CBOT Sags on Harvest Pressure/Profit Taking Ahead of the September 1st Stocks and Finale Small Grains Report; Argentina to Relax Soybean Export Tax?

CBOT prices are lower at midday with corn, soybean and wheat futures weaker on fund liquidation heading into the end of the month. China did not show up as a buyer of US soybeans or corn overnight. Increasingly, traders believe that China has most of their September-January purchase book is in place (85-90%). Chinese crushers…

Grains Rally on Wheat Bull Story on Russian Dryness/Australian Frost and Dryness; US Soybeans Sag on Better Yield Reports and Dry Midwest Forecast

CBOT prices are mixed at midday the grains reversing early losses with wheat pacing the rally. December corn test key support at $3.60 and reversed while KC December wheat bounced from trendline support at $3.70. The volume of CBOT trade has been better than expected with active profit taking noted in Long soybean/Short corn and…

Mixed CBOT Grain Trade in Diminished Volume; Harvest Hedge Pressure to Balance Against Ongoing Dry N Brazilian/SE Russian Weather Forecasts

 CBOT prices are mixed at midday with corn/soybeans trading firmer, while wheat futures sag. Volume totals are down from recent days as traders struggle to balance dry South American and Russian wheat against slowing Chinese demand for US corn and soybeans. Neither the bulls nor the bears have much conviction at midday. A mixed CBOT…

Soy Complex Extends Losses; No Daily Export Sales Announcement for First Time in 2 Weeks

AgResource Farm Marketing Advice for Thursday: 1/ No new advice. CBOT price action since this AM’s opening has been varied. Corn and soybeans values have extended declines while wheat finds modest buying near Dec CBOT’s 50-day moving average. Russian dryness will persist into at least October and the need for soaking rain thereafter will be…

CBOT Softens Awaiting Another Week of Large US Soybean/Corn Export Sales to China; Midday GFS Adds Rain for Ukraine and W Russian in 1 Week

CBOT midday grain trade is mostly lower with soyoil pacing the decline on fund long liquidation amid the acute weakness in palmoil prices in recent days. The corn/soybean markets have been largely followers of the soy product values while December soymeal pushes to a new rally high against $350/ton. Funds have been sellers of Chicago…