A retest of the highs in Chicago wheat along with fresh rally highs in corn has lifted CBOT futures at midday. Algo trading systems are reacting to the news story on Reuters that China could issue new rounds of TRQ import licenses for future purchases of world corn. No one has any idea on the…
Fresh rally highs in corn/soymeal/soybeans have underpinned the CBOT this morning. An early break uncovered fresh fund buying as speculative longs continue to pile into new length. Soy crush spreads are blowing out to the upside as world soybean end stocks tighten and cash product basis bids rise. Brazil is virtually out of soybeans while…
Fresh rally highs in corn, soymeal and KC wheat have underpinned the CBOT this morning. Fund flows remain to the buy side with new demand noted across the floor. Yet, the volume of CBOT trade has declined from the opening. The tone of the CBOT is becoming apprehensive as demand led bull markets need to…
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 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,…
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