Grains

U.S. Department of Agriculture’s Export Sales Report for the week ending Jan. 2 will be published at 8:30 a.m. EST on Friday, Jan. 10, instead of Thursday, Jan. 9, due to the weather-related closure of Washington, D.C.-area federal offices.
Fundamentals: Soybeans took a tumble on Friday as US/Iranian tensions rose, prompting some profit-taking on concerns it could throw a wrench in trade negotiations with China.
Oliver Sloup breaks down the trading day in grain futures markets.
January soybean futures continued to climb higher yesterday; we are attributing that to continued short covering. The positive headlines are starting to fizzle out, this could lead to a bit of a pullback into next week’s option expiration.
Soybeans skyrocketed higher on Friday but closed well off of the highs as details around the Phase 1 trade deal led to confusion. The market is trading against those highs in the early morning trade as some of the details have been ironed out over the weekend.
Oliver Sloup breaks down the trading day in grain futures markets.
Corn futures broke lower yesterday after failing to find a bullish fundamental catalyst in USDA report. We look to buy with the expectations that we see a technical double bottom and then demand shift by the turn of the year.
Yesterday’s USDA report lived up to the expectations, a total snoozer.
An update on agriculture futures markets to start the week from Blueline Futures.
Oliver Sloup breaks down the trading day in grain futures markets.