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Morning Wire
US row crop and spring wheat futures rally overnight on slightly bullish US weather forecasts along with last Fridays COT report.
Quiet ag and macro overnights on little news as we await this AM’s US weekly ag export sales report at 730AM CT
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.
US row crop and spring wheat futures rally overnight on slightly bullish US weather forecasts along with last Fridays COT report.
Quiet ag and macro overnights on little news as we await this AM’s US weekly ag export sales report at 730AM CT
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.
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