Latest News From Brian Grete

It’s typical for frozen beef stocks to rise during December, though the increase was slightly greater than normal. It’s also normal for pork stocks to decline in December, though the drop was less than average.

Weekly corn, soybean and wheat inspections were all within the range of pre-report estimates.

Corn and soybeans are under pressure as wheat futures find support to start the week. Cattle futures are sharply lower as lean hog futures post corrective losses.

Wheat futures were supported by increased geopolitical tensions between Russia and Ukraine, while soybeans and corn were pressured by South American weather.

With all three categories coming in on the bearish side of the average pre-report estimates, the report is price-negative.

Soybeans, corn and spring wheat pulled back from Thursday’s gains overnight, while winter wheat futures extended yesterday’s losses.

The National Weather Service’s (NWS) 90-day forecast continues to give elevated odds of above-normal temps and below-normal precip across HRW areas of the Southern Plains through April.

Soybean futures built on Wednesday’s strong gains overnight, while the corn and winter wheat markets faced corrective selling.

Corn basis firms, soybean basis slips; both remain above futures.

Soybeans rebounded from Tuesday’s losses overnight, while wheat and corn extended yesterday’s gains.

Corn and soybeans open the week under pressure with wheat futures higher. Livestock futures are choppy but quiet...

Soybeans posted double-digit losses overnight coming out of the extended weekend, while corn was slightly lower. Wheat futures posted corrective gains.

Access this week’s newsletter here.

Soybeans and wheat extended Thursday’s losses overnight, while corn mildly bounced after holding support at yesterday’s lows.

Soybean futures pulled back from Wednesday’s gains overnight, while corn and wheat faced followthrough selling.

Boxed beef prices strengthened over the past week, while the cash cattle price weakened.

The wheat market had the biggest reaction to the data as winter wheat seedings topped expectations, while U.S. and global wheat ending stocks increased from last month.

Corn, soybeans and wheat held in tight trading ranges overnight as traders await USDA’s January crop reports later this morning.

Corn, soybeans and wheat held in relatively tight trading ranges in quiet overnight price action.

USDA’s January crop reports tend to swiftly move markets since there’s so much data.

Corn, soybeans and wheat are under pressure after trading lower overnight. Livestock futures also open the week under pressure.

Wheat futures are trading low range this morning, while corn and soybeans are near midrange.

Access this week’s newsletter here.

Wheat futures extended their sharp price drop overnight, while corn and soybeans also declined.

Soybean futures are posting double-digit losses this morning but are off their overnight lows.

Cash livestock/meat prices start 2022 well above year-ago.

Wheat futures erased most or all of Tuesday’s gains overnight, while corn and soybeans mildly favored the downside.

Too much heat and dryness across southern Brazil and northeastern Argentina, along with too much rain in some areas of central and northeastern Brazil continues to curb South American crop production prospects.

Individual state crop conditions ratings released on Monday showed major deterioration of the HRW wheat crop during December.

Soybean futures built on Monday’s gains overnight, while corn and wheat mildly rebounded from yesterday’s losses.

Corn and soybean futures are higher with wheat futures opening the new year mixed. Cattle futures are mildly weaker with lean hogs slightly higher.

The first trading session of the new year started with a bang as soy futures led overnight gains in the grain and soy complex.

Corn, soybeans and wheat traded both side of unchanged in light price action to kick off the last trading day of the year.

Soybeans and corn are trading lower and near session lows this morning, while wheat futures are mostly weaker.

Corn, soybean and wheat futures are trading near session lows this morning as markets extend Tuesday’s weaker (and low-range) closes.

A slow weakening of the La Nina weather pattern is expected in January, but its influence on South American weather will likely continue without much change into at least mid-January.

Soybean basis slipped again, but remains well above the three-year average.

March soybean futures reached the highest level overnight since mid-July, as the strong rally was extended.

wheat inspections mildly increased but remain slow.

Corn, soybean and wheat futures are higher to start the week although spring wheat futures are lower on profit taking. Livestock futures are also higher.

Corn, soybean and wheat futures extended their recent rallies overnight as traders returned from the extended Christmas holiday weekend.

USDA estimates there were 11.985 million head of cattle in large feedlots (1,000-plus head) as of Dec. 1, down 51,000 head (0.4%) from both year-ago and the average pre-report estimate.

USDA estimates the U.S. hog herd at 74.201 million head as of Dec. 1, down 3.111 million head (4.0%) from last year.

Grain and soy futures posted light, two-sided trade overnight in thin pre-holiday price action.

Beef stocks rose contra-seasonally in November. Pork stocks declined, as is normal, but not nearly as much as the five-year average.

Soybean futures extended Tuesday’s strong rally overnight, while old-crop corn futures finally topped the $6 level after nearly two months of trying to get above that psychological mark.

Soybean basis slips but remains well above the three-year average.

The U.S. hog herd is expected to be 2.9% smaller than year-ago as of Dec. 1.

Price action in grain and soy futures was relatively quiet in two-sided trade overnight.

Soybean and wheat export inspections each declined mildly from week-ago.