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Morning Wire
More rally in world ags driven by US S plains, N plains, eastern corn belt weather problems AND Brazilian safrinha weather problems AND Chinese ag buying interest.
Overnight was about vegoils as Malaysian palmoil and canola and US beanoil all screamed higher. Malaysian export bans are now including refined palmoil.
Rallying US winter wheats overnight off poor crop conditions report, StatsCan this AM showed very high Canadian wheat plantings at the expense of canola plantings.
Traders trying to get a handle on how bad the China covid problem is, US HRW dryness and HRS wetness concerns remain.
Indo bans palmoil exports again, US soyoil rallies. Private exporters this AM reported 1.35 MMT of US corn to China, 281,000 MT of US corn to Mexico, and 144,000 MT of US soybeans to Mexico.
A quiet night with late softness off poor weekly US export sales
Another coiling, quiet night for US ag futures. USDX key reverses lower, US bonds and notes key reverse higher overnight.
A quiet night overnight in both ags and macros.
New contract highs for corn, almost contract highs for spring wheat overnight. Ags back in bull mode off perceived poor N American weather forecasts.
More rally in world ags driven by US S plains, N plains, eastern corn belt weather problems AND Brazilian safrinha weather problems AND Chinese ag buying interest.
Overnight was about vegoils as Malaysian palmoil and canola and US beanoil all screamed higher. Malaysian export bans are now including refined palmoil.
Rallying US winter wheats overnight off poor crop conditions report, StatsCan this AM showed very high Canadian wheat plantings at the expense of canola plantings.
Traders trying to get a handle on how bad the China covid problem is, US HRW dryness and HRS wetness concerns remain.
Indo bans palmoil exports again, US soyoil rallies. Private exporters this AM reported 1.35 MMT of US corn to China, 281,000 MT of US corn to Mexico, and 144,000 MT of US soybeans to Mexico.
A quiet night with late softness off poor weekly US export sales
Another coiling, quiet night for US ag futures. USDX key reverses lower, US bonds and notes key reverse higher overnight.
A quiet night overnight in both ags and macros.
New contract highs for corn, almost contract highs for spring wheat overnight. Ags back in bull mode off perceived poor N American weather forecasts.
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