ShapeShapeauthorShapechevroncrossShapeShapeShapeGrouphamburgerhomeGroupmagnifyShapeShapeShaperssShape
Sponsor message
Now new in the US - Dietary diformates Made in Germany Learn more

Daily US grain report: traders awaiting big USDA report Thursday

US grain futures prices were narrowly mixed in overnight trading Monday.

7 October 2019, at 1:07pm

Corn was up around 1 cent, soybeans down 1 cent and wheat around 1 cent lower.

The major event in the grain markets this week will be the USDA monthly supply and demand report out Thursday morning. There is no clear consensus regarding what the USDA will do regarding the size of the US corn and soybean crops, especially after the agency last week made surprising cuts to US corn and soybean stockpiles. That makes Thursday's report even more important and potentially creating more price volatility in its immediate aftermath. Trading is likely to be subdued up until Thursday morning.

Bulls working on price uptrend but need to show fresh power soon to keep it alive
Bulls working on price uptrend but need to show fresh power soon to keep it alive

© Jim Wyckoff

Weather in the US Midwest is bullish to start the trading week, as later this week is expected to find snow falling in the northern Midwest, with a hard freeze in portions of the northern Corn Belt that will halt the growing season in that area.

Bulls have near-term technical advantage as price uptrand in place
Bulls have near-term technical advantage as price uptrand in place

© Jim Wyckoff

The US-China trade talks restart in Washington, DC this week, and will be closely watched. There is no consensus on whether this latest round of discussions will make any progress toward a trade agreement.

Sponsored content
Our Formi products fulfil tomorrow’s requirements today.

Formi NDF and the 3rd Generation acidifier Formi 3G have been formulated to replace the need for in-feed antibiotics, by ensuring a strong antibacterial impact against Gram negative and Gram positive bacteria.

The Formi product line, based on Addcon’s patented diformate technology ensures optimal efficiency, highest growth rates and maximum safety, which are key requirements in animal production worldwide – and are now available in the USA.

Learn more