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…

Crude Oil Decline Builds Pressure on US Biofuel Firms; Additional Closures/Slowdowns Feared; Russian Quota A Headline Risk Affair; US Dollar Strong

CBOT grain futures are mixed at midday. US wheat futures have rallied on news of the Russian export quota proposal to President Putin by the ag ministry of 7.0 MMTs from April through June. Corn/soybean futures have retreated on the potential of reduced world demand due to the dramatic slowing of the US economy. Although…

CBOT Weakens on Bio Fuel Demand Concern; Volume Slows with Traders Await March 31st Stocks/Seeding Report

CBOT grain futures are mixed at midday with soymeal and back end soybean futures are firmer, while the remainder of the board is slightly lower. CBOT open interest is declining each day and trade volume remains restricted by Covid-19 uncertainty and work at home orders in key states. Traders are just not expanding their risk…