CBOT Corn Ends Firm; Argentine Dryness and Strong Export Demand to Provide Support into Late Year: Dec CBOT corn ended a penny lower. Deferred contracts ended slightly higher. Market strength despite another round of selling in crude is noteworthy. Managed funds on Tuesday were long a net 276,000 contracts, up 57,000 from the previous week.…
CBOT Corn Ends Weak; Strong Export Demand Intact: CBOT corn ended slightly lower on another round of weakness in global energy markets. Black Sea producer selling has risen this week, but it remains that US corn is the world’s cheapest origin. This has and will continue to be reflected in weekly export sales. Mexico this…
CBOT Corn Falls Sharply on Macro Weakness, Weakening Global Energy Demand: CBOT corn ended 12-14 cents lower. The general risk-off equity market mentality spilled into raw materials, and corn’s exposure to energy via large ethanol consumption leaves the market exposed to Covid’s spread in the US and Europe. The graphic attached shows that ethanol blending…
CBOT Corn Subject to Fund Liquidation Ahead of Weekly Energy Data: Dec CBOT corn ended slightly weaker on Tuesday. No new export sales were announced. South American weather stays favorable with additional rain probable across Argentina’s primary Corn Belt early next week. Macro market risks are elevated. This is due mostly to the US Presidential…
CBOT Corn Ends Weaker on Macros, Weekend Precip Across South America: Dec CBOT corn fell 2 cents. Soaking rainfall in Argentina over the weekend has eased near-term dryness concern. Global energy markets continue to struggle as record daily Covid cases have been recorded in the US and across much of Western Europe. Macro markets will…
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