News that the Russians were not going to more restrictive on 2020/21 export volumes pulled CBOT futures lower from a sharply higher CBOT opening. Wheat paced the AM decline as Russia will keep exporting wheat at elevated prices. The €50/MT ($1.65/Bu) Russian wheat export duty will be signed and applied on March 1st, but this…
CBOT futures are mixed to lower at midday with the markets trying to recover from their 3-day correction. Speculative excesses have been curtailed as March corn fell below $5.20 and March soybeans reached near $13.50 as short-term momentum funds sold out a portion of their long holdings. There has also been rumors that Chinese traders…
CBOT futures are weaker at midday with US wheat futures giving back its early gains as the Russian Prime Minister has not yet signed the new €50 euro duty proposal from the Economy Minister. The debate has left Black Sea Russian wheat exporters guessing as to what the Gov’t is considering? Sources tell ARC that…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. CBOT futures are mostly lower at midday with corn, soybeans and wheat enduring profit taking ahead of the 3-day US weekend. The CBOT will be closed on Monday for the Martin Luther King Holiday. The volume of CBOT trade has tailed off as China and…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. CBOT futures are higher at midday with the grains pacing the advance. This is the last day of the Index Fund Rebalance – which has come and gone – without much of a bearish influence on the CBOT. Active volume/selling has been noted during the…
