CBT Recovers After a Morning of Heavy Fund Selling As Midday GFS Takes Out Rainfall for Plains/W Midwest;US Weekly Export Sales Disappoint

CBT futures are sharply lower at midday with funds massive sellers on liquidation. Midday price direction has been student body-left and student body-right – or basically momentum. The market was unable to garner any rally early this week on threatening Central US weather and the bears sensed a chance to produce liquidation. Fund selling ensued…

CBT Corrects AM Gain as Midday GFS is Slightly Cooler with Rain for Iowa in Days 9-11; Central US Ridge Shows No Change into August 4th

CBT futures are higher at midday with corn/soybeans pacing the rally. The wheat market also jumped with Minneapolis September testing its prior contract high set yesterday at $9.445. Threatening Central US weather is the catalyst for the CBT rally as traders can look past Monday’s macro financial market meltdown. A strongly higher CBT close is…

CBT Early Rally Fades on Macro Financial Meltdown; Central US Weather Stays Threatening at Midday; Kazakhstan Moves to Limit Grain Trade

CBT futures are mixed at midday as traders are unwilling to chase an early CBT rally with the US’s macro financial markets in decline. A growth scare being offered by the Delta variant of Covid along with the expectation that US corn and soybean crop conditions will increase led to early CBT weakness. The DOW…