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Morning Wire
Soy futures explode higher overnight on Truth Social Trump commentary hoping China “quadruples US soybean purchases” but tempers gains to below first technical resistance area in SX by the overnight close.
Slightly lower beans overnight, mixed in grains. US AM forecasts seem to be putting more rain into eastern corn belt compared to yesterday but still warm 10 day forecasts and little rain for the drying out mid-south states.
Huge weekly US ag export sales report with all major ags above expectations. 3.1 MMT of new crop US corn sales.
Little news, US forecasts warmish but normal precip for all but 10 of US row crops, crop report not until next week, new contract lows for US winter wheats and corn overnight.
More new contract lows for winter wheats and corn overnight on the heels of massive StoneX US row crop yield estimates yesterday afternoon.
Very little news over the weekend. Choppy and ending steady overnight for SX, slightly lower almost challenging contract lows for CZ, wheats round tripped to slightly higher in winter wheats after making fresh contract lows overnight.
Tariffs on countries that did not make a deal set to go into effect, US unemployment had jobs not make avg guess, USDX lower, US interest rate futures higher (rates lower), S&P 1% lower, ags slightly lower.
US ags lower again in all but KC wheat despite favorable US export sales report this AM. Favorable US weather forecasts.
Lower to unch overnight. Not much news to report. US GDP +3.0 vs avg guess of +2.4.
Soy futures explode higher overnight on Truth Social Trump commentary hoping China “quadruples US soybean purchases” but tempers gains to below first technical resistance area in SX by the overnight close.
Slightly lower beans overnight, mixed in grains. US AM forecasts seem to be putting more rain into eastern corn belt compared to yesterday but still warm 10 day forecasts and little rain for the drying out mid-south states.
Huge weekly US ag export sales report with all major ags above expectations. 3.1 MMT of new crop US corn sales.
Little news, US forecasts warmish but normal precip for all but 10 of US row crops, crop report not until next week, new contract lows for US winter wheats and corn overnight.
More new contract lows for winter wheats and corn overnight on the heels of massive StoneX US row crop yield estimates yesterday afternoon.
Very little news over the weekend. Choppy and ending steady overnight for SX, slightly lower almost challenging contract lows for CZ, wheats round tripped to slightly higher in winter wheats after making fresh contract lows overnight.
Tariffs on countries that did not make a deal set to go into effect, US unemployment had jobs not make avg guess, USDX lower, US interest rate futures higher (rates lower), S&P 1% lower, ags slightly lower.
US ags lower again in all but KC wheat despite favorable US export sales report this AM. Favorable US weather forecasts.
Lower to unch overnight. Not much news to report. US GDP +3.0 vs avg guess of +2.4.
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