The overnight market have once again shown some signs of life in the soy-complex as this market seems to be the only market that has global interest. The beans as of 8CST are trading +6-9, meal gained $1.50-2, oil increased by 25-30 points, corn is virtually unchanged…again and wheat is up 2-3.
The overnight trade is starting the month of December with renewed hopes that December of 2012 will give a Christmas present like the December of 2011. The beans are already +20, meal has gained $5, oil has posted gains of 70 points, corn is pushing 10 higher and wheat is also +10-12.
The overnight markets once again have lost the momentum as it seems the entire market place is watching the same movie. The beans are trading down 10-12, meal is down $3-4, oil has eased by 20 points, corn is down 2-3 and wheat is hovering around unchanged.
The overnight markets are starting to show signs of life again, but considering the bean market is down nearly 10% since the first of the month things are just trying to get its footing again before it starts to run.
Published Friday morning, 11/2/12 The overnight markets are easing due to the fact that FCS issued its estimates yesterday afternoon and to no surprise the bean yield was raised to 39.1 with overall production at 2.959b. The corn yield was also raised to 124 which is a bit surprising with overall production at 10.884. The markets as of 8CST are trading down 7-8 in the old crop beans while
The overnight markets have continued where yesterday left off with gains being posted in nearly every market. The grain market seem to be gaining some interest again as the equity markets have lost nearly 4% in the past week, this lowers the overall bench market of returns for the year and gives some more runway to trade and place risk back on knowing that the equity benchmark is now up 11% rather than 15%.
The overnight markets have continued where yesterday left off with gains being posted in nearly every market. The grain market seem to be gaining some interest again as the equity markets have lost nearly 4% in the past week, this lowers the overall bench market of returns for the year and gives some more runway to trade and place risk back on knowing that the equity benchmark is now up 11% rather than 15%.
It’s a new day and a new week and after last week’s dismal start to market sentiment and price activity the markets actually finished the week higher vs. the previous week and is continuing the momentum this morning.
It’s hard to believe that the markets are actually now higher on the week by nearly 35 cents in beans and 10 cents in corn after the week had started. The overnight markets are attempting to sustain the gains of yesterday. The overnight news that spiked the wheat markets higher is based on the fact that Ukraine announced they will ban wheat exports starting on November 15th, there is still a lack of clarity if this affects the sales on the books that are scheduled to ship after the 15th or just preventing any further sales.
The overnight markets have made a feeble attempt of recovering some of the devastating losses that have occurred in the past 2 trading session. The beans as of 8:00Cst are hovering near 10 cents higher in the session, meal has gained $3, oil increased by 40-50 points, corn increased by 6-8 and wheat has gained 8-10. Its Tuesday and the markets have been punished over the past few sessions, don’t be too quick to jump back on the bull wagon as there has been extreme technical damage and the beans have a gap that should be filled down to 1478 that dates back to June.
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