CBOT futures are mixed at midday with soybean futures turning back higher as the early morning break uncovered limited speculative selling. US and South American farmers have virtually shut down their cash selling over the past 2 weeks. And if CBOT futures are to weaken, it must be based on speculative liquidation. ARC notes that…
CBOT futures are mixed at midday with the grains weaker while soy futures hold in the green on threatening South American weather and active US soy product demand. CBOT wheat has been the downside leader on $30/MT Russian export duty rumor, a 17.5 MMTs export quota, with both starting on Feb 15th. ARC cautions that…
CBOT early selling pressure faded with US/European wheat futures sharply higher at midday. The prospect that the Russian Gov’t will be applying either duties, quotas, or a combination of both has world wheat traders jumpy. Russia is the world’s largest grain exporter, and the loss any percentage their exportable supply would push demand to the…
CBOT values have shifted to mixed at midday following the USDA December Crop Report. The report tends to be a nonevent for the marketplace, this year’s report did not disappoint. The pullback in CBOT futures is on profit taking as the USDA did not produce a bullish surprise in the last report of 2020. WASDE…
CBOT values are higher at midday with soybean futures the early upside leader. Corn and wheat futures have been followers, but the tone of the market is more positive than recent days. Traders are looking to secure any intraday breaks. Tuesday’s final CBOT open interest data showed a decline of 25,601 contract decline in soybeans…
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