China selling 20-30 MMTs of old Rice/Wheat Stocks for Feed; Needed Rain for the Driest Areas of Iowa; Short Covering Featured

CBOT futures are mixed at midday with corn/soy futures firm while wheat sags on weakening world wheat fob offers. Bull spreading of Sept/December corn has been active amid steady interior cash corn basis. The Gulf State corn harvest will be starting later this week and the new supplies should start to pressure Gulf corn bids.…

New CBOT Contract Lows Abound in the Grains; US/China Tension Weigh on Price; Midday GFS Forecast Wetter

Rising US/China political tensions and the coming August USDA crop report have pressured CBOT grain/soy futures into the weekend. Funds are large net sellers with amid bearish technical considerations.  September corn has scored new contract low at $3.0725 with weekly chart support noted at $3.00. A test of this support is anticipated next week.  Kansas…

Wheat Falls on Record Hefty Canadian Crop Prospect; Big US weekly Export Sales Totals; Central US Weather is Okay

CBOT values at mixed at midday with spread unwinding/position squaring featured ahead of next Wednesday’s USDA Crop Report. Corn has been underpinned by the liquidation of long soybean/short corn spreads, while the same is occurring in wheat following record large private estimates of 2020 Canadian production. Traders are discussing how big-is-big in terms of US…

Volume Slows on Active Soy/Grain Spreading; US Weekly Ethanol Production Disappoints; China Buys US Soybeans

CBOT values are mixed at midday with soybean futures sagging while the grain markets bounce. The volume of trade is diminished from recent days with spreading the key morning feature. Traders have been unwinding long soybean vs corn and long soybean vs wheat spreads. ARC looks for a mixed CBOT close with December corn trying…