Latest News From Brian Grete

Wheat futures led gains, pushing above yesterday’s highs, while corn and soybean futures did not clear Tuesday’s highs.

Soybean basis firmed 3 cents, while corn basis improved 5 1/4 cents.

While some portions of the bill would benefit ag, AFBF says the massive spending and tax increases would outweigh the gains. 

October 2020 placements were unusually light and October 2021 had one less slaughter day than year-ago.

Soybeans led the overnight price rebound from Tuesday's losses.

Forecasts call for drier-than-normal conditions in far southern Brazil and across much of Argentina through January.

Nearby soymeal futures are mildly firmer this morning but failed to push above Monday’s highs overnight.

The HRW CCI rating is still 9.0 points below the five-year average for mid-November, while the SRW rating is 4.9 points above average.

Winter wheat crop ratings unexpectedly improve.

Soybean inspections were still in the middle of pre-report expectations at more than 2 MMT, while corn and wheat shipments topped expectations.

Soybeans are mildly higher with corn futures lower and wheat futures mixed to start the week. Livestock futures are under slight pressure.

The strength in soymeal failed to trigger overnight buying in soybean or corn futures.

Concerns with mounting inflation caused the sharp drop in attitudes as consumer prices surged to nearly a 31-year high.

Export sales for all three were within expectations, with corn sales of nearly 1.1 MMT and soybean sales of almost 1.3 MMT.

Two-sided price action was seen in corn and wheat futures overnight, while soybeans were firmer for much of the session, but all three are weaker this morning.

EPA Administrator Michael Regan made the "unhappy" comment at the COP26 summit in Glasgow.

Oklahoma saw the most drought improvement, with coverage in the state declining five percentage points over the past week.

Ethanol prices surge above $3, more than double last year's level.

Government offices are closed for the federal Veterans Day holiday. Markets are open.

Soybean basis firmed 6 1/4 cents over the past week to a penny above January futures.

The news helped fuel a strong rally in wheat futures today.

The surge in consumer prices came a day after data showed producer prices also jumped sharply in October.

Corn futures extended their gains but failed to clear yesterday’s highs. Wheat futures were mostly firmer overnight

Soybeans rallied on short-covering following the report after being sharply pressured the past week.

USDA lowered its soybean crop by 23 million bu., whereas traders expected a 36-million-bu. increase.

Spring wheat futures led overnight gains in light trade ahead of USDA's November crop reports later this morning.

The HRW rating is well below the five-year average, while the SRW rating is still above its norm for early November.

Corn harvest advanced to 84% done, while soybean harvest was 87% complete as of Sunday.

Soybean inspections topped 2.6 MMT the week ended Nov. 4.

Grain and soy complex futures are under pressure to open the week. Live cattle futures opened weaker but have since reversed course and lean hog futures opened firmer but have turned mildly softer.

Grain and soy complex futures posted quiet, two-sided trade overnight as traders start to prepare for Tuesday's November crop reports from USDA.

Traders are expecting bigger corn and soybean crop estimates.

Projections of note for the 2022-23 marketing year.

The bigger crop estimate is expected to increase the 2021-22 bean ending stocks projection. But traders see corn carryover declining a little, as ethanol use is likely to rise.

Beef exports to China are up more than 700% this year, while pork shipments are down 37%.

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Corn and wheat futures are posting mild corrective gains early this morning.

Ag trade ran a $2 billion trade deficit in September.

USDA says 43% of U.S. winter wheat areas are experiencing drought conditions, unchanged from the previous week.

Soybean sales totaled nearly 1.9 MMT, while corn sales topped 1.2 MMT.

Corn and wheat futures halted their corrective pullbacks from the two previous days overnight, but soybeans extended Wednesday’s declines.

Soybean basis firmed despite the rollover to the January contract, which is around 13 cents above November.

As was widely expected, the Federal Reserve will begin dialing back its asset purchases by $15 billion per month, starting later in November.

The reduction in monthly asset purchases will be $15 billion per month, as widely expected.

Soybeans were also slightly lower overnight, pulling back from Tuesday's gains.

Second quickest planting pace on record means the earliest soybeans should be harvested by late December this year.

Spring wheat futures led gains in the grain and soy complex overnight.

Decline in the HRW crop was led by Texas, though crops in Kansas, Colorado, Nebraska and Montana also dropped.

Winter wheat conditions decline, whereas traders expected a slight improvement.

Corn and soybean export inspections met expectations, with soybean shipments near the high end of pre-report estimates.