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Morning Wire
Beanoil lower and meal higher on new 2023-2025 EPA mandates, quiet in the rest of US ags, USDX moving lower.
SF3 trying the upside overnight, more beans reported sold to China this AM, big deliveries of US HRS and SRW wheat but none in HRW.
A quiet ag and macro night session except for a crude bounce
Some Covid fears drop crude prices, US row crops and world ags quiet, major relationship moves in wheats with hards vs softs becoming very interesting
Ukranian power woes after fresh Russian missile strikes target power grids, Dalian corn in rally mode
Spring wheat overnight became the third Z/H wheat cal spread to recently go screaming higher behind KC and Matif
Matif Z/H cal spread is on fire, the rest of ags and macros were quiet overnight except crude possibly double bottomed
Chicago wheat makes new one month lows overnight, Chinese covid deaths reported (first in 6 months), otherwise quiet
Matif wheat on a rally, US corn testing resistance, crude oil falling apart, all else quiet
Beanoil lower and meal higher on new 2023-2025 EPA mandates, quiet in the rest of US ags, USDX moving lower.
SF3 trying the upside overnight, more beans reported sold to China this AM, big deliveries of US HRS and SRW wheat but none in HRW.
A quiet ag and macro night session except for a crude bounce
Some Covid fears drop crude prices, US row crops and world ags quiet, major relationship moves in wheats with hards vs softs becoming very interesting
Ukranian power woes after fresh Russian missile strikes target power grids, Dalian corn in rally mode
Spring wheat overnight became the third Z/H wheat cal spread to recently go screaming higher behind KC and Matif
Matif Z/H cal spread is on fire, the rest of ags and macros were quiet overnight except crude possibly double bottomed
Chicago wheat makes new one month lows overnight, Chinese covid deaths reported (first in 6 months), otherwise quiet
Matif wheat on a rally, US corn testing resistance, crude oil falling apart, all else quiet
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