Wheat Uncovers Fund Selling at Midday; Commercials Doubt China Soybean Purchase; IA/IL Weather Forecast Wetter

CBOT values are mixed to mostly lower with wheat leading the bearish charge. The increase in the 2020 Russian crop size has deflated the bull’s enthusiasm with funds back to their selling ways. Soybeans tried to bounce, but commercial traders argue that this morning’s old crop sale to an unknown destination was not to China…

CBOT Slow/Dull With China Not Showing Interest for US Soybeans; Central US Weather Favorable into Mid August with Rains Returning to N Midwest

CBOT markets are mixed and listless at midday. Corn futures are little changed while soybeans/wheat are holding in the green. Funds are dressing up their large net long soybean position into the end of the month while not worrying too much about corn (which is grinding lower against contract lows). Few traders desire to add…

CBOT Corn Fails to React To China 2 MMTs Corn Sale; Central US Weather Forecast Favorable and Big Crop Discussions Dominate Trading

CBOT markets are mixed at midday with soybean/corn and wheat/corn spreads being unwound. The volume of trade has been limited with a 2 MMTs sale of US corn to China not sparking any excitement. Traders appear to be unwinding long anything vs corn and there is a weak under-tow to midday valuations.  ARC looks for a…

CBOT Corn Futures Falling to Test Contract Lows at $3.22 Basis December; Wheat Rises on Brazilian Demand for US HRW; Midwest Weather adds Rain for IA

CBOT markets are mixed this morning with wheat holding in the green while corn/soybeans sag on favorable Central US weather and rising yield potential. USDA/FAS did not announce any new Chinese purchases of US soybeans – for the 2nd day in a row. It appears that China’s buying has slowed since late last week with…

CBOT Sags on Record Large US Corn/Soy Yield Debate; China Pricing 2-4 US Soy Cargoes; GASC Secures 470,000 MTs of Black Sea Wheat – Most Since ’18

CBOT grain markets are lower at midday on rising US yield estimates. Debate is widespread as to how big-is-big in terms of corn/soybean yields, but the trade won’t fully know until the September NASS crop report. Remember, the August NASS report only queries US farmers on their yield expectations; but following recent rain/mild temperatures, most…