CBT Mixed as Corn Sags on Fund Selling; Rumors that China Secured US Corn Cannot be Confirmed by Cash Traders; Stats Canada out Aug 30

CBT futures are mixed at midday following a liquidating break in December corn futures below $5.30. Soybean/wheat futures followed corn to easier levels, but never reached into the red. Soyoil is posting strong gains on the expectation that the Biden Administration won’t break its promise to US farmers on steady to expanding biofuel use made…

EPA Suggests Mandates Below 2020 Which Layers on More CBT Selling; China Selling 1.0 MMTs of Soybean Reserves; Key Support for Corn

CBT futures have been sinking since the opening bell on fund selling and a rumor that China may have sold 1.0-1.5 MMTs of soybeans from their reserve to help short bought crushers manage nearby supplies. The Chinese rumor has yet to be confirmed, but crushers are in one of their closest bought positions in years.…

Funds Pound Corn/Soy as 50/100 Day Moving Averages Breached; China Buys Additional US Soybeans on the Break; Sept Paris Wheat Inverse

CBT futures are lower at midday as “risk off” is the theme as Wednesday’s minutes of the US Central Bank indicated that it is moving away from its highly accommodative monetary policy. The 1st step in slowing its accommodation is the end of its purchases of US bonds which is called tapering. The risk off…