Wheat Lower/Summer Row Crops Firmer on Fund Covering in Corn/Soybeans; North American Weather Forecast Favorable for 2 Weeks

 Friday’s trade is mixed with corn/soybeans slightly firmer while the wheat market sags ahead of the advancing Plain’s wheat harvest. Trade volume has been better than recent sessions with the July index roll starting at the close – and continuing for the next 5 days. US farmers are rewarding the rally with old crop cash…

Funds Massive Buyers on CBOT Rally on Market Make-Up of Positions: Grain/Soy Fundamentals Bearish with Central US Weather Favorable Next 2-3 Weeks

 CBOT wheat/soybean futures have rallied to sharp gains with corn being pulled along at midday. The euro currency rally occurred as their Central Bank left interest rates at 0% but promised to be a huge buyer of another $600 Bil euros ($672 Mil dollars) through their Pandemic Emergency Purchase Program (PEPP). The PEPP news pressured…

Russian fob Wheat Prices Rising; EIA Ethanol Data as Expected with the US economy Slowly Reopening; Midday GFS Midwest Weather Forecast Favorable

Rising Russian fob wheat and a sharply higher Brazilian Real are two CBOT fundamental price drivers this morning. Funds have been modest buyers of the rally with US farmers starting to increase their sale of old crop corn stocks. With an estimated 50% of the US corn crop to be pollinating by July 14th, the time…

Slow CBOT Midday Trade with Soybeans Rising on China Purchase Confirmation; EU Weather Improves with Rain/Cooler Temps; US dollar Needs to Fall a Lot Farther

Soybeans are higher, wheat is lower with corn caught in-between in midday CBOT trade. Favorable world weather is pressuring wheat values while soybean futures are reacting to China’s return as US soybean purchaser/importer. ARC looks for a mixed CBOT close with November soybean futures running into resistance above $8.70 while July KC wheat uncovers support…

CONFUSION – Is China Retaliating with US Farm Goods? Central US Weather Forecast offers Cooling After June 10th; US Corn Conditions to Improve

CONFUSION – best explains AM CBOT trade with traders/producers trying to decide if China has retaliated against US with a suspension of US farm goods trade? Newswires report that China’s state-run trading firms Sinograin and COFCO have both suspended US soybean/pork purchases, while the US Soybean Export Council suggests otherwise – and that its US…