Morning Comment – #Wheat #Corn #Soybeans – 01/06/2015

May is finally over. May has been extremely choppy for food stuff. Rice, Coffee and Sugar where sharply down while Cocoa was up sharply, wheat was volatile but finally stable (small up actually) while corn and Soy beans and meal Soybean went down significantly but soy oil went up.  As far as ags are concerned, … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 01/06/2015

Evening Comment – #Wheat #Corn #Soybeans – 28/05/2015

Wheat is trading sideways… Market is having a lack of oomph and conviction today: down on ample supply prospects or up on short covering and weather fears? Struggling to make its mind up while corn is steady. Ethanol production is up 11,000 barrels per day to 969,000 barrels per day.  Soybeans are down on improvement … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 28/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 27/05/2015

Funds continued to sell. 11,000 lots for wheat and 8,000 lots for corn… Wheat is getting closer again to the 100,000 mark while corn, option included, is getting closer to 200,000 lots! That is a level of short never seen pre-harvest.  Indeed, the crop progress and conditions was seen as bearish. Spring Wheat and Corn … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 27/05/2015

Evening Comment – #Wheat #Corn #Soybeans – 21/05/2015

In the principle, it’s a copy and paste of yesterday. Kansas wheat on fire, Chicago following slightly behind. Corn has not a lot of choice but to follow while soybeans are doing the ‘down’ quota for the day. Soybeans / Corn ratio took a serious hit from 2.75 to 2.58 in a few days, similarly … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 21/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 21/05/2015

Funds kept selling corn (7,000 lots to reach a short of 140,000 lots), soybeans (5,000 contacts, they are now short 55,000 lots) but bought 5,000 lots of wheat, reducing their short to 94,000 contracts. Indeed, wheat has been pushed up on the same usual now weather concerns. Too wet, flooding, bugs, scab, sprout, lay over,… … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 21/05/2015

Evening Comment – #Wheat #Corn #Soybeans – 20/05/2015

Difficult to keep up with all that noise about this noise about the weather. This afternoon, market was still talking about overnight freezes but also about damages of wheat in Texas due to wind (wheat basically flattened to the ground), then flooding in Texas, Kansas Oklahoma,… Kansas HRW wheat traded up close to two digits … Continue reading Evening Comment – #Wheat #Corn #Soybeans – 20/05/2015

Morning Comment – #Wheat #Corn #Soybeans – 20/05/2015

Nothing really new overnight. The main event of the day will be Algeria tender. Lower Euro and bearish sentiment should see some cheap French wheat as Black Sea is not accepted. No official line-Up published though. In Chicago, funds were back on shorting the market, wheat -7,000 lots, Corn -7,000 lots and Soybeans -6,000 lots. … Continue reading Morning Comment – #Wheat #Corn #Soybeans – 20/05/2015

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