Monday Morning Grains
The grains markets are firmer Monday morning, adding to friday night's gains, with beans, wheat and corn all mostly 4-5 cents firmer.
US farmer selling remains light on soybeans forcing the cash basis higher. The USDA are out Wednesday with their latest S&D estimates, and some analysts are forecasting a cut in soybean ending stocks by around 25 million bushels.
The ongoing dispute between Argy farmers and the government is also keeping the nearby cash market tight as farmers their also sit on their hands, and their beans!
I wonder if we are starting to see a bit of a trend developing here?
Argy farm leaders meet with the government there again tomorrow when the thorny subject of the soybean export tax will no doubt be on the menu. As the government have already clearly stated that they will not be moving on the issue (because they desperately need the tax to pay the bills), it will be interesting to judge the farmers' mood after this one.
US wheat remains under threat from drought in the Southern Plains.
US farmer selling remains light on soybeans forcing the cash basis higher. The USDA are out Wednesday with their latest S&D estimates, and some analysts are forecasting a cut in soybean ending stocks by around 25 million bushels.
The ongoing dispute between Argy farmers and the government is also keeping the nearby cash market tight as farmers their also sit on their hands, and their beans!
I wonder if we are starting to see a bit of a trend developing here?
Argy farm leaders meet with the government there again tomorrow when the thorny subject of the soybean export tax will no doubt be on the menu. As the government have already clearly stated that they will not be moving on the issue (because they desperately need the tax to pay the bills), it will be interesting to judge the farmers' mood after this one.
US wheat remains under threat from drought in the Southern Plains.