Corn finished the day one cent higher while beans finished up 3 cents. After an overnight rally of 10 to 14 cents in both markets to 4.36 and 894.4 in corn and beans respectively, the market couldn’t extend and for the second consecutive session we fell back to near unchanged. the overnight rally came on two fronts in my view. …

                                For your consideration!                                 Wheat likes dry feet!                                  And we’re not receiving what the plant needs as we are harvesting or experiencing harvest delays and that’s hot and dry weather conditions.  Hard red wheat is priced to compete with corn in the interior. Look at the discount schedules and bad wheat tends to be forced into the feed …

                                Numbers of 69 to 75% of the corn crop planted in tonight’s report have been heard and this compares with  the normal of 95%. So, 92.8 million acres projected as of March 1 might fall very, very short when the USDA issues it’s fresh figures on June 28 and then that figure will be questioned given the planting delays. …

                                Typically, hot and dry makes the grain markets rally in June and July but this year cool and wet could keep, us from breaking. Weather needs to be perfect from now until harvest to assure decent yields in corn and beans. Wheat harvesting is in full swing over the next 6 weeks in hard and soft red areas and …

   The July Lean Hogs contract consolidated within Wednesday’s trading range. The bullish engulfing candle is still in play and a break out above resistance at 88.325 could see price test resistance at 90.45. A failure from settlement (87.875) could see price consolidate within the Thursday range. The Lean Hog Index declined and is at 82.56 as of May 28th …

For seemingly months Chicago wheat, the soft red winter wheat contract has held a steady premium vs KC wheat, the hard red contract. Rallies or an unwinding of this spread have only met with further selling as Chicago at one point held over a 50 cent premium to KC in early May. Its not uncommon for Chicago to hold a …

   The July Lean Hogs contract opened below yesterday’s settlement and traded down to the session low at 84.475. It couldn’t take out yesterday’s low (84.325) and reversed course and traded higher for the remainder of the session. It rallied to the session high at 88.325 which is resistance and settled at 87.80. It formed a bullish engulfing candle and …

For the last week or so massive short covering in the grain complex has been in full effect led by extreme short positions held by managed money funds. The COT data showed these funds record short in the amount of 735.900 contracts short as of 5/14/19. The combined short encompassed all three wheat contracts, the soy complex and corn. Last …

                                It’s not for the faint of heart! Talk of South American grain and beans priced to move into the USA, Southern producers talking about switching from cotton to corn and winter wheat getting a little tough which makes it more likely to work into the feeding channels gave the market a cause for pause today. Strap in because it’s …