Closing Comments July 26, 2024
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Wheat Weekly Comments July 26
Wheat started the week by opening the overnight session higher in all three exchanges and proceeded to extend session gains early. For the fourth session in a row, Mpls led the gains while the winter wheat exchanges tagged along. Mpls continue to see support from two directions. Weather forecasts calling for hot dry conditions for […]
Corn Weekly Comments July 26
To start the week corn opened the overnight session higher and extended session gains throughout the night and into the day session. Early support came from an export sale of 133 TMT of corn to Mexico. Additional support was due to technical buying as traders try to correct an extremely oversold market condition. Weather concerns […]
Soybean Weekly Comments July 26
Soybeans started the week by gapping higher at the start of the overnight session and then added to the gains for the rest of the session, closing sharply higher. Support came from a surprising move by China as they slashed interest rates to try to stimulate their economy. Hotter and drier forecasts for most of […]
Canola/Sunflower Weekly Comments July 26
To start the week canola gapped higher at the start of the overnight session and then held steady. When the day session started, the market shot higher and canola ended the day sharply higher. Hot and dry conditions this week for the Canadian Prairies while canola is blooming supported the market. Additional support came from […]
Cattle Weekly Comments July 26
Live cattle pushed higher every session for the week ending Thursday while feeder cattle traded with gains in 3 sessions, posting losses only in Wednesday’s session. Technical buying and the expectations of a strong economy helped to push cattle this week. A higher grain complex (corn and Soybeans) limited the gains in feeder cattle. Cattle […]
Farm Risk Management July 26
Export Sales Report July 25
Last week’s wheat export sales pace was estimated at 11.4 MB. After 7 weeks, wheat sales were at 36% of USDA’s expectations vs. 28% last year. With 45 weeks left in wheat’s export marketing year, sales need to average 11.8 MB to make USDA’s projection of 825 MB. Last week’s corn export sales pace was […]
Export Sales Report July 25
Last week’s wheat export sales pace was estimated at 11.4 MB. After 7 weeks, wheat sales were at 36% of USDA’s expectations vs. 28% last year. With 45 weeks left in wheat’s export marketing year, sales need to average 11.8 MB to make USDA’s projection of 825 MB. Last week’s corn export sales pace was […]
Farm Risk Management July 25
