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Morning Wire
US ag markets consolidating on a breather week, correcting in time awaiting more weather forecasts that take us to the July 4 weekend to see whether it will remain hot and dry or not.
Another quiet night in ags, we continue to argue this week is a sideways chop waiting to see if next weeks 10 day US weather forecasts will remain hot and dry or not.
Beans lower, other ags choppy and slightly higher, US stock markets cratering further and US interest rates rallying. We await this afternoons US crop progress/conditions reports.
Crop report day
Technically soft WN2 and canola price action overnight, otherwise nothing happened on a light volume night session globally.
More corn and soybean strength off either US weather or Ukraine corn export potential dimming, or the very strong US domestic row crop basis levels.
A quiet night with corn oddly higher despite the excellent first US crop ratings report yesterday.
Fund ag futures selloff appears concluded due to a small host of questionable items and the worsening of the Russia/Ukraine war. Expect extreme volatility in ags through the summer months.
A quiet overnight. Mondays US crop progress/conditions will include corn and spring wheat conditions.
US ag markets consolidating on a breather week, correcting in time awaiting more weather forecasts that take us to the July 4 weekend to see whether it will remain hot and dry or not.
Another quiet night in ags, we continue to argue this week is a sideways chop waiting to see if next weeks 10 day US weather forecasts will remain hot and dry or not.
Beans lower, other ags choppy and slightly higher, US stock markets cratering further and US interest rates rallying. We await this afternoons US crop progress/conditions reports.
Crop report day
Technically soft WN2 and canola price action overnight, otherwise nothing happened on a light volume night session globally.
More corn and soybean strength off either US weather or Ukraine corn export potential dimming, or the very strong US domestic row crop basis levels.
A quiet night with corn oddly higher despite the excellent first US crop ratings report yesterday.
Fund ag futures selloff appears concluded due to a small host of questionable items and the worsening of the Russia/Ukraine war. Expect extreme volatility in ags through the summer months.
A quiet overnight. Mondays US crop progress/conditions will include corn and spring wheat conditions.
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