Evening Comment – #Wheat #Corn #Soybeans – 19/05/2015

The freezing was not that bad after all… Boom, two digits down. This is really some kind of weather market. Rain amount is still an issue, localized flooding with hotter temperatures. Wheat rating has to deteriorate to prove the veracity of these talks. So far, it has not. The quantity is not at risk though, … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 19/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 19/05/2015

This is pure weather market. However, it should be summer related at this stage. But market is talking about too much rain, increasing the risk of fusarium or worms, or overnight freezing in Canada prairies and in the US plains: ‘winter’ kills fears, slower pace of planting, reseeding,… This is unusual for a month of … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 19/05/2015

Evening Comment – #Wheat #Corn #Soybeans – 18/05/2015

Another day of short covering on wheat, leading the pack in the green. Corn is brought up but in a slower pace, the Wheat Corn Spread has drastically increased since a few days and has broken all the short term resistances. Surprising as now corn is shorter than wheat. The short covering in wheat is … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 18/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 18/05/2015

Friday did not trigger new short covering, the rebound fed selling interest, those we were squeezed in  the bear market where happy to sell wheat above 510. Now the short of corn, including options is probably more worrying than the short in wheat. Corn as resisted very well but how long until it narrows its … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 18/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 15/05/2015

The main event was the wheat rebounding, it was clearly on fire! It is still unclear if the reasons found to justify this were actual trigger or are a post-justification. Indeed, there is no fundamental brand new news that clearly justify this so far. Indeed, the quality concerns are known since the WQC crop tour, … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 15/05/2015

Evening Comment – #Wheat #Corn #Soybeans – 14/05/2015

Export sales were actually weak. 257kT on wheat, in the low of the expectation range, Corn (373kT) and Beans (225kT) much less than expected (respectively 600/950 and 350/750). Only beans have reacted accordingly printing red numbers. But Wheat was on fire and brought Corn slightly up in a lower extent. Lower USD seems to be … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 14/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 14/05/2015

Corn and Wheat reverted at the close and finished in the green. Market is really uncertain about what to do next, what trend to follow. On one side, the USDA expected supply can still come better in the next few months (market feel the new crop from Russia and Ukraine has been seen conservatively by … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 14/05/2015

Evening Comment – #Wheat #Corn #Soybeans – 13/05/2015

Wheat down, corn and soybeans up.   But before… Close to 1.14… EURUSD is in a very good shape! Well to be honest this time it is US dollar weakening facing all currencies: GBP, CAD, AUD,… US Retails Sales were flat month on month and FX market has been disappointed. Versus Euro, the question is … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 13/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 13/05/2015

Nothing more to say about the slight disappointment and the lack of thrill of the USDA report. Ok, supply will increase but we kind of knew it already. Let’s now focus on the 2 next month, it’s where really the crops are going to suffer from het or confirm they’re indeed on a very good … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 13/05/2015

Evening Comment – #Wheat #Corn #Soybeans – 12/05/2015

Main event of the day is of course the WASDE.   The May report is really tricky. Old crop is more or less done, minor adjustments, while the first estimates of the new crop is not easy: anything can happen this summer! So USDA has not taken any risk and the report is in line … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 12/05/2015