CBT Corrects Thursday’s Gain on Profit Taking into 3 Day US Weekend; Russian Floating Export Taxes are Complicated; Frost/Wind in S America

CBT futures are lower at midday in a corrective session following Thursday’s sharp rally. US and world importers/domestic end users used the Tuesday/ Wednesday break to add to their forward length while the bulls need adverse weather to push their stance next week. The CBT ends the week with sort of a stalemate with the…

CBT Recovers as Rumors Abound that China has purchased US Old Crop Corn; Record $1.50/Bu Margins for US Ethanol Producers in December

CBT futures fell to sharp losses in early day trade on leftover liquidation of stale long positions in corn/soybeans. July corn tested $6.00 and December corn reached $5.00 before active commercial buying emerged. That end user buying has rallied corn/soybean futures sharply off the morning lows. July soybean and July corn futures are higher at…

Fund Selling Pounds Corn to Lowest Price Since April 21st; China Rumors of Corn Rolling Unfounded; Midday GFS Shifts Plains Rain Southward

CBT futures are sharply lower at midday amid favorable Central US weather with managed money selling out a portion of their long position. Corn, soybean, and wheat futures are pushing to the downside with July corn pacing the decline. July corn futures fell below last weeks and the late April low to trigger a host…

CBT Tries to Recover on Firming June/July Corn basis; GASC Secures 240,000 MTs of August Romanian Wheat; Midday Forecast South with Rain

Slightly lower are CBT futures at midday in thinning volume. Corn, soybean, and wheat futures have pressed the downside on nonthreatening Central US weather forecasts. The 2021 US corn, soybean and winter wheat crops are off to a solid start with spring seeding progressing on a timely basis amid a lack of extreme heat. And…