Morning Summary: As expected, the grain and oilseed complex was able to post a modest rally overnight on generally light trade volume, with Minneapolis (HRS) wheat still leading the way. Just as Tuesday’s strong noncommercial-led selloff wasn’t a huge surprise, [...]

Morning Summary: It is much quieter in the commodity sector Tuesday morning than it was 24 hours ago with most markets glowing a dull red. I’ll start with the energy complex where even crude oil is showing a small loss, [...]

Morning Summary: I hope you had a good Father’s Day Sunday, though I know there was some severe weather across the US Midwest over the weekend. Also, Sunday was the Summer Solstice meaning it was the longest day of the [...]

Morning Summary: It seems Watson (my name for the algorithm driven large investor trade as a whole) cleared out its system of sell orders across the commodity sector Thursday, with most sectors trading higher overnight through early Friday morning. Leading [...]

Morning Summary: As I watched overnight markets unfold Wednesday evening, it seemed like Thursday was going to be one of those days. The US dollar index continued to rocket higher, helping gold collapse. Crude oil was lower initially, but by [...]

Morning Summary: Monday’s overnight session into Tuesday morning was clear confirmation, regardless of what the rest of the industry tries to tell you, traders trade weather forecasts rather than NASS’ weekly made up crop condition numbers. The morning run of [...]

Morning Summary: Welcome to a new week everyone. As we watched the commodity sector open Sunday evening, I was reminded of the scene from the movie “The Shining” when the blood came rushing from the elevator. New-crop December corn fell [...]

Morning Summary: A look at Friday morning’s radar gives us an idea as to “why” new-crop corn, soybeans, and spring wheat markets are under pressure to start the day, but the reality is this fast-moving line of thunderstorms isn’t going [...]

Morning Summary: …Weather, that is. As you all know by now, I couldn’t care less about the other forecasts that are set for release later Thursday morning from USDA. What we know as of this morning is soil moisture deficits [...]

Morning Summary: The first thought that crossed my mind when I ran the traps of the commodity sector Wednesday morning and came to grain and oilseeds was, “It must’ve rained somewhere.” I pulled up the 24-hour accumulation map and it [...]

Morning Summary: It’s another summer morning, meaning the grain and oilseed complex was higher again overnight. Similar to 24 hours ago, contracts have lost some of their bullish enthusiasm, not unusual pre-dawn activity as traders wait for the next weather [...]

Morning Summary:  As expected, the grain and oilseed complex exploded higher at Sunday evening’s open as it started the process of wrapping up its latest round of WWW (Wraparound Weather-market Weekend) Activity. However, once the initial buying burst had passed, [...]

Morning Summary:  The grain and oilseed complex rallied again overnight, erasing Thursday’s loss and setting the stage for what should be another volatile opening round of WWW (Wraparound Weather-market Weekend) Activity. A look at the past 72-hour precipitation map shows [...]

Morning Summary:  it was another busy overnight session with the grain and oilseed complex back on the plus-side of unchanged. Gains were consistent across the board, by percentage, though trade volume wasn’t big in any particular market. The US dollar [...]

Morning Summary:  The JBS cyberattack was front and center in financial news again this morning, with the talk from the company being most of its operations will be up and running Wednesday. Again this sounds familiar to what Colonial Pipeline [...]

Morning Summary: The first story I saw Tuesday morning had to do with the weekend cyberattack on the world’s largest beef producer, JBS, with its operations in North America and Australia initially affected. As of this writing it is unclear [...]

Morning Summary: As I was running through all the market sectors this morning and checking overnight news, I had the windows open listening to the early birds chattering away. I was reminded again of the old saying “the early bird [...]

Morning Summary: While any morning is a good morning to crank up some Supertramp, it fits Thursday morning to a tee as it’s raining again over parts of the western US Midwest. This wet weather pattern, bringing with it cooler [...]

