CBOT Debating July Weather Pattern Amid Rumors that China May Issue TRQ Grain Import Licenses; Brazilian Winter Corn Harvest 8% Completed

Mixed with little direction is the CBOT at midday. Corn/soybean futures are firm at midday with wheat futures trading lower in Chicago and little changed in KC. The CBOT lacks direction with no new Chinese demand announced this AM, and rumors of new Chinese purchases lacking. China is asking for offers on a host of…

GASC Books 240,000 MTs of Russian, Ukraine, Romanian Wheat; Midday GFS Adds Rain to E Midwest Forecast; US Corn Export Sales Slow On Competition

Choppy with little direction are CBOT values at midday. The elevated prospect of rain for the Plains/Midwest over the next 2 weeks is capping rallies while the uncertainty of the July weather pattern & future US export demand (China) is underpinning breaks. Heading into the weekend, ARC Research doubts that the bulls/bears will be able…

Unable to Sustain Early Break, CBOT Bounces in Modest Volume; Central US Weather Favorable Next 2 Weeks; China Interest for US Soybeans

It has been a mixed morning of CBOT trade as heavy opening selling in soybeans and soymeal did not uncover follow through. December corn tested Monday’s low with a fund buying 4,900 contracts in a minute bringing values back to unchanged. Wheat prices are lower on the ongoing massive fund selling. Wheat open interest rose…

CBOT Sags on Favorable Central US Weather; NOPA Crush Report Mixed with Better Domestic Soyoil Use; European Weather Model Update Coming in July

CBOT futures are red at midday with Minneapolis wheat holding near steady. It appears that Central US weather is directing CBOT price direction with needed rain to fall across the Midwest/Central Plains/Delta later this week (and into early July). An early sharp decline in the US stock market offered a bearish tailwind. But that changed…