Open to slightly higher grain prices on Friday

FOR FRIDAY: (10/14) Wheat was the big story on Thursday and it was a very unusual day that surprised us. Wheat export business included Egypt buying Black Sea wheat, Saudi Arabia in the market for nearly 600,000 metric tons, and Japan buying some U.S. wheat. Farmers harvesting Midwest corn and soybeans should have dry weather…


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Open to selling recoveries in cattle

FOR THURSDAY: (10/13) Farmers harvesting Midwest corn and soybeans should have dry weather on Thursday. More rain arrives in Iowa on Friday. The latest 6- to 10-day outlook (Oct. 17-21) has more rain for the Midwest and above-normal temperatures for most of the country. Not many surprises in the USDA report and a typical October…


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Cattle may bounce from oversold conditions

FOR WEDNESDAY: (10/12) For Wednesday’s crop report, participants in trade surveys expect USDA to trim the corn crop in that report and slightly raise the soybeans. Cycles look lower into Monday and any rallies on Wednesday will be a gift for cash selling and hedging. Hogs should hold up at least one more day and…


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Grain cycles lower next few days

FOR TUESDAY: (10/11) The weekly grain inspections report and weekly crop progress will be released on Tuesday. Rain has entered Midwest forecasts for this week and next week, which is a change from the hot, dry pattern that had been expected. The latest 6- to 10-day outlook (Oct. 12-19) has transitioned to a wet but…


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Have to wait for better levels to sell and hedge

FOR MONDAY: (10/10) We’re moving toward Wednesday’s USDA report which could hardly add any good news now that the market is overbought and harvest pressure is mounting. Still, we have to wait for better levels to sell and hedges and hope the market can get higher once again. At some point we may have to…


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Cattle cycles suggest lower early and recovering on Friday

FOR FRIDAY: (10/7) Farmers in the Midwest will dodge rain the next two days while harvesting corn and soybean, but should have drier weather after that. The latest 6- to 10-day outlook (Oct. 11-15) is for a warm and drier pattern for the region. Corn came off a bit more than we expected but we…


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Willing to buy key support on wheat

FOR THURSDAY: (10/6) Not sure we learned too much on Wednesday except people are willing to buy key support on wheat near 390 and there is value there. Otherwise it was a wash day of non-significance. Rain will plague the Midwest corn and soybean harvests this week, with severe storms expected on Thursday from Kansas…


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Grains and cattle rally to continue one more day

FOR WEDNESDAY: (10/5) Commodity Weather Group reports that rain continues to plague the Midwest harvest with forecasts putting severe storms in Kansas and Nebraska today and flash flood warnings from Oklahoma to Minnesota. Rain lingers on Wednesday with more storms in Kansas on Thursday and flash flood warnings from Kansas to Iowa. So far there…


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More rain in Iowa this week may support grains

FOR TUESDAY: (10/4) Monday’s violent rally was a bit of a shocker. We had cycles up for a few days and funds sometimes buy Oct. 1st for a week or so before the next USDA report but this was a bit much. Some announcement of the USDA not allowing flooded grain onto the market was…


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Cattle look higher on Monday

FOR MONDAY: (10/3) Corn closed higher for the day after USDA reported smaller-than-expected Sept. 1 stocks of 1.74 billion bushels. The change in the stocks and other factors were enough to push December past resistance at the 20- ($3.34) and 50-day ($3.34) moving averages and higher for the week. Going into October, attention will focus…


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