CBOT Sells Off Early on Potential Argentine Strike Settlement Tuesday: Commercials Buy the Early Break; Argentine/S Brazilian Weather Warm/Dry

Fresh US daily export sales of soybeans, corn and soyoil could not counter fund selling tied to the likelihood that Argentine Gov’t intervention will resolve the 19-day stevedore/crush strike. Soybeans and soymeal have endured the most fund selling amid the halting of new cargo switching to the US Gulf. Wheat futures have sagged on corn/wheat…

Argentine Port and Crush Strike Could Last into 2021; GFS Model Shifts Argentine Rainfall Chances West Next Week; China Booking US Corn/Soy Again

  Soybeans/soyoil have paced the CBOT rally while wheat sags in the Christmas Eve Day trading session. The volume of trade has been curtailed by the coming holiday and the fast-approaching end of the year.  Just 4 trading sessions remain in 2020 and fund managers are not willing to take more risk. However, fund managers are…

New Highs Amid a Lack of Farm Selling and Need for Rationing; China Wheat Same Price as Corn; Argentine Weather Forecast Stays Wetter for Next Week

The CBOT is sharply higher at midday. Corn and the soy complex have scored new contract highs with the wheat market reversing overnight losses on fresh buying. The holiday looms, but based on the volume at the CBOT, few would imagine that Christmas is just 36-48 hours away. CBOT volume is active today on a…

CBOT Recovers Overnight Losses (and More) in Soybeans; Argentine Dryness Lingers into New Year; No New Argentine Talks Planned for Striking Workers

CBOT summer row crop futures have recovered from the overnight (mutated) virus jitters with dryness across Argentina and S Brazil in focus. Soybean and meal futures have scored new contract highs while soyoil sags in relation to the $2/barrel fall in crude oil futures. The corn market crawled back to unchanged with wheat in tow.…