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…

CBT Falls to Sharp Losses on Fund Selling Amid a Lack of Resting Buy Orders From China;StoneX Yields Out This PM; GFS Wetter for Lake States

CBT futures are sharply lower at midday with corn, soybean and wheat coming under acute selling pressure. November soybean futures fell below the 50- and 100-day moving averages which triggered resting layers of sell stops. The stops pushed November soybean futures back to key support at $13.00-13.10. Corn/wheat followed the complex lower following active opening…

CBT Corn/Wheat Rally Strongly on Fall in Private Brazilian Corn Estimates; GASC Books just 60,000 MTs of Romanian Wheat; Midday GFS Drier

CBT futures are higher at midday as the overnight selling pressure abated. Grain futures rallied sharply which has pulled soybeans higher on China Covid related selling amid the fear of economic slowing. The volume of CBOT trade today is well above late last week as a new month starts.   Wheat has been the CBT…

CBT Sharply Lower on Fund Selling/Profit Taking Ahead of the Weekend; Midday GFS Drier for S MN/IA with Hot Temps After August 4th

AgResource Farm Marketing Advice for Friday: 1/ Corn and Soybean Producers should enter a basis contract and deliver 10% old crop corn/soy against September futures. ARC will advise when to set the CBT price during August. Decatur corn is bid at $1.30/Bu over September futures for FH August delivery. AgResource Midday CBT Comment/Analysis;  CBT futures…