The wheat markets are quiet with not much business reported for new crop since they heated up two weeks ago. Wheat with 11.5 percent protein rose to the mid-$180s/MT for December-February shipment, but two factors have pressured prices this week. Soybeans Brazil Brazilian basis levels have been gradually dropping after last week’s CBOT rally. The rally was great news for Brazilian farmers who have been selling fairly good volumes of old and new crop soybeans each day since it started. Selling has been heavier in the new crop and has forced that basis downward, which is turning out to be an interesting level for some trading houses to take a position. Sellers were offering February at $0.53H, March at $0.42H and April/May $0.33-0.34K, all...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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