over the place while beans were lower on forecasts for better S American rains next week by some but not all forecasters and models
A quiet night awaiting todays USDA crop reports, no news yet from the overnight Russian ag ministry/exporter meeting
US hard wheats and Matif wheat overnight testing upside horizontal line resistance again, Chicago still slightly below, on news Russia will be having a wheat meeting tomorrow night.
Russian FOB offers rose recently, Matif and US wheat continued their climb overnight and are already near resistance areas, US row crops slightly higher only and still in daily chart downtrends.
Lower overnight US ags most meaningful technically in soybeans and corn with wheats still choppy.
A choppy mess of an overnight for ags. Rains forecast for Brazil late this week and next week confirmed this AM which should allow Brazilian bean plantings to accelerate from their currently behind avg pace.
The overbought, lower price trend which started yesterday continues in world ags except Malaysian palmoil and US beans and Canola.
Lower overnights but not technically significant. Slightly bearish rain forecasts for S America compared to past weeks, but little rain forecast still for Black Sea wheat areas.
US wheats and corn run higher overnight, beans all over the place but finish lower, Middle eastern conflict rhetoric if anything is worse, macros fairly quiet other than crude higher.
Overnight wheat was all over the place while beans were lower on forecasts for better S American rains next week by some but not all forecasters and models
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