Kleist Comments

MORNING GRAINS 1/28/14
MORNING GRAINS 1/28/14

Corn:

Exports: Sold Spain 110,000t old crop.

Comments: Well, March corn grindingly in an uptrend, albeit a narrow one and currently over its ‘confluence’ of m/a’s I look at. Spain last bought just Friday and suggests export demand remains decent and supportive for now. Open interest fell 2,300 led by H/K off 9,200 amid light-side volume.

SOYBEANS:

Exports: None Visible.

Comments: Trading affair remains, no overtly bullish news and bearish news (South America) remains a likely upside capping feature. Open interest little changed in total and really individually, volume light/moderate. China futures quiet except for palm and soyoil strongly lower (post Lunar?). Nothing new here.

Wheat:

Exports: Egypt in unspecified.

Comments: OK. Weather is the reason wheat higher today. Early anyway according to the wire services. And yet rallies do not hold even as contract lows tested and holds. “Fill in the blanks’ gentlemen. Ukraine exports up 34% but like Russia up yesterday, old news. Open interest little changed in total and individually amid moderate volume. Nothing new here either.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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