Morning Summary: The commodity sector was mixed early Wednesday morning as the US dollar index continues to hold above its January low of 89.20. Metals were posting a solid gain with gold up 0.5% while copper and silver added 0.4% [...]

Morning Summary: The US dollar index was under pressure again overnight and still sitting in the red early Tuesday morning. This sets up what should be an interesting end of May/beginning of June timeframe, with the greenback’s long-term monthly chart [...]

Morning Summary: For the third consecutive weekend rain fell across much of the US Plains and Midwest, leading to another solid round of WWW (Wraparound Weather-market Weekend) Activity in the grain and oilseed complex. We saw corn, soybeans, and all [...]

Morning Summary: …So you know what that means, at least in the grain and oilseed complex. That’s right, the start of another round of WWW (Wraparound Weather-market Weekend) Activity. And the grain and oilseed complex wasted no time this week, [...]

Morning Summary: Given what we saw at the end of Wednesday’s session and overnight through early Thursday morning, Thursday promises to be a fun day. As we get rolling on a new day both the energy and metals complexes were [...]

Morning Summary: The Commodity Sector Reds took the field overnight, with the game ongoing through early Wednesday morning. The big three at the top of the order are all wearing the bright red jerseys with corn down 2 cents (0.4%), [...]

Morning Summary: The grain and oilseed complex posted a solid rally overnight, erasing some of the selloff seen during the most recent WWW (Wraparound Weather-market Weekend Activity). Trade volume looked to be generally light compared to what was seen Friday [...]

Morning Summary: While the commodity sector in general stabilized overnight the grain and oilseed complex was under pressure. This highlights the difference between futures markets (gold, copper, crude oil, etc.) and weather derivatives (corn, soybeans, wheat, and so on). The [...]

Morning Summary: The commodity sector was able to recover some of Thursday’s collapse overnight, with green numbers posted nearly across the board. At first glance I find three exceptions early Friday: July canola is down $1.50 (0.2%), July cocoa is [...]

Morning Summary: I’ve long said there are days when it’s best to turn off the quote screens and go outside, particularly if the weather is nice, and enjoy the day. If you are on the tractor planting, or in a [...]

Morning Summary: A quick glance across the market landscape Wednesday morning shows a more familiar sight, with the commodity sector mostly higher. Some markets, like those in the oilseed complex, were showing sharp gains with the in-delivery May soybean oil [...]

Morning Summary: The commodity sector stabilized overnight through early Tuesday morning, for the most part, with the most consistent sector being a sea of red washing across the energy complex. This is interesting, given the story on CNBC’s Squawk on [...]

Morning Summary: This past weekend was notable for a few reasons. First, Colonial Pipeline, one of the United States’ largest pipelines carrying refined gasoline form the Gulf Coast to New York, had to be shut down Friday night following a [...]

Morning Summary: The commodity sector continued its climb higher overnight, aided this time around by a weaker US dollar index. The greenback lost as much as 0.26 and was sitting within sight of its overnight low early Thursday morning. Global [...]

Morning Summary: I’ve been asked a number of times over the last six months how it feels to write the same thing nearly every morning. With that in mind, I’ll give you one guess as to how the various markets [...]

Morning Summary: The name on the top of the calendar page may have changed, but the activity of the various markets remains unchanged. Starting with global currencies, the US dollar index and Canadian dollar were down early Monday while the [...]

Morning Summary: Friday is first notice day for May futures contracts in the grain and oilseed complex, and there were a few interesting developments. Going on the assumption “a large number of deliveries tend to pressure nearby futures while a [...]

Morning Summary: The commodity sector in general was back in the green early Thursday despite the fact the US dollar index stabilized overnight and rallied. Outside of the grain and oilseed complex, the energy complex looked to be the strongest [...]

Morning Summary: Welcome to a new week, the last week of April already. And as I talked about in my latest Weekly Column, this week is going to be fun, from a fundamental point of view. A look at the [...]

