CBOT Grains Bounce on Short Covering and the Hope for Expanding US Gasoline Consumption; Brazil and Argentina Struggle with Covid-19

 Low volume & mixed is the CBOT at midday. The grains are bouncing from Thursday’s selling while soy futures trade either side of unchanged with soymeal back under pressure on sliding livestock feed margins. Livestock feeders – facing large losses – can feed a lower cost protein ration to help offset a modest portion of…

CBOT Mixed at Midday in Uninspiring Volume; GASC Secures French/Russian Wheat/China hinting that it will Soon Restart Corn Reserve Auctions

 Mixed has been the morning as CBOT futures trade either side of unchanged. The wheat market gave up early gains as Egypt secured French and Russian wheat for late May/June shipment, while the soybean market is trying to reach price levels that stimulate Chinese interest for US soybeans. Bull spreading has been noted in corn…

CBOT Tries To Bounce Following Positive NOPA Crush Report; EIA Data Shows 45% of US Ethanol Industry Shuttered; Chi wheat at 50 Day Moving Average!

CBOT ag futures at midday are weaker as US ethanol production declined to a fresh low amid record large stocks while fund sell stops were triggered as Chi July wheat fell below their 50-day moving average at $5.395. A close below the 50 day moving average will spark additional fund selling with seasonal price trends…

KC Wheat Futures Forming Double Top?Livestock Futures Limit Down on Reduced Weekly Kills; GFS Model Too Wet at Midday for MO/IL

CBOT midday values are mixed with corn/soy futures weaker while KC wheat futures are slightly higher. CBOT volume has been restrained as traders debate future Midwest 2020 spring seeding progress. CBOT corn/soy prices are sinking on declining US ethanol/feed demand, while KC wheat is trying to follow the increase in interior Russian flour prices. ARC…