CBOT futures are mixed at midday. The lack of fresh buying from China has allowed soybean futures to sag, while corn/wheat hold in the green on concerning US and Canadian weather. The volume of trade is well down on prior days, but limited sell orders rest above the marketplace. Brazilian soybean basis bids have declined…
CBOT futures are mixed at midday with corn/soybeans firmer, while wheat sags on the prospect for rain across the drought-stricken areas of the Plains after May 3rd. Corn/soyoil futures have scored new contract highs amid cash rumors of China securing US July/August corn. May corn futures reached $8.20/Bu, the highest price in nearly a decade,…
CBOT futures are mixed at midday with old/new crop spreads weakening ahead of May’s 1st notice day. There was selling noted right after the opening tied to the weakening of the US/world financial markets as the DOW fell 500 points. The weakness of the marco-markets caused the algo funds to be grain sellers, which was…
It is a macro-Monday with sharp losses in world equity prices and worry over China locking down Beijing (and other cities) would slow commodity demand thereby pressuring CBOT values. Although there is no statistical evidence that world grain demand is slowing, it’s the fear of a future recession along with 1st notice day against May…
CBOT futures are lower shrugging off bullish demand news (new US corn sales to Mexico/China) to trade lower into midday. Soyoil futures has been able to hold opening gains, but corn, wheat, soybeans, and soymeal are trading in the red with double digit losses occurring in corn. CBOT corn/soybeans had become overbought and subject to…
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