MONEY FLOWING INTO GRAINS?
AUDIO COMMENTARY
Bullish price action
Money leaving other investments and flowing into grains
Are forecasts more important than actual crop progress
Setting up a hedge account
Explanation of our services
Listen to today’s audio below
Overview
Grains higher across the board despite some pressure from the outside markets. Support came from two main things today.
The first being that it was much cooler and wetter over the weekend vs last week, and that pattern could continue throughout the end of April leading to planting seeing some delays.
The second was Russia headlines. As Russia blocks shipping inspections in Turkey. Countries such as Hungry, Poland, and Bulgaria are all banning Ukrainian grain. Russia also continues to threaten that the black sea deal will not be extended. Nobody knows if it will be extended or not, but just the thought of it not being extended is enough to provide support. The deal expires May 17th, exactly a month from now.
As long as the weather forecast stays cool, we should see grains well supported. But keep in mind, planting conditions came in hot for corn after close today, coming in at the 6th fastest pace on record, so don’t be surprised to see some pressure tomorrow. Planting progress came in slightly faster for beans as well, while spring wheat was slower than expected.
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Yesterday's Weekly Grain Newsletter
Why We Could See New All-Time Highs
Read Here
Today's Main Takeaways
Corn
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Check Out Past Updates
4/16/23 - Weekly Grain Newsletter
Why We Could See New All-Time Highs
4/14/23 - Market Update
Funds Cover Wheat Shorts
4/13/23 - Audio Commentary
Planting - Is It Dry or Wet?
4/12/23 - Market Update
Grains Strong Despite Bearish Report
4/11/23 - Audio & Report Recap