Soybeans Push to Another Contract High; Midday Forecast Has Argy Rains Farthern North; Rebalance at the Close

Midday CBOT soybean/corn futures are higher with wheat holding in the red. Early selling was based on the fear of the index fund rebalance and that includes the selling CBOT futures and buying energies to rebalance commodity allocations on the close over the next 5 days. Traders are looking for selling pressure, but it’s unknown…

CBOT Retreats After Bull Run; Market Holding Better than Bears Expected; China Bidding for US July/August Beans

CBOT soybean/corn/wheat futures are taking a pause from their recent rally on profit taking ahead of Tuesday’s USDA January Crop Report. The CBOT correction was needed following a nonstop rally that started in late 2020 with March soybeans racing to $13.73 (highest price in 7 years) yesterday. Today’s weaker CBOT trade is being called a…

CBOT Soy/Corn Hold Gains at Midday; GFS Model Wetter C Argentina Next Week; US Ethanol Grind Edges Higher

CBOT soybean/corn futures are sharply higher at midday with wheat values mixed on active fund demand and rising world fob markets. The fast approaching USDA January Crop report amid diminished South American crop potential has soy futures pacing today’s gain. Investors are adding to net long positions across the CBOT, but their buying is expected…

Soybeans & Wheat Soar to new 7 Year Highs; Midday GFS Forecast Slightly Drier for Argy; China Buying New Crop?

CBOT futures are sharply higher at midday with corn, soybeans and wheat posting double digit gains. Soybeans joined wheat in posting new contract highs – exceeding Monday’s rally peak. March corn rallied to $4.96 before profit taking and a modest increase in cash connected selling was offered. An inflow of fresh investment funds along with…

CBOT Corrects on Profit Taking & Wetter Midday Argentine Forecast: China Seeking Aug/September Brazilian Corn?

CBOT ag futures are sagging at midday as profit taking and day trade selling which has toppled corn/wheat futures while tugging soybeans back near unchanged. New investment money was put to work overnight which pushed values sharply higher. Profit taking was noted after the 8:30 AM CT reopening. The midday decline is technical in nature…