Rising CBOT prices amid concern for South American weather is the theme at midday with corn, soybean, and wheat futures all in the green. US non-farm payrolls jumped 379,000 in February, a larger than expected gain showing strength to the US economic outlook. As a larger share of the US population is vaccinated, confidence in…
Following a disappointing FAS weekly US corn, soybean and wheat export sales, traders turned their attention to South American weather and a likely decline in Argentine/Brazilian soy/corn production due to too much rain across N Brazil and too little across Argentina/RGDS. Moreover, rumors of China buying Brazilian soybeans and rising Asian vegoil values pushed CBOT…
The CBOT is in reverse at midday with corn, soybean, and wheat futures lower with the market taking back most of Tuesday’s gain. The fear of another week of slow US export sales on Thursday along with the inability to extend Tuesday’s rally has left the CBOT in sort of price direction limbo. Both the…
A CBOT turnaround is underway with corn, soybeans and wheat futures recovering from Monday’s decline. Adverse South American weather and talk of increased Chinese pricing of soybean/corn purchases has sparked the CBOT rally. China has locked down a considerable cache of Brazilian soybeans (estimated at 35-37 MMTs) and US corn (estimated at 19.0 MMTs including…
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…
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