CBT Bounces with July Leading; Midday GFS Stays with Active Weather Pattern for Central US into July; Brazilian Corn Crop Still in Decline

Turnaround Monday – July Futures Lead on Cash Premiums; Traders Debate Central US July Weather; Following Rain Related Opening Selling, CBT futures were able to recover with July leading the gains as 1st notice day looms with cash markets priced at a premium. July soybeans and soyoil paced the recovery with traders remembering the strong…

CBT Soars as China Starts a New Crop Purchase Program from the PNW; Midday GFS Model Shifts Rain to the E Midwest; West Short Changed

A Bullish Day – Demand Surfaces from China and CBT Grows Horns; CBT futures are sharply higher at midday with new crop corn/soybeans the upside leaders. CBT volume has been more active than Thursday with yesterday’s sellers returning as today’s buyers. Note that CBT markets lack bids and offers under and above the market that…

Midday Model Runs (Still) At Rainfall Odds For Next 10 Days- Which Forecast is Correct? Biden Debates Biofuel Manadate Trim for 2021-2022

Biofuel Miscalculations amid Uncertain Central US Weather. CBT futures are mixed at midday with corn/wheat futures trading stronger while soyoil sags to sharp losses on a Bloomberg wire story that states the Biden Administration is weighing a small cut in the renewable fuel mandates for 2021 and 2022 in a nod to the refinery industry…

CBT Bounces off Early Lows on Drier Midday GFS for Iowa/Missouri & Wetter for Delta; GASC Cancels Tender; NOPA Soy Crush Disappointing

Liquidation on weather! CBT grain futures are lower on the prospect of needed rain occurring Sunday and through most of next week across the Central US. A potential tropical storm should develop in the Bay of Campeche. Unorganized T storms are expected to fester for another 48 hours before starting to move northward on Thursday.…