CBOT Rallies on the Hope For China Demand Under Phase 1; DOW up 600 points on the Hope for World Bank Intervention; Monday – A Day of Hope!
CBOT ag futures are widely mixed at midday with the summer row crops firmer, while the wheat market sags amid a lack of fresh export demand and fund long liquidation. Funds continue to liquidate net wheat long positions with values well under key 50-and 100-day moving averages. ARC notes that US ag markets are hopeful…