Tepid Volume Produces Modest CBOT Midday Bounce; EU Monthly Weather Forecast Lacks Heat/Dryness for Midwest Summer; Crude Oil Tests $25/barrel

Slow/mixed with limited interest best describes midday CBOT price action. Corn, soybean and wheat futures have not changed much from the 8:30 AM CT opening with a new US soybean sale to China and corn sale to Mexico offering only background support. Traders will be watching closely to see if China steps up their US…

CBOT Corn/Soy Weaken on W Midwest Seeding Progress; Funds Are Not Big Sellers on the Decline; Less US Fracking Spells Higher US Natural Gas Prices

CBOT grain/soy futures are mixed at midday with the wheat market trying to recover as July KC wheat futures hold their 50-day moving average. Corn and soybean futures are weaker on active planting progress in the W Midwest and the hope that planters will roll in the next 10 days across the E Midwest. And…

CBOT Prices Sink in Thinning Demand; Traders Stay with Bearish Bets with Bear Spreading Featured in Soybeans; US Meat Packers Trying to Reopen

CBOT grain/soy futures are lower in opening trade with early short covering offering early support while a lack of ongoing China demand offers resistance. Exporters tell ARC that Thursday’s US soybean purchases were crushers – not the Gov’t that would have started on a reserve buying program. Whether China starts reserve buying program is not…

China Books 6-8 Cargoes of US Gulf Soybeans; China issues 1.5 MMTs of New Corn Import TRQ’s; Black Sea Rain Prospects Improve for Next Week

CBOT grain and oilseed futures are higher at midday on the wet weather across IL and rumors that China has been buyer of US August/September soybeans. Also, China has issued another 1.5 MMTs of TRQ’s for corn imports from world exporters. The Chinese demand and wet portions of the E Midwest is catching the market…

Wheat Close Today To Key Thursday Price Action; EIA Report Shows Modest Drop in Production; Black Sea/European Weather Offers Improved Rain

Fund selling is pushing CBOT/French wheat futures lower amid the prospect of rain for a broad area of the EU/Black Sea starting late in the weekend and for the next 10 days. KC July is holding just above its 50-day moving average at $5.755, while July Chi wheat futures are below all key moving averages…