CBOT Higher on South American Weather and Strong US Export Sales; US Dollar Under 92.00 Support

CBOT futures have rallied to end the holiday shortened week on concerning South American weather and stronger than expected US weekly export sales with no sign of Chinese cancelations of prior US soybean purchases. US wheat futures have been the upside leader as Egypt’s Thursday GASC tender did not reflect any weakness in non-US wheat…

CBOT Futures Ease on First Notice Day December Liquidation; Midday South American Weather Dry for N & C Brazil; US Weekly Ethanol Grind Increases

 December long liquidation ahead of 1st notice day and sloppy cash markets are producing lower CBOT trade at midday. Corn/wheat futures are providing the downside leadership while January soybeans pulled back from $12.00 resistance for the 4th time. Cash fob basis bids are steady in Brazil with traders assessing the recent and upcoming hot/dry weather…

CBOT Futures Recover Most of Overnight Losses; Wheat Futures Rise on Spread Unwinding; Brazilian Dryness Extends into December 5th with Heat

** New AgResource Speculative Advice: 1/ Exit 2 December Chi wheat at $6.08 or   better. CBOT futures are mixed at midday with wheat higher while corn/soybeans recover from the overnight profit taking. Threatening South American weather and the latest ENSO reading showing a strengthening of La Nina in the Equatorial Pacific have combined to…

CBOT Cautiously Higher on Adverse Brazilian Weather; Rains are Immediately Needed With Soy/Corn Crop Estimates in Retreat; US Dollar Index Bounces

CBOT futures are higher at midday with the market backing off a portion of their overnight gains. January soybean futures have been unable to rise above $12.00 for the 3rd time in the past 10 days. Corn/wheat have followed soybeans to the upside in moderate volume. The Brazilian drought continues to garner the attention of…

Jan Beans Unable to Rise above $12.00 2016 Top & Corrects; Northern Brazilian Weather Unusual & Threatening to Yield; Soyoil Close to Key Future Direction

CBOT futures are mixed at midday with corn, soybean and wheat slightly higher. The market corrected on a profit taking and risk off ahead of a weekend amid expanding Covid infections that will grab news headlines. The only CBOT market that is in the red is soyoil on meal/oil spreading and the EPA RIN report…