Corn Soars To New Contract High with May Nearing $6.00/Bu; Parana Brazilian Corn Ratings Decline on Acute Dryness; C IL Corn/Soybean Basis Strong

 Midday CBT grain & soy futures are sharply higher with corn/wheat pacing the advance on tightening US domestic supplies amid adverse weather. Brazil’s winter corn crop is being hit with a flash drought while cold/dry weather limits seeding across the N Plains/Canadian Prairies. Funds and speculators have been active buyers on the rally. Wheat futures…

A Whiff of Inflation and Dry Brazilian/Plains Weather Rallies CBT To Reclaim Monday’s Losses; New Historical High for Brazilian Cash Corn Prices

CBT grain & soy futures are sharply higher at midday with corn futures pacing the advance on tightening domestic cash supplies amid adverse weather for the 2021 Brazilian winter corn crop. Soybeans and wheat are following corn with volume diminished at midday. There has been a recent trend of active volume on the opening and…

CBT Falls on Speculative Profit Taking in Post USDA Report Hangover; Cash Basis Stout as Farmer Selling Hits the Skids; CBT Low to Form by Early Tuesday?

CBT grain & soy futures are lower at midday on liquidation and technical selling following the lingering disappointment from Friday’s April USDA report. The USDA failed to raise China’s corn import estimate while trimming their annual 20/21 crush rate by 2 MMTs. The lack of confirmation of increased Chinese demand produced a cautious mood from…

WASDE Takes the Feeble Approach in Raising Demand;Leaves Hard Choices to the May 12th Report; Market Turns it Attention to Cash Premiums & Weather

The USDA April Crop Report was broadly neutral to positive for CBOT futures with prices mixed at midday. Amid tightening US and world grain stocks, it appears that everything will be a process for USDA amid the uncertainty of them trying to decipher when demand rationing starts? The grains are higher while soy futures are…

CBT Corn Soars to Test Contract High on Rumors of China demand for US HRW Wheat/Corn; US 20/21 Corn Sales Exceed Crop Year Forecast; WASDE Friday

It has been a bullish morning with corn/wheat pushing to strong daily gains, while the soybean market is being pulled along. Strong cash basis bids and renewed basis pushes from W Midwest ethanol producers rallied old crop corn futures to sharp daily gains. May corn is back testing last week’s post report spike high at…