The October USDA report was mildly bullish with NASS trimming both planted and harvested acres for US corn and soybeans. NASS pegged 2020 US corn planted acres at 91.0 Mil acres with harvested at 82.5 Mil acres, both were down 1 Mil acres. In soybeans, NASS pegged US soybean seeding at 83.1 Mil acres/harvested at…
CBOT futures are lower at midday following an early round of fund buying. Wheat futures paced the morning decline which pulled corn/soy futures lower into midday. CBOT grains are on a big run to the upside and traders are anxious to book profits ahead of the key USDA October Crop Report due Friday. Funds are…
CBOT futures are strong at midday with only a moderate decline from the opening high. Volume and fund buying are active with corn, soybeans and wheat each scoring a new rally high. November soybean futures have reached $10.5975, December corn $3.92, with December Chi wheat at $6.115. In the case of wheat, this is the…
CBOT values are sharply higher at midday with rumors of fresh Chinese soybean purchases and another round of massive fund buying. The sharp CBOT rally comes as a surprise with the USDA October Crop Report due out on Friday. Normally in the gut slot of harvest, the marketplace would be more passive as cash pipelines…
CBOT wheat values are higher at midday with KC leading the advance. The world wheat market has pushed into a more dynamic bull phase based on SW Russian dryness (forecast to persist for 2 weeks). In weather bull markets, premium is added early and late in the week with a normal midweek sag. Â Summer CBOT…
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