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Morning Wire
A quiet overnight turned into a potential row crop “corn is now 50% harvested bottom day”? This AM private exporters reported the sale of over 2 MMT of US corn to Mexico (1.6 for 24/25 and 0.5 for 25/26) along with another 332,000 MT of US corn to unknown.
Lower overnights, bearish CONAB Brazilian crop update, but then an announced 120,000 MT US SRW sale to Mexico this AM.
Quietly lower ags overnight. Blowing off the reported new Russian 250 wheat floor in favor of bearishness off more favorable world ag rainfall expectations?
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.
A quiet overnight turned into a potential row crop “corn is now 50% harvested bottom day”? This AM private exporters reported the sale of over 2 MMT of US corn to Mexico (1.6 for 24/25 and 0.5 for 25/26) along with another 332,000 MT of US corn to unknown.
Lower overnights, bearish CONAB Brazilian crop update, but then an announced 120,000 MT US SRW sale to Mexico this AM.
Quietly lower ags overnight. Blowing off the reported new Russian 250 wheat floor in favor of bearishness off more favorable world ag rainfall expectations?
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.
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