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…
CBOT Corn Ends the Week Higher; European Market Soars: Dec CBOT corn rallied 4 and US values continue to follow other world markets upwards. Talk of additional Chinese import licenses is unconfirmed. Brazil’s interior market continues its surge, ending the week up $.55/Bu. Spot corn in Europe rallied €6/MT ($.18/Bu). There’s further upside in Europe…
CBOT Corn Rally on Solid US Export Sales; Brazilian Market Rally Accelerating: CBOT corn ended slightly higher despite weakness in neighboring wheat and soy markets. Managed funds bought another 3,500 contracts on Thursday. Increasingly, world cash prices relationships favor strong US export demand well into late winter 2021. Rising export demand potential will underpin breaks…
CBOT Corn Adds Premium to Slow US Exports; Ethanol Concern Lingers: CBOT corn futures ended higher as the pull of rising cash markets in Brazil and Ukraine. Brazil’s interior corn price index has rallied 4% in just two days. Ukrainian basis has hit a new 4-year high and seasonal trends there remain positive into January.…
CBOT Corn Follows Soy/Wheat Higher; US Harvest Slowed Temporarily: CBOT corn futures found fresh rally highs. Corn-specific news is limited to a coming slowdown in harvest across the N Plains and E Midwest. This tightened nearby calendar spreads. Fob basis in South America and Ukraine is firm, leaving US as the world’s cheapest origin for…
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