CBOT Higher at Midday in Slowing Volume; Momentum Traders Press Upside Risk; Russian Wheat Fob Values Steady

CBOT wheat futures rallied to new highs at $6.3825 December Chicago on news that Sudan is working on pact to secure 1.0 MMTs of US wheat through US Gov’t financial assistance. The US Sudan financing is being worked on with the country mired in an economic crisis that is causing acute food shortages. The financial…

CBOT Firm on Strong World FOB Cash Market; Russia Hints at a Policy to Hold 2-4 Months Wheat for Domestic Millers

CBOT futures have been back-and-forth with profit taking pushing wheat to trade both sides of unchanged while corn/soybeans hold in the green. The volume of trade has been strong with fund interest key to buy the early day break. Prices are rising at midday with wheat prices turning back higher. In demand led bull markets,…

Chi Wheat Pushes to New Rally High; Soy Sags Without China Soybean Sales Announcement; Brazil to Lower Import Tariffs

CBOT futures have been back-and-forth with the overnight’s trade bull leader – soybeans – becoming the morning’s doggish drag. Soybean futures are lower at midday on the lack of new Chinese demand confirmation while rain looks to accelerate Brazilian soybean seeding in the days ahead. South America is primed to produce a record soybean crop,…

Wheat Leads CBOT Rally on Reduced Chance of Russian Precip; Energy Markets Struggle on Lack of Demand

AgResource Farm Marketing Advice for Thursday: 1/ No new advice. Row crop futures have shrugged off early weakness, with wheat extending its overnight rally, as money continues to pour into the ag space. November beans are again flirting with a slight premium to January. Dec CBOT wheat’s premium to March has narrowed to just $.02/Bu,…

CBOT Mixed at Midday With Fresh US Corn/Soy Sales to China Supportive; GFS offers Dry Weather for C Plains

Midday CBOT futures are mixed with new US corn/soybean sales to China providing the early bullishness for the summer row crop futures. The fresh China buying caused bull spreading in Nov/March soybean futures while lifting December corn back futures to resistance at $3.95-4.00. Wheat has spent the morning lower with rain forecast for the Plains…