CBOT Eases As China Demand Bulls Rest Ahead of Lunar New Year; Argentine Dryness Worrisome; US Export Sales Sparkle

   CBOT corn, soybean & wheat futures are lower at midsession as China is starting to celebrate their Lunar New Year Holiday and traders are less fearful that Chinese buyers will step forward with new purchase orders. Soybeans have been the downside leader with open interest for the week rising a net 35,000 contracts –…

CBOT Mar Corn Breaks $3.92 Resistance; Brazilian Soybean Crop of 127-130 MMTs?; Weekly Export Sales Report Friday

CBOT corn, soybean & wheat futures are mixed at mid-session with March corn able to rise above $3.92 resistance – the December and early January highs. Wheat values have traded either side of unchanged while a potential record large Brazilian soybean crop weighs on soybeans.  The volume of trade was active on the opening but…

Wheat Retreats from 4 Year High; Actual China Demand Awaited as Fund Managers Adjust Their Positioning; Argentine Dryness into February 1

CBOT corn, soybean & wheat futures are mixed at mid session with wheat pulling back after scoring a new 4 year high! The wheat decline is profit taking following March’s flirtation with $5.90-6.00 resistance.   ARC notes that Chi wheat open interest since the start of the year has risen just over 100,000 contracts as new…