Latest News From Brian Grete

The most actively traded winter wheat contracts are up their new 85-cent daily trading limit, while May and July spring wheat futures are up their 60-cent limit. Corn and soy complex futures are also sharply higher.

Surging prices rekindle food vs. fuel debate

Winter wheat futures locked up their 75-cent daily trading limit overnight, while spring wheat rose its 60-cent limit. Corn traded sharply higher, while soybeans posted just slight gains.

May contracts for all three wheat markets topped $11 overnight, though HRS futures have since retreated below that level. Soybeans are firmer, while corn is mostly higher this morning.

SRW wheat basis firmed and HRW basis didn't drop too much given the surge in futures.

Winter wheat futures are sharply higher this morning in followthrough buying, though well off their overnight highs. Spring wheat is mixed, while corn and soybeans are lower.

Winter wheat futures surged above last week’s highs amid disruptions to Black Sea wheat exports. May corn futures traded near their highs, while soybeans and spring wheat remained well below last week’s peaks.

Grain and soy markets are posting solid gains to start the week. Cattle futures are under pressure as hog futures work on a rebound from last week’s weak technical performance.

Grain and soy markets posted strong gains overnight, led by wheat, amid increased anxiety with the Russia/Ukraine crisis.

The figures for Feb. 1 feedlot inventory and January placements and marketings were in line with pre-report expectations.

Wheat and corn futures retreated from yesterday’s strong gains, while soybeans saw followthrough selling overnight after a weak finish Thursday.

Corn and wheat futures are trading limit up in most contracts, while soybeans are sharply higher in reaction to Russia's invasion of Ukraine. Front-month U.S. crude oil futures are nearly $7 higher.

Corn, soybean and wheat basis held or firmed over the past week despite surging futures prices.

Individual state crop condition ratings showed further deterioration of the HRW wheat crop during February.

Soybean futures posted contract highs overnight, while the wheat and corn markets faced light profit-taking after Tuesday’s rallies.

USDA’s Cold Storage Report showed a smaller-than-normal build in frozen pork stocks during January, while beef stocks rose versus a normal small decline during the month.

Corn, wheat and soybean futures are firmer to start the week. Cattle futures are mildly weaker and hog futures are choppy.

Grain and energy markets had a big price response overnight to escalating tensions between Russia and Ukraine as U.S. markets reopened following the three-day weekend.

Old-crop soybeans poked above $16 overnight, but key is whether there’s sustained buying above that level – something that hasn’t happened the two previous times.

Cash soybean prices drop but remain historically strong at over $15.

The 90-day forecast continues to give elevated odds of above-normal temps across HRW areas. Below-normal precip also is likely over all but far eastern areas of the Central and Southern Plains.

Buyer interest built throughout the overnight session in the soybean and soymeal markets and futures are trading near session highs this morning.

Soybean basis slipped a little over the past week, as farmer selling likely picked up, but remains stronger than average.

Soybeans regained most of Tuesday’s losses overnight, while corn and wheat recouped only a fraction of their declines.

Conditions in southern Brazil are worse than expected and there may be additional yield losses due to drought.

Soybeans extended Monday’s declines overnight, while the winter wheat markets were pressured by an apparent easing of tensions between Russia and Ukraine. Corn followed the other two markets lower.

Grain and soybean futures are lower to start the week. Livestock futures are rebounding from last week’s losses.

Soybeans started firmer overnight but buyer interest dried up and selling pressure mounted, with futures near session lows this morning. Corn followed soybeans lower, while wheat mildly firmed.

Soybeans are higher this morning after there was limited followthrough selling from Thursday’s poor closes early in the overnight session. Corn and wheat are following soybeans higher.

Cash soybean prices continue to surge.

Soybean futures continued their strong rally, with most old-crop contracts surging above $16 overnight. Corn and wheat followed soybeans higher.

Corn and soybean basis slipped, but cash prices surged.

Projected 2021-22 ending stocks for corn, soybeans, wheat and cotton all came in higher than the average pre-report estimates.

Old-crop soybean futures recouped Tuesday’s corrective losses overnight, while new-crop November futures pushed to a new contract high.

As of Dec. 31, Statistics Canada (StatsCan) estimated Canadian stocks of wheat, canola, barley, oats and soybeans were all well below year-ago levels.

Grain and soybean futures pulled back from Monday’s gains in corrective trade overnight on profit-taking and pressure from outside markets.

USDA will update its 2021-22 U.S. demand forecasts in the Feb. 9 Supply & Demand Report, though a bigger focus will be changes to the South American crop forecasts.

Soybean futures reached fresh contract highs overnight. Corn and wheat futures are following beans higher this morning. Livestock futures are mostly higher...

Soybeans rallied sharply overnight, scoring new contract highs, amid South American weather concerns. Corn and wheat followed soybeans higher.

There was broad, though relatively mild, price strength overnight across grain and soy futures amid support from outside markets.

Soybeans were pressured by profit-taking and corrective selling overnight, while the corn and wheat markets faced followthrough selling to Wednesday’s losses.

Soybean basis slipped only a penny as the cash price surged over $1 during the past week.

Soybeans posted new highs overnight, with the March contract topping $15.60 amid a continued price surge tied to South American crop losses and speculative buying. Corn and wheat modestly followed higher.

Wheat futures failed to find followthrough selling overnight after a bearish outside day down on Monday, which triggered light corrective buying. Corn also mildly rebounded overnight, while soybeans paused.

USDA estimates there were 91.9 million head of cattle in the U.S. as of Jan. 1, down 1.9 million head (2.0%) from year-ago and 762,000 head less than the average pre-report estimate implied.

Soybeans and corn posted fresh contract highs overnight. Wheat futures open the week under light pressure. Livestock futures are higher this morning...

Soybean futures posted another round of contract highs overnight, with the front-month contract reaching the highest level since June 2021 on the continuation chart. Corn and wheat followed soybeans higher.

USDA’s Cattle Inventory Report at 2 p.m. CT is expected to show the U.S. cattle herd as of Jan. 1 contracted 1.2% from year-ago.

Old-crop soybean futures led price gains across the grain and soy complex and posted new contract highs overnight.

Soybean futures pulled back early in overnight trade but have rebounded to post new contract highs this morning. Overnight price action was light and choppy in corn and wheat.