** CBOT Corn Ends Firm; Arrival of South American Crop Weighs on Global Feed Markets: CBOT corn futures ended stable. Corn-specific news limited. Weekly ethanol inventories, to be released Wednesday, will remain well above year-ago. Global fob markets are beginning to reflect the looming harvest of a sizable South American crop. New crop Brazilian corn…
** CBOT Corn Falls Below Chart-Based Support: CBOT corn followed the sharp losses of many asset classes on Monday. Corn-specific news is lacking but global GDP forecasts are being revised lower as coronavirus spreads. Weak energy markets to weigh on ethanol production and blending incentives. The spot futures-based ethanol production margin is attached and there’s…
** CBOT Corn Struggles Following Outlook Balance Sheet: CBOT corn futures ended slightly weaker on Friday. The USDA’s Outlook Form balance sheet paints a picture of oversupply with normal weather. It remains that the market’s perception of swelling US corn stocks needs to be changed – via weather – to prevent a steep correction in…
** Corn Extends Decline Following First Day of USDA Outlook Forum, Record Ethanol Stocks: CBOT corn futures ended weaker as presentations at today’s Outlook Forum lacked bullish insight. Chinese demand and spring weather patterns are awaited, but the longer-term concern remains oversupply and the risk of downgrade to production margins in 2020. The USDA pegged…
** Corn Ends Weak on Lack of Fresh News; 2020 Acreage Update Starts Thursday: CBOT corn futures ended 2.0-2.5 cents lower. There’s still no confirmation of looming Chinese demand, though ARC mentions US corn is highly competitive within China when duties are waived. However, China has been active in securing Ukrainian origin corn of late,…
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