Good morning friends Cotton markets are jumping in Sunday/Monday overnight trading as Hurricane Florence bears down on the SE coast/Mid-Atlantic US while the rest of the CBOT complex trades sideways. December cotton trades 83+ cents this morning, breaking above Fridays high. December corn trades right in the middle of its recent comfort zone between 365… Read more.
Good morning friends, There is little bullish impetus from the outside markets helping row crop prices right now. Weather should be somewhat friendly to price, although fall rain never seems to push funds into or out of new positions. The USD continues its push higher against minor market pairs, while competition against the major pairs… Read more.
Good morning friends The story this morning continues to be the collapse in emerging market currencies. Row crop traders are watching the Brazilian Real closely as trades just above the 2015 low when the Real traded near 4.28 to 1. We are already at an all-time closing low against the greenback, further weakness in the… Read more.
Good morning friends The carnage continues at the CBOT after President Trump announced plans are in the works for a tariff plan to hit back at China with tariffs on a list of another 200 billion dollars of import tariffs. Every market on my screen with the exception of the dollar and copper (oddly) are… Read more.
Good morning friends US row crop markets are higher across the board as I walk to work with 2 inches of snow on the ground here in Chicago, two weeks into the month of April. Corn and soybean prices have erased all of the selling that had taken place starting at 3 am on Wednesday… Read more.
Good afternoon friends! We had a bevy of reports today, starting with CONAB this morning which was neutral for soybeans (113 MMT beans/87.5 MMT corn) and bullish for corn. We then had USDA exports that were fantastic with a capital ‘F’ for corn, beans and cotton. Followed by maybe one of the most bullish USDA… Read more.
While the fear of a series of 2018 rate hikes has provided commodities with a double negative from a rising rates/strengthening dollar perspective, we think the path to higher rates won’t be as direct as what was priced into the market in late February. First of all, we think the excess stock market volatility from the beginning of February will serve to soften the February scheduled release data (the first of which will be the employment report on March 9th), and that could temporarily pull back the anticipated number of rate hikes.
Hello friends Corn and wheat markets continue to climb the ladder today while soybeans have corrected a bit following a good evening of overnight price action. March corn is trading at a six month front month high of 365, November soybeans traded almost to 1010 last night but have pulled back slightly on supply news… Read more.
Good afternoon friends! January of 2018 is a wrap! I figured a snapshot of more than a few commodity markets from 10,000 feet may be useful. As you can see in the case of the row crops, we have started to move but we have a long way we could go. Its easy to be… Read more.
Happy Monday friends “Covering” is the theme this morning as shorts scramble out of the CBOT markets and longs out of the cotton markets. The action over the last four days is almost a perfect inverse between the corn/wheat and cotton markets. Overnight, corn a penny higher and has extended even more as I write… Read more.