CBOT Corn/Soy Bounce on Cash Firmness and Big Domestic Cash Meal Buying: Midday Argentine Forecast Stays Dry into Feb 15th.

CBOT futures are mixed at midday with corn/soybeans higher on renewed fund buying and talk of active domestic soymeal business this morning. The cash meal market fell near the January lows which saw domestic livestock feeders taking coverage out as far as they were allowed (US crushers limiting forward coverage to May on soymeal with…

Low Volume CBOT Decline Argues that Break is Correction on Momentum Fund Selling; Cash Market Tightness to Led Corn/Soy Higher into March/April

CBOT futures are lower at midday on renewed liquidation. Mexico booked a couple of US corn cargoes overnight that was announced by USDA/FAS this morning, but otherwise, the tone of the market is one of profit taking. Several day corrections in bull markets are normal and needed for technical refreshes. Few will want to be…

CBOT Declines as China Corn Sales Announcement was NOT Offered; January US Soybean Exports Record Large; No Sign of US Soybean/Corn Rationing

CBOT futures are lower at midday as China did not show up as securing additional US corn which left the market in profit taking mode. Corn, soy and wheat futures have retreated as bulls need to be fed every day and the market was in need of a correction (following last week’s gain). The bears…

China Books 2.1 MMTs of US Corn – Largest US Daily Corn Sale Since October 1989! Southern Brazil Stays Wet

CBOT futures are mixed at midday with corn/wheat higher while soybean futures trade violently on both sides of unchanged. Soymeal futures retreated to test last week’s low on active oil/meal spreading. ARC Research expects that March soymeal will hold $420/ton support on active US meal export loadings and that March soybeans has solid support below…