CBOT Soybean/Corn Sags on Chart in Low Volume Trade; China Soy Crush Margins Return to Best Levels in Years; Wheat Rallies on Elevated Winterkill Fear

Never Sell a Low Volume Break in a Bull Market! Midday CBOT futures are mixed with wheat futures soaring while corn/soybean futures ease lower in limited volume. At midday (and including the overnight trade) just over 56,000 contracts of March soybeans and just over 52,000 contracts of March corn have changed hands. This compares to…

Wheat Paces Decline as Tuesday’s Buyers are Wednesday’s Sellers; WASDE Unlikely to Offer Bearish New Crop Balance Sheets; Argentina Forecast Stays Arid

It has been a mixed session at the CBOT with corn/soy futures trading both sides of unchanged while wheat has retraced yesterday’s gain. CBOT midday volume has been modest with China and most of South America still out for holidays. For today, the sagging wheat has been a bearish catalyst for the summer row crops,…

Slow Volume CBOT Midday Trade; Wheat Bounces on Bitter Cold Plains Weather while Corn/Soy Stagnates Awaiting South American Harvest Data

CBOT values are mixed at midday in a reversal of Thursday’s trade with wheat futures higher while corn/soybeans sag on profit taking ahead of a long US weekend. Traders are loath to take on new risk ahead of the 3-day US weekend with Chinese buyers off on their Lunar New Year Holiday and cash trade…