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Morning Wire
Another wheat-led bounce overnight, somewhat threatening 6-10 and 8-14 day forecasts for the US GFS model
CBOT Joins Global Ags in a Higher Overnight Trade; Wheat Attempting to Form a Seasonal Bottom
Turnaround “Tuesday” Led by Wheat, Ags Recover Ever so Slightly After the Recent Pounding
USD Breakout to Add Pressure on Ags
A quiet night. Some pointing to dry EU model deferred forecast, other forecasters saying warm and wet through 10 days.
Crop report day. A major mover for spring wheat and row crops historically. Also quarter end MOC
US beans continue bouncing ovenight, the rest of ags were technically unimportant moves. July deliveries this afternoon then crop report and quarter end tomorrow.
Chicago wheat runs 20+cents higher, corn a dime higher, and beans got 15+ cent gains. Egypt tendered. Major US acreage report remains Thursday.
Quiet overnights in US ags, world ags, macros. The focus is clearly on this afternoon US crop updates and Thursdays crop reports.
Another wheat-led bounce overnight, somewhat threatening 6-10 and 8-14 day forecasts for the US GFS model
CBOT Joins Global Ags in a Higher Overnight Trade; Wheat Attempting to Form a Seasonal Bottom
Turnaround “Tuesday” Led by Wheat, Ags Recover Ever so Slightly After the Recent Pounding
USD Breakout to Add Pressure on Ags
A quiet night. Some pointing to dry EU model deferred forecast, other forecasters saying warm and wet through 10 days.
Crop report day. A major mover for spring wheat and row crops historically. Also quarter end MOC
US beans continue bouncing ovenight, the rest of ags were technically unimportant moves. July deliveries this afternoon then crop report and quarter end tomorrow.
Chicago wheat runs 20+cents higher, corn a dime higher, and beans got 15+ cent gains. Egypt tendered. Major US acreage report remains Thursday.
Quiet overnights in US ags, world ags, macros. The focus is clearly on this afternoon US crop updates and Thursdays crop reports.
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