CBT Retreats From Opening Gains On Profit Taking; Midday Confirms Rain for the Dakotas Next Week; Additional US Sorghum Acres via FSA

CBT futures are higher at midday with active end user and fund buying noted following the opening. US funds/traders react to the USDA data in real time following the report, but Asian and European traders catch up in the day following. With European markets now closed for the weekend, its back to domestic US end…

USDA Surprisingly Bullish on US Corn/Soy Yield Adjustements; East Did not make up the Difference for West Losses; Seasonal Lows set in July

 The USDA August Crop Report was bullish with US corn/soy yields falling below trade expectations. NASS pegged the US corn yield at 174.6 BPA, a decline of 4.9 BPA from trend with soybeans at 50.0 BPA, a drop of .8 BPA from trend. The smaller yield produced an immediate rally in CBT futures with December…

CBT Recovers with Wheat/Soybeans the Upside Leader; CONAB Cuts Brazilian Corn Crop to 86.6 MMTs – Down 6.5 MMTs from July

The morning CBT trade has been mixed with soybeans/wheat rallying while the  spreading of wheat/corn and soybean/corn has kept corn under pressure. The volume of CBT trade is picking up from recent days as traders position for Thursday’s August USDA report. Few are willing to add to risk, but end users are hopeful for a…