CBOT values are mixed at midday with soybeans lower while the grains trade either side of unchanged. The selling in soybeans is based on China’s absence as a US buyer this week ahead of China’s biggest political gathering of the year in Beijing. The worry is that China hawks could prevail in political discussions (about…
CBOT wheat values have surged on a combination of fund short covering amid rumors that the 2020 Russian wheat crop may only be as large as last year. This may raise pressure on the Gov’t to maintain an export quota system for the new crop. A 2020/21 export quotas would make the EU dryness much…
Midday CBOT values are mixed at midday with spread unwinding/covering dominating the morning. Corn has been the short leg of most spring spreads with covering noted of long soybean/short corn and long wheat/short corn positions. The covering has pressured soybeans and KC wheat, while corn futures have been able to bounce – even in the…
Midday values are mixed with soybeans firmer, wheat lower and corn caught in between. The CBOT appears to be trading technicals (charts) with fresh fundamental news lacking ahead of a pending long US 3-day weekend. Funds have been sellers of wheat/corn while securing modest amounts of soybeans/soyoil. The volume of trade is diminishing at midday.…
CBOT values are mixed at midday in thinning volume. Oats have rallied to near parity with corn (last time this happened was in 2014) while soybean and wheat futures chop either side of unchanged. A large order selling 3,300 contracts of Chicago wheat dropped futures 5 cents at 9:50 CT. But, otherwise it’s difficult to…
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