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Morning Wire
Soybeans get crushed in old crop overnight off lack of 8 MMT China buy confirmation and Trump suggesting a possible delay in the meeting with Xi. US wheats start lower with the soybean break but HRW claws its way back to positive territory by the overnight close on poor weather forecasts for the US S Plains.
A quiet-ish night in macros and US ag futures. Cant last long here.
US/Iran gulf war intensifies as Iran strikes some oil tankers near Iraq. Crude higher. US soy higher off thoughts of RVO/SRE supports and grains higher also.
War on risk. Crude slightly higher. US ags higher bouncing for no apparent reason. Soybeans led off thoughts that China will indeed take the 8 MMT of US beans soon.
War news is all over the place. crude slightly lower overnight. US ag futures start a lot lower but mainly recover by the overnight close.
Major moves overnight in crude and other macros and US ags give way to tempering of the moves overnight at the Middle East war continues to expand.
US ags continue to find new buying after technical resistance is taken out. Crude continues to run higher. US monthly unemployment report upcoming shortly.
Choppy US ag futures overnight, macros had crude rallying again and US 10 yr note futures dropping.
Rerally overnight in US ags off world energy fears and big moves in the macros
Soybeans get crushed in old crop overnight off lack of 8 MMT China buy confirmation and Trump suggesting a possible delay in the meeting with Xi. US wheats start lower with the soybean break but HRW claws its way back to positive territory by the overnight close on poor weather forecasts for the US S Plains.
A quiet-ish night in macros and US ag futures. Cant last long here.
US/Iran gulf war intensifies as Iran strikes some oil tankers near Iraq. Crude higher. US soy higher off thoughts of RVO/SRE supports and grains higher also.
War on risk. Crude slightly higher. US ags higher bouncing for no apparent reason. Soybeans led off thoughts that China will indeed take the 8 MMT of US beans soon.
War news is all over the place. crude slightly lower overnight. US ag futures start a lot lower but mainly recover by the overnight close.
Major moves overnight in crude and other macros and US ags give way to tempering of the moves overnight at the Middle East war continues to expand.
US ags continue to find new buying after technical resistance is taken out. Crude continues to run higher. US monthly unemployment report upcoming shortly.
Choppy US ag futures overnight, macros had crude rallying again and US 10 yr note futures dropping.
Rerally overnight in US ags off world energy fears and big moves in the macros
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