Corn Futures Bust to Downside on the Charts with December Close below $3.39; Central US Weather Forecast Favorable

Mixed at midday is CBOT trade with wheat and old crop soybean futures being slightly higher while corn prices sag on record large US production potential. The 1% gain in US GD/EX corn conditions to 72% with future condition gains forecast into mid-July has corn prices under pressure. The 2020 US corn crop d has…

Summer Row Crop Prices Sink on Favorable US Weather; China Seeds Confusion on Covid-19 Assurances in Ag Imports

Mixed/low volume is CBOT trade at midday with corn the downside leader while the soybean/wheat markets trade either side of unchanged. Traders are looking for a decline in US corn/soy and spring wheat crop conditions this afternoon. Traders will likely buy the CBOT going home looking for a turnaround Tuesday bounce. How vigorous of a…

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‚Äôs 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…