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Russia/Ukraine tension reduction, S American/US S plains weather fears slightly lower, risk off lower overnights as a result.
Overnight early gains turned into losses in ag futures. Ukraine/Russia war/no war, S American rain/no rain, US S plains rain/no rain all factors. Nothing technically happened although US soybean futures are awful close to looking not so good.
An early wire today for us, not much news so we ran some old charts of soybean rally years for you to peruse
Conab drops their Brazil soybean estimate from 139 MMT to 125. USDA yesterday was at 134. Time for price rationing.
US crop reports today, Conab tomorrow, Malaysian palmoil a bunch higher on more export control measures.
StatsCan this AM finds very low Canadian wheat stocks, spring wheat rallies to unch as a result. Other ags were lower waiting on US crop reports tomorrow.
Higher oilseeds markets due to poor S American forecasts, wheat and corn follow, US crop reports upcoming this week
The small ag bounce overnight mostly fell apart in the last hour. KC wheat stayed a little higher but the rest of US ags were nearly unch. Crude oil is still screaming higher. S American forecasts remain dry beyond the next few days.
Everything lower for a change. Soybeans inside night, corn looking fairly stinky, wheats still above Jan lows. US weekly export sales excellent for soybeans and stinkaroo for wheats.
Russia/Ukraine tension reduction, S American/US S plains weather fears slightly lower, risk off lower overnights as a result.
Overnight early gains turned into losses in ag futures. Ukraine/Russia war/no war, S American rain/no rain, US S plains rain/no rain all factors. Nothing technically happened although US soybean futures are awful close to looking not so good.
An early wire today for us, not much news so we ran some old charts of soybean rally years for you to peruse
Conab drops their Brazil soybean estimate from 139 MMT to 125. USDA yesterday was at 134. Time for price rationing.
US crop reports today, Conab tomorrow, Malaysian palmoil a bunch higher on more export control measures.
StatsCan this AM finds very low Canadian wheat stocks, spring wheat rallies to unch as a result. Other ags were lower waiting on US crop reports tomorrow.
Higher oilseeds markets due to poor S American forecasts, wheat and corn follow, US crop reports upcoming this week
The small ag bounce overnight mostly fell apart in the last hour. KC wheat stayed a little higher but the rest of US ags were nearly unch. Crude oil is still screaming higher. S American forecasts remain dry beyond the next few days.
Everything lower for a change. Soybeans inside night, corn looking fairly stinky, wheats still above Jan lows. US weekly export sales excellent for soybeans and stinkaroo for wheats.
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