Old Crop/New Crop Examined

The industry appears to be collectively holding their breath for what may come next.  Futures traders appear nervous, even with the positive basis.

Wheat futures are facing midday weakness on Wednesday. Chicago SRW futures are down fractionally in the nearbys. There were 209 deliveries against May CBT wheat overnight, with 196 coming from a Marex customer. Kansas City HRW futures are down 7 to 8 cents are midday. Minneapolis spring wheat futures are...

Corn futures are fading off the early Wednesday strength, with contracts down 3 to 4 cents in the nearbys and new crop December up a penny. There were 13 new delivery notices against May corn futures overnight. The nearby CmdtyView national average Cash Corn price is down 3 1/2 cents...

The soybean market is showing firm to 4 cent higher trade so far on Wednesday’s midday. Cash Bean price is steady $9.89 3/4. Soymeal futures were steady to down $2.60/ton, with Soy Oil futures down another 3 to 39 points. There were 2 deliveries for May soybeans overnight, with none...

Grain markets were under pressure to start the week but were able to hold technical support levels yesterday and are firm this morning on the back of positive trade headlines. Where are the upside targets if the momentum holds?

Wheat is extending the Tuesday bounce into Wednesday morning, with gains across the three markets. The wheat complex held onto gains the closing bell on Tuesday. Chicago SRW futures posted 4 to 5 cent gains across the nearbys at the close. Tuesday’s preliminary interest rose 3,894 contracts. There were 209...

The soybean market s taking back some recent weakness on Wednesday morning, with contracts up 11 to 13 cents. Soybeans saw some slight losses on Tuesday, with contracts down 3 to 4 cents in the front months. Preliminary open interest was up 9,128 contracts on Tuesday. CmdtyView’s national front month...

Corn futures are trading with contracts 4 to 7 cents in the green so far to start the midweek session. The corn market closed Tuesday mixed, with nearby contracts 1 to 2 cents higher and new crop down 1 to 2 cents. Preliminary open interest showed a rotation of ownership,...

Soybeans saw some slight losses on Tuesday, with contracts down 3 to 4 cents in the front months. CmdtyView’s national front month Cash Bean price was down 4 cents at $9.89 3/4. Soymeal futures were steady to down $2.60/ton, with Soy Oil futures down another 3 to 39 points. Soybean...

The wheat complex held onto gains the closing bell on Tuesday. Chicago SRW futures posted 4 to 5 cent gains across the nearbys at the close. Kansas City HRW futures closed with contracts up 4 to 6 cents across most contracts on Tuesday. Minneapolis spring wheat futures were firm, up...

The corn market closed with nearby contracts 1 to 2 cents higher on Tuesday, with new crop down 1 to 2 cents at the close. The nearby CmdtyView national average Cash Corn price was up 1 ¾ cents at $4.25 1/4. Crop Progress data from Monday afternoon showed some eastern...