Corn/Wheat Spread Unwinding; Positioning for W Midwest Storms Thursday/Friday. CBT futures are mixed at midday with corn and soybean futures lower while wheat hangs in the green on curtailed North American supplies. Spread trade has been active with the July/December corn spread pushing out to a new rally high at $1.31 July premium while soyoil/soymeal…
CBT Mixed at Midday; The Battle of Condition Ratings vs Wet Weather for Illinois, Indiana and Missouri. It has been a broadly mixed and thinly traded morning of trade. July contracts continue to outperform on the upside amid the lack of supply that is producing premium cash markets. The July/Dec corn spread has gained a…
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…
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…
Risk off and Uncertain Central US Weather. CBT futures are sharply lower at midday as funds take risk off the table. Soybeans, soyoil, corn and even wheat futures are sharply lower on the prospect of Central US rains and a firming US dollar. Gold has dropped more than $90/oz to best reflect the “get me…
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