WHEATGeneral Comments: Wheat markets were higher last week as Wheat remains a weather market. The weather remains too dry in the northern Great Plains and in the Canadian Prairies and farmers can’t plant. It has been very cold and some Winterkill was possible in the central and southern Great Plains. Any damage is expected to…
WHEATGeneral Comments: Wheat markets were a little higher despite negative weekly export sales and trends are up on the daily charts. Futures rallied on cold weather in the Great Plains. It has been dry but there are forecasts for some precipitation in the next few days. Texas might miss the best precipitation but still should…
COTTONGeneral Comments: Futures were higher on poor planting conditions in Texas. It remains dry in western and southern Texas and planting of Cotton has been delayed. Scattered showers are in the forecast for the next few days to provide some relief and it will be colder. USDA increased export demand and lowered ending stocks levels…
We start off the day with Housing Starts & Permits at 7:30 A.M., Michigan Inflation Expectations Prel (Apr), Michigan Consumer Sentiment Prel (Apr), Michigan 5-Year Inflation Expectations Prel (Apr) and Michigan Consumer Expectations Prel (Apr) at 9:00 A.M., Baer Hughes Oil and Total Rig Count at 12:00 P.M. On the Corn Front we saw a…
Oil prices broke out of their month-long trading range to the upside as we expected it would and now it has to complete the process. It is becoming apparent that global demand is on the rise as OPEC and U.S. production has been restrained. The upside trend should complete the process and resume a test…
Mon April 19th is First Notice Day for May Cocoa. All LONG positions at the close of business Fri will be at risk of delivery. Mon April 19th is Last Trading Day for April Currencies. All positions must be liquidated by close of business Fri April 16th. Tues April 20th is Last Trading Day for May Crude Oil. All positions must be liquidated by close…
WHEATGeneral Comments: Wheat markets were higher and trends turned up on the daily charts. Futures rallied on cold weather in the Great Plains. It has been dry but there are forecasts for some precipitation soon. Only Texas might miss good precipitation but still should get something. The weather is currently too cold and dry in…
COTTONGeneral Comments: Futures were sharply higher on a weaker US Dollar and a recovery in the stock market. The weather has become important. It remains dry in western and southern Texas and planting of Cotton has been delayed. Scattered showers are in the forecast for the next few days to provide some relief and it…
Financials: As of this writing (6:15am) June Bonds are 3 higher at 151’08 and up 26 for the week, 10 Year Notes up 5over night at 132’06 up 10 over the last week and 5 Year Notes 2.5 higher at 123’07 down 1 for the last week. Yields moved mostly lower with the 2year up…
Support
Weekly Ag Markets Update – 04/19/2021
Wheat: Wheat markets were higher last week as Wheat remains a weather market. The weather remains too dry in the northern Great Plains and in the Canadian Prairies and farmers can’t plant. It has been very cold and some Winterkill was possible in the central and southern Great Plains. Any damage is expected to be…