Morning Summary: A look at the grain and oilseed complex shows us a picture we should all be used to by now with corn up almost a dime, soybeans up more than 20 cents, and wheat racing along behind. It [...]

Morning Summary: It was another cold morning across the US Plains and Midwest Wednesday, with freezing temperatures again dipping into the Texas Panhandle (see attached map). As one would expect given the time of year, the grain and oilseed complex [...]

Morning Summary: If you liked what you saw Monday in the grain and oilseed complex, then you won’t be disappointed in what the markets did overnight through early Tuesday morning. If, on the other hand, you were uncomfortable with Monday’s [...]

Morning Summary: That crashing sound you heard overnight was the US dollar index falling through support and technical price targets, reaching a low of 91.08, its lowest level since March 4. Conversely, as one would expect, the euro rocketed through [...]

Morning Summary: Most commodity markets took a much more relaxed approach overnight, some might even call it casual, generally showing muted moves early Friday morning. The US dollar index was down slightly, while the euro posted a small rally, both [...]

Morning Summary: While financial markets are mostly quiet to start the day, the commodity sector showed a bit of a bullish spark overnight. The US dollar index was up 0.01 as of this writing, though a look at how commodities [...]

Morning Summary: So far this week the commodity sector in general has stayed on scheduled. We got things rolling yesterday with a normal Manic Monday as nearly every market in every complex closed lower. Of course we all know what [...]

Morning Summary: As we begin this morning’s discussion on overnight market activity, we need to keep in mind what Richard Marx told us so many years ago, “It don’t mean nothin’”. At least in the grain and oilseed complex where [...]

Morning Summary: Early Thursday morning finds the commodity sector mixed again, with spring wheat making the biggest move. Here we see the old-crop contracts up 9 to 10 cents (1.5%) with new-crop September not far behind posting a gain of [...]

Morning Summary: I don’t know about you, but this has already seemed like a long week and we’ve only reached the early morning hours of Wednesday. There has been a lot of activity in the commodity sector Monday and Tuesday, [...]

Morning Summary: A quick check of the various market sectors shows activity more in line with what we expect to see on a Tuesday. After posting a sharp selloff to start the week, the US dollar index was showing a [...]

Morning Summary: Twas the morn’ after Easter and all through the land, the summer-like warmth had folks making plans. The farmers were restless with seed in their sheds, while visions of spring planting danced in their heads…Yes, a look at [...]

Morning Summary: The big news Monday morning is the container ship blocking the Suez Canal has been refloated, meaning it has been pushed away from the west bank of the canal, but traffic has not started moving in either direction [...]

Morning Summary: The commodity sector was largely glowing red early Thursday morning, taking a break from all of the green seen so far this spring. One of the first set of quotes I looked at was the energy complex and [...]

Morning Summary: Most commodities were back in the green to start the day with one exception being cotton. Here we see both old-crop May and new-crop December extending intermediate-term downtrends to new 4-week lows overnight, with May falling as much [...]

Morning Summary: Global currencies are seeing a case of Turnaround Tuesday with the Canadian dollar, Brazilian real, and euro all in the red (for further discussion on Monday’s action in the euro, see yesterday afternoon’s Chart of the Day). The [...]

Morning Summary: A quick check of markets early Monday shows a lot of red to start the week, with metals hit hardest. Silver was down 2.7% to start the day while gold was off 0.6% and copper slipped 0.1% lower. [...]

Morning Summary: As I mentioned in Monday’s Afternoon Commentary, my interest first thing Tuesday morning would be changes seen in open interest in the grain and oilseed markets given the CME’s increased speculative position limits. Based on Monday’s market activity, [...]

Morning Summary: I don’t know about you, but the first few mornings after the US does its ridiculous spring forward with time routine seem extra early. A look across the commodity landscape shows a mixed start to what should be [...]

Morning Summary: I’m sure we are all familiar with the old maritime saying, “Red sky at night, sailors’ delight. Red sky at morning…”. As you can see, I’ve paraphrased this a bit given the sea of red across the commodity [...]

