Today we have Existing Home Sales at 9:00 A.M. and API Energy Stocks at 3:30 p.m. Yesterday’s Crop Progress Report showed the harvest was near completion but rains in portions of the country put a snag in the overall picture. Rains in the Eastern Corn Belt and the Southeast slowed farmers with wet conditions. In […]Continue Reading →
We start out Monday morning with Export Inspections at 10:00 A.M., Milk Production at @2:00 P.M. and Cop Progress at3:00 P.M. The Grains failed to keep the rally going after Fridays surge in that trading session starting this holiday week. Corn harvest is very close to being over depending where you are geographically. In the […]Continue Reading →
We seem to have continued conflicting weather reports whether it is the European model or the U.S. weather model they all seem to be wrong which puts a shake and bake in the market and takes out investors with low risk tolerance and puts them out of the game. As we move closer to the […]Continue Reading →
Like the John Fogerty song Change in the weather and the closing days in harvest are keeping farmers off the field with wet cold weather. With smaller farmers and remaining acreage the question is do we try to take it out of the ground now or take a beating with silos full and cash prices […]Continue Reading →
We start off the day with Business Inventories, CPI, Real Earnings and Retail Sales at 7:30 A.M., EIA Energy Stocks at 9:30 A.M., NOPA Crush at 11:00 A.M. and Dairy Product Sales at 2:00 P.M. Last Trading Day on November Lumber, Palm Oil, Russian Ruble, Short Sterling and London White Sugar. Last Trading Day Options […]Continue Reading →
The U.S. Corn crop is seen 83% harvested versus 70% a week ago. A farmer I spoke with in Northwestern Illinois believes he will be done harvesting today or tomorrow. Which puts him ahead of the cut. Speaking of cuts hopefully Congress will get its act together and Tax Reform done as we need to […]Continue Reading →
We kickoff the week with Export Inspections at 10:00 A.M. and Crop Progress at 3:00 P.M. We also have a lot of earnings to report on this busy week of reports ahead of Thanksgiving week. Harvest is near complete and high waters are slowing navigation on the Ohio River near Paducah, Kentucky. As we have […]Continue Reading →
Yesterday’s Crop Production USDA Supply/Demand showed record yields that surprised a lot of investors and traders alike. After looking at the numbers I was surprised we did not trade even lower even with the market getting broadsided. A trader friend reminded me that commercials, funds and most investors are wary selling this far in the […]Continue Reading →
We jumpstart the day with Export Sales, Initial Jobless Claims and Wholesale Trade at 7:30 A.M. EIA Gas Storage at 9:30 A.M. and the kicker Crop Production USDA Supply/Demand at 11:00 A.M. We have frost followed by snow as farmers try to wrap up harvest. Also reports of high water in the lower Ohio River […]Continue Reading →
Today we have the EIA Energy Stocks at 9:30 A.M. after a not so bullish API number with the build in Gasoline disappointing for bulls. The API showed draws in Crude of 1.562 million barrels, Gasoline showed builds of 520 thousand barrels, Distillate showed draws of 3.133 million barrels and Cushing Oklahoma builds of 812 […]Continue Reading →
The USDA weekly crop progress showed Soybean harvest 91% complete and Corn harvest 70% complete. Certain farmers in varying Mid-West States in varying areas told me they were below the National average. And weather forecasts are predicting a frost Wednesday night heading into Thursday when the monthly release of Crop Production USDA Supply/Demand data. Traders […]Continue Reading →
Talk that farmers will be able to increase their freight loads by 10% to ease the burden of high Energy prices to get their loads to their destinations. Also the increase will increase safety as higher loads will lead the decrease on loads for safer travel. In the overnight electronic session the December Corn is […]Continue Reading →
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