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…

CBOT Follows Stock Market in Morning Trade; GFS Goes Wetter for Entire Central US after June 18th – Including the Plains.

Passion from either the bulls/bears is lacking with soybeans/wheat trading firmer while corn mixed at midday. The weekend is ahead and with funds still short a sizeable amount of corn and US farmers hoping for higher old crop cash corn bids, the selling pressure has been limited. An unknown destination (likely China) secured additional US…