Few Buyers Willing to Chase CBOT Rally; Funds Square Positions Ahead of April WASDE; CME Livestock Futures Bid Limit as Extreme Volatility Persists

Midday CBOT values are mixed in better volume with short covering the feature in corn/soybeans with funds reducing some of their market risk in long wheat ahead of Thursday’s USDA April Crop report and the coming 3-day weekend.  A mixed CBOT close is forecast following the midday trend. Traders do not want to chase strength…

Corn Sinks on Slowing Domestic Demand; Soybeans Waiting China While Wheat Watches Black Sea Weather – The Need for Rain!

Midday CBOT values are mixed in slow volume with few traders wanting to add to their risk profile in a holiday shortened week amid the big unknowns of coronavirus and world energy prices. CBOT brokers report limited trading interest with corn sliding on US ethanol capacity shutdowns and negative feeding margins. CBOT wheat traders are…

CME Livestock Markets in Panic with Limit Losses; May Corn Drops Below Support at $3.32; US Ethanol Industry Shutters on Margin

Midday CBOT values are mixed with summer row crop futures lower while the wheat market is trying to hold in the green. The volume of trade is active with funds piling into a larger net short corn position while liquidating accumulated soymeal length. ARC looks for a weaker close in corn/soy while wheat tries to…

Trump Brokers 10 Mil Barrel/Day Crude Oil Cut from Russia/Saudi?; China Buyer of US Ag Goods Last Week; Fund Managers Add To Short Corn

Midday CBOT values have tried to rally on rising energy values. US corn and soybean futures have recovered on the hope that US Pres Trump has brokered a deal for a 10 Mil barrel/day reduction in Russian and OPEC production. Russia is saying that it has not talked with Saudi Arabia which pulled crude oil…

NASS Surprises with 97.0 Mil Acres of 2020 Corn; Market Tries to Bounce Post Report; Midwest Spring Planting Weather Now in Focus

** NASS/USDA March 1st US Stocks/Seeding Analysis: The reports held something for everyone – actually, some bullish and some bearish for each of the primary US grains and soybeans.   March 1st US corn stocks were bullish while 2020 US corn seedings were bearish, US 2020 soybean seedings were bullish, while stocks were bearish. And in…