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…

Big May/July Corn Spreading of 60,000 contracts Plus Before 1st Notice on Thursday, Rumors of Trump Invoking National Defense Act for US Meat?

CBOT prices are mixed at midday with wheat being firmer, while the summer row crops – corn and soybeans sag. The volume of trade has been rather active with funds are on the sell side from the opening bell. ARC looks for a mixed close with the market having a heavy feel in corn, soymeal…

CBOT Sinks on Active Central US Seeding Pace and Demand Destruction via Ethanol; Russian Wheat Values Start a Decline as Export Demand Fades

CBOT corn/wheat futures are mostly lower while the soy complex has traded both sides of unchanged. The grain markets continue to struggle with demand destruction on biofuels and feed margins, while wheat values are lower on sagging Russian fob values following the filling of their quota system. Any longs in the old crop Russian cash…

CBOT Sinks on New Ethanol Production Cuts; Brazilian Real to Record Low vs USD; Brazilian Farmers Seeing Record Prices/Margins on 2021 Soybeans

Ag markets are weaker at midday on fund selling and the continued concern over demand destruction in ethanol and livestock feed margins. US old crop corn and soybean end stock estimates are growing, and no world importer wants to pay the $.85/Bu premium for old crop Black Sea or European wheat vs new crop bids.…