Morning Summary: With the US dollar index, also known as the greenback, under pressure early Thursday morning the commodity sector in general was back in the green. One of the biggest rallies was posted in cotton where the old-crop May [...]

Morning Summary: The last week of February has begun, meaning the end of meteorological winter is in sight at the end of the month. Parts of the US Midwest were hit by a wet, heavy snowstorm over the weekend, precipitation [...]

Morning Summary: Though it may not feel like it where you are now, but Thursday is supposed to start the thawing process of the arctic dome that has been over most of North America the better part of a week. [...]

Morning Summary: It’s another cold morning across most of North America again Wednesday, with sub-freezing temperatures once again stretching south to the US Gulf Coast. But here’s the funny thing, as cold as it is this morning, it feels warm [...]

Morning Summary: While North America remains locked in a deep-freeze, the commodity sector remains red hot. Markets were higher across the board with the energy sector making the largest move. Here we see the effects of this February winter blast [...]

Morning Summary: Not much changed overnight, except for US stock index futures were showing small losses rather than their usual gains. Otherwise, the US dollar index was back under pressure, extending the short-term downtrend I talked about late last week, [...]

Morning Summary: Regardless of what Punxsutawney Phil said almost a week ago, now that the Super Bowl is behind us our thoughts naturally turn to spring (and for those of us who are baseball fans, Spring Training!). Adding to the [...]

Morning Summary: Tom Petty had it right when he sang the words used for Tuesday morning’s title, as we all wait for Punxsutawney Phil to either see his shadow or not this fine Groundhog Day morning. As you can see [...]

Morning Summary: The grain and oilseed complex was higher overnight for the third consecutive morning, bringing to mind the Benjamin Franklin Fish Similarity. Recall Mr. Franklin is credited for saying, “Guests, like fish, start to stink after three days.” When [...]

Morning Summary: Based on my names for the various days of the week, Turnaround Tuesday tends to follow Manic Monday. However, a check of the markets early this morning show most are continuing on yesterday’s path with the grain and [...]

Morning Summary: A look at Monday morning’s weather map shows a storm band stretching nearly unbroken from San Diego, California to Nags Head, North Carolina. Much of the US Southern Plains and Midwest is expected to see heavy snow and [...]

Morning Summary: is it just me, or does this seem like it has been a long week? Anyway, we have reached Friday morning, only one more session until we find ourselves enjoying another weekend, though commodity market bulls seem to [...]

Morning Summary: It isn’t often the first thing I do upon firing up the quote screen in the morning is chuckle. But that is exactly what happened early Wednesday when I saw soybeans were down, with the March contract losing [...]

Morning Summary: An initial look at markets Tuesday morning shows me there isn’t much new to talk about. The US dollar index was lower, again, and the energy complex was higher. Natural gas remains the laggard as that market’s spot-month [...]

Morning Summary: Late Sunday evening, news came out that US President Trump signed the stimulus and government spending bill, the latter presumably keeping the government open until at least January. This news sparked a rally in US stock index futures [...]

Morning Summary: …you’ve seen them all. Stop me if you’ve heard this one before: “US stock index futures are higher to start the day with gains seen in all three major markets. Meanwhile, the US dollar index is lower, sparking [...]

Morning Summary: Thursday morning’s markets don’t show us anything spectacular with most doing about what would be expected given the moves seen earlier this week. The US dollar index was under light pressure, again, dropping below 91.00 for the first [...]

Morning Summary: It’s another chilly winter morning across much of the US and Canada, though the attached temperature map shows an interesting thread of above freezing temperatures cutting across the US and Canadian Plains. For whatever reason, it makes for [...]

Morning Summary: The roll of the calendar to December means the beginning of meteorological winter, and as you can see on the attached temperature map most of the United States and Canada is welcoming the new season by registering below [...]