CBOT Corn Recovers from Session Low on Drier Midday Brazilian Forecast: CBOT corn futures ended weaker as December maintained support at its 200-day moving average. The market on Wednesday will trade US residual use in the Jun-August period exclusively. Thereafter, the market will focus on South American weather and US yield reports for the duration…
CBOT Corn Maintains Support at 200-Day Moving Average; Input Mixed: CBOT corn futures ended slightly higher amid strength in world wheat values and as US exporters sold 318,000 MTs to Japan and unknown destinations. This unknown destination (not likely to be China) reflects that traditional buyers were caught short ahead of the recent Chinese buying.…
CBOT Corn Recovers Slightly on Bounce from $3.61-3.61 December Support: CBOT corn futures ended with modest gains. Recall any delay in soybean planting dates could impact safrinha corn planting dates in February. It’s premature to be concerned, but its something that should be watched in coming weeks. Rallies will struggle on weak interior basis and…
CBOT Corn Extends Correction; Future Chinese Demand Less Certain: CBOT corn ended 5 cents lower as talk that Chinese government interest in US row crop supply is eroding. For now, this has been validated by the lack of Chinese demand for soybeans for the first day in 2 weeks. Improving Argentine weather expanding N Hemisphere…
CBOT Weakens amid Lack of Energy Demand Growth; Chinese Demand Absent: CBOT corn futures ended slightly weaker. Additional Chinese demand was lacking. This week’s EIA report confirmed that US ethanol supply & demand has found balance even at reduced production rates. Increasingly, new bullish input is needed to support Dec above $3.75-3.80. ARC’s work suggest…
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