CBOT futures are strongly higher at midday with corn, soybeans and wheat all trading to hefty daily gains. The volume of trade expanded with the rally as new investment enters the commodity space in line with the March US inflation rate of 8.5% – the highest in 40 years. Investment funds see commodities as a…
Mixed are CBOT futures at midday with the grains higher while the soy complex sags on profit taking and the fear that Covid is slowing Chinese import demand while cool/wet weather could add to already record large ‘22 US soy seedings. Moreover, reports abound that as the Midwest insurance revenue calendar moves allow the ability to…
The April WASDE Report was a yawner with WASDE once again conservative in their reducing the Brazilian soybean crop and raising 2021/22 US corn and soybean export estimates. It appears that “WADSDE” does not want to be part of the food inflation problem! Understandably, WASDE has no way of knowing when the Russian war will…
Mixed are CBOT futures at midday with soybeans leading the rally, while the grains slide on position squaring ahead of the USDA April crop report due tomorrow. The USDA report should not produce market fireworks, but at elevated prices and high volatility, traders want to be conservative in their positioning. AM CBOT trade volume is…
CBOT values are lower at midday in a back-and-forth type of day. Following two days of sizeable gains, traders are banking profits ahead of CONAB/WASDE on Thursday and Friday. And the Goldman Index fund roll starts Thursday and runs for 5 business days. The bear spreading in May futures and profit taking is capping rallies…
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