Grains Are Wobbling, So Mark Your Calendars for September 30

Futures prices in December (ZCz25) lost two years last week, while soybeans (ZSX25) fell in 11 cents a week. Futures decreased in December Red Reed (Zwz25) and solid red winter wheat (Kez25) last week 2 3/4 cents and rose 1/4 cents, respectively. Grain markets are hesitant where the harvest of corn and soybeans in the United States moves to high equipment, and it is expected to be very large American returns. This gives Corn and Bean Bulls a pause amid the seasonal hedge coming from the sale of commercials as farmers sell their crops in local elevators.

Last week’s trading was volatile for the Corn Futures market, where Bulls could not collect a decent victory chain in the past two weeks. This indicates that the bullish trend on the daily graph may roll. The return of last week in the US dollar index ($ DXY), reaching the highest level in four weeks, also provided winds with corn market as well as other grains.

On the bright side, the demand for export on American corn was good recently, which is likely to maintain a floor under the prices. New American commercial deals are likely to produce more global demand for American corn.

It is expected that the rain in the Middle West will reduce the next two weeks, while the warm temperatures during the next ten days will keep the ripening rates of crops high and the harvest must become more aggressive. There is no danger from frost or freezing until late next week and is likely to be on the next weekend as well. Thus, the weather tends to what tends to corn and soybeans, as farmers bring together traders steadily in the next two weeks.

The bulls in the soybean market are anxious about the landfinner pattern of the daily strip chart for the future November decades that were formed last week. The future of the soybean meal (ZMZ25) is still the weakest in futures in the soy complex. The meal will have a better performance for soybeans for a chance to restart the upward trend.

Last week, the markets for soy contracts were hit by news that about 40 Argentine soybeans were registered for export in November and December during the export tax suspension, most of them head to China. However, it is important to note that China usually buys about 90 % of soybeans exports in Argentina. The total reservations so far do not move away from what is considered natural for Argentine exports. Therefore, while the sales of the export of Argentine soybeans increased significantly last week, the total exports may not be away from what was expected before the tax reduction. China showed a strong appetite for soybeans. While Argentina will provide short -term needs, global demand for soybeans will continue to grow and the narrow American public budget will continue. This is a long -term oud element for soybean market.