Category: Uncategorized
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Ag Markets Get the Green Light
It was green across the screen in Ag markets today, with grain and livestock markets uniformly higher. Corn September corn futures settled 9 ¼ cents higher to 400 ¼. August options (trade off September futures) expiration is on Friday, so it’ll be interesting if that psychologically significant $4.00 level becomes the magnet this week. The…
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Weekly Export Inspections
Weekly Export Inspections Snapshot Corn: 970,539 metric tons (38,208,421 bushels). This was within the range of estimates. Soybeans: 327,061 metric tons (12,017,431 bushels). This was within the range of estimates. Wheat: 237,965 metric tons (8,743,714 bushels). This was below the low end of estimates.
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Better Export Data Helps Soybeans Stabilize
Subscribe to Blue Line Ag Hedge today! Weekly export sales for soybeans were reported at 360,100 MT (13,231,406 bushels) for 2023/2024 were up 73 percent from the previous week and 13 percent from the prior 4-week average. This was within the range of expectations. Net sales of 375,000 MT (13,778,887 bushels) for 2024/2025. This was…
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6-10 Day Temperature and Precipitation Outlook Update
Below is an updated look at the 6-10 day weather outlook for the U.S. Much of the Grainbelt looks to be setup for near normal temperatures with chances for above normal precipitation.
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Weekly Export Sales Snapshot
Corn: Net sales of 437,800 MT (17,235,419 bushels) for 2023/2024 were down 19 percent from the previous week and 10 percent from the prior 4-week average. This was below the low end of expectations. Net sales of 485,700 MT (19,121,159 bushels) for 2024/2025. This was above the top end of expectations. Soybeans: Net sales of…
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December Corn Seasonal Snapshot
December corn futures were under heavy pressure through the month of June and the first week of July, but over the last 10-days, the market has been consolidating in a sideways trade as it attempts to carve out a near term low. To illustrate this, we zoom in to a one-hour chart of December corn…
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Weather in Focus
Though it certainly doesn’t feel like it this week, we are inching our way closer to springtime, where weather in the U.S. will become more of a focal point for the grain markets. Here we look at current conditions, a 2-week outlook, and the National Weather Service’s 3-month outlook. Get a 2-week trial of our…
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The Short Squeeze Is On
Grain markets had an impressive finish to yesterday’s trade which has carried over into today’s trade. Are Funds feeling the squeeze and exiting shorts? Get a FREE 2-week Trial of our daily commentary! Sign Up for Free Futures Market Research! Watch us on RFD-TV, today at 12:45pm CT! Corn Technicals (May) May corn futures have…
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Grains are Mixed to Start the Week
Corn and wheat futures are holding their own and trading in positive territory this morning while soybeans have slipped back into the red. Corn Technicals (May) May corn futures were able to defend 4-star support in Friday’s trade which may have helped aid relief back towards our pivot pocket from 441 3/4-444 1/2. If the…
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Will the Short Covering Rally Continue?
Friday’s Commitment of Traders report showed that Funds were net buyers of roughly 40.8k futures/options contracts, 37.5k of that being short covering. That trims their net short position to 255,928 contracts. For those wondering where prices are when Funds were that short on the way down, May corn was at 453 3/4 and Dec was…