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Last week was probably the most epic geopolitical week in years. It featured yet another iteration of US/Chinese trade barbs, an escalation of Russian/US military tensions, and a missile attack by Yemeni rebels against Saudi Arabia. Countervailing these headwinds were…
PODCAST | The USDA released their April WASDE yesterday and we dive right in during the podcast. We think the biggest takeaway was what the USDA had to say about 2018/19 new crop corn exports. The Ag Forum had 2019/19 corn exports at 1.9 billion bushels. I think we could see 2.1 to 2.2 billion in… 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.
Senior Broker Tom Dosdall provides market insight and analysis for the day ahead in the corn and soy futures markets.
With US scheduled data into the end of March/end of quarter coming in positive and the trade facing the March nonfarm payroll report at the end of this week, it is possible that US economic expectations will be improved and markets like Treasuries, equities, copper, silver, platinum and palladium will resume the trends in place from the end of February. However, physical commodities…
Friday saw the USDA release its estimate of planted acreage for US corn and soybeans for 2018. Soybeans has a breakout setup ahead of the report and then saw a strong rally after the USDA forecast showed they expect lower soybean acreage this year. That breakout rally was a good trade opportunity; I wrote a… Read more.
The end of March Plantings Intentions and Grain Stocks reports from the USDA are an unofficial kickoff to the US growing season. As acreage has a large effect on the size of the crop, this report often is the catalyst for large market moves. That ended up being the case today. Soybeans had sold off… Read more.
Following turbulent trading last Wednesday and Thursday, global markets were showing some signs of stability ahead of the weekend. While the announcement of US tariffs on Chinese goods have led to a flare-up of trade friction and dampened risk appetites, there is some potential for tensions to cool down, as businesses will have a chance to discuss many of the tariffs with the US government before they go into effect.
It would appear that US scheduled economic data has returned to a choppy standing, but recent Asian data has clearly surprised on the upside. Chinese retail sales figures nearly returned to double digit percentage gains over year-ago levels, and those optimistic results were matched by strong data from Japan. Unfortunately for many physical commodities, the dollar has seemingly regained some favor, and “buy the rumor” action into the upcoming FOMC meeting might see that action extended.
In last night’s edition of Swing Trader’s Insight I labeled the May soybeans as having a Taylor Trading Sell Short day for Wednesday. In this morning’s note for STI I reiterated the Sell Short day call; that signal worked well today. This week was a good example of how the rhythm of the Taylor Trading… Read more.