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Morning Wire
StatsCan bearish this AM for spring wheat, Russia/Ukraine situation remains cloudy, first intentions for May ag futures on tomorrows close.
Soybeans lower overnight on plantings ahead of expectations, otherwise a quiet night.
Corn is pressured overnight, otherwise a quiet night with mixed trade in ags. Welcome to the weather market of 2023.
May options expire today, COT this afternoon may be interesting, we await the rain event for the S Plains early next week and further hints at May US weather.
Longs trying to close find few buyers overnight as rains continue to be forecast in the US 7 day in S plains and crude continues to break.
Russia allows Black Sea ship inspections again, some rain for SC KS in the 7 day forecast, overnights lower in ags.
Romania now also considering blocking Ukranian grain throughput. Ag futures rise overnight but soften late in the session.
Early overnight losses in US ag futures erased overnight in all but KC wheat as Black Sea tensions escalate. US weekly crop progress/conditions after the close today will be closely monitored.
A nothing night for US ags as we await Friday COT and Monday crop progress, macros heating up in currencies and metals however.
StatsCan bearish this AM for spring wheat, Russia/Ukraine situation remains cloudy, first intentions for May ag futures on tomorrows close.
Soybeans lower overnight on plantings ahead of expectations, otherwise a quiet night.
Corn is pressured overnight, otherwise a quiet night with mixed trade in ags. Welcome to the weather market of 2023.
May options expire today, COT this afternoon may be interesting, we await the rain event for the S Plains early next week and further hints at May US weather.
Longs trying to close find few buyers overnight as rains continue to be forecast in the US 7 day in S plains and crude continues to break.
Russia allows Black Sea ship inspections again, some rain for SC KS in the 7 day forecast, overnights lower in ags.
Romania now also considering blocking Ukranian grain throughput. Ag futures rise overnight but soften late in the session.
Early overnight losses in US ag futures erased overnight in all but KC wheat as Black Sea tensions escalate. US weekly crop progress/conditions after the close today will be closely monitored.
A nothing night for US ags as we await Friday COT and Monday crop progress, macros heating up in currencies and metals however.
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