USDA Offers a Yawner for the March WASDE; Brazil & Argentine Soybean Crop a Combined Record Large 180 MMT’s; DOW Gives Back Early Gains

USDA March Crop Report Analysis: The March USDA Report is normally non-inspiring and today’s report followed without any surprise. The CBOT is unmoved following the report and price direction will go back to focusing on the macro markets and potential slowing of the world/US economic outlooks. WASDE left 2019/20 US wheat, corn, soybean end stocks…

CBOT Falls Along With US Equity Markets on Covid-19 Fear; China Books US sorghum & DDGs For Summer; Russia Backs Out of OPEC Deal

CBOT ag futures are lower at midday in thinning volume as traders shed risk. After an extremely volatile week of trade in equity and commodity markets, traders are shedding overnight and weekend risk – amid the uncertainty of Covid-19. China is said to be making purchases of US pork, sorghum with interest but no confirmed…

CBOT Soybeans Sink- Form Bearish Reversal on the Charts; Chi Wheat Bounces on Wet OH Valley Forecast: China Issues Reduced Duty Ag Licenses

CBOT ag futures are mixed at midday in a reversal of Wednesday’s action, summer row CBOT futures are weaker while the Chi wheat market bounces. The volume of CBOT trade is subsiding as traders deal with the extreme volatility of world equity markets and the unknown economic impact of coronavirus.  The DOW fell to 800-point…