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…

China Buys at least 8-10 Cargoes of US Soybeans – They’re Back! ; Midday Central US Weather Forecast Drier and farther south with Rain

CBT futures are slightly higher at midday with KC wheat/CBT corn offering the upside leadership. Soybean futures rallied initially on the Chinese pricing of 8-10 cargoes of new US soybean buying before futures volume subsided. FAS/USDA announced another 2 cargoes of US soybeans sold to China, which offers additional confirmation that China is back securing…

CBT Drops with the Wetter Midday GFS Forecast with Rains for IA/IL; Russian Wheat Yields Disappoint; Canadian Canola Reverses early Loss

CBT futures are mostly lower at midday in mediocre volume. StoneX’s lower yield projections has failed to spark much new buying interest, while weaker crude futures have weighed on CBT soyoil. A larger than expected build in US crude inventories has reduced bullish energy market momentum at $74 per barrel, basis spot WTI crude. Concern…