CBOT corn, soybean and wheat futures fell sharply on Monday on long liquidation based on the hope for better rain across some of the drier areas of N and C Brazil next week. The bulls had become frustrated with the inability of January soybean futures to push above $12.00 and with the new prospect of…
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…
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…
** 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 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…
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