CBOT Futures Sag at Midday on Fund Long Liquidation; South American Weather Forecasts Threatening; Traders Want Crop Damage Confirmation

It has been a mixed morning of CBOT trade with corn/soybean futures trading on either side of unchanged while wheat sags on large KC wheat deliveries and lackluster US wheat export demand. The new month should produce new investor interest, but with Brazil now exporting 2.5-3.0 MMTs of soybeans/week, the US demand driver has been…

CBOT Month End Selling Pressure is Maintained At Midday; Argentine Weather Forecast Offers Developing Heat; Undelivered US Corn Sales are Massive

Risk off into the end of the trading month is the mindset at midday with corn, soy and wheat futures all under pressure. Gold is off nearly $50/oz while Bitcoin has fallen below $45,000 as is looking at its largest weekly loss since when the US pandemic started in March of 2020. The US dollar…

Spot Soyoil Soars to Chart Target at $.51 March on Massive 10,000 Contract Plus Fund Buying; US Corn Ethanol Grind Plummets; Brazil Harvest Gains Speed

Soyoil Futures Score Fresh 9 Year Highs with March above $.50 Sharply higher CBOT soyoil futures have been the theme of day as the oil/meal spread pushed out to a new rally high. Soyoil’s long held upside price target of $.51-.52 was reached in March futures this morning. Traders will be closely monitoring how March…

CBT May Soybeans Test Contract High Against $14.30 on Fund Buying; South American Weather Forecast Consistent; Brazilian Soy Products Below US Gulf

Money Managers Pile into New Soybean Length on Chart Pattern Sharply higher CBOT soy futures is the keynote of the morning with May soybeans seeking to test contract highs in the lower $14.30’s while soyoil pushed to another new contract high at $49.27. Fund managers have piled into new soy length based on a bullish…