GASC Secures 295,000 MTs of Russian Wheat, EU Wheat Seen as Overvalued; China turning Back to Brazil for February/March Soybeans

CBOT values recovered from early political selling related to US President Trump’s comment that he could live without a US/China trade deal until after the 2020 US election! The potential for another year of an escalating US/China trade war produced broad selling across the US equity and commodity markets.   And US Commerce Sec Ross indicated…

Early CBOT Grain Rally Fails as Soybean Futures Fall to New Lows; Trump Tariffs Brazil/Argentine Steel/Aluminum while Argentine Forecast Turns Wet

CBOT values are mixed at midday with corn futures higher while soybeans/wheat sag in moderate trading volume. A fund put on a package of long corn and short soybean spreads on right after the 8:30 AM CST reopen that pushed March corn futures above its 20-day moving average. This sparked some additional short covering in…

Grains Soar on a Lack of Selling in Holiday Shortened Trade; US Weekly Export Sales Report Supportive; CBOT Close Early at 12 Noon CST!

Holiday thinned volume has sparked a sharp short covering rally in corn/wheat heading into a new month. Funds were active grain buyers from the opening bell as there were no deliveries against December futures. Short term, the market shifted its focus away from the oversupplied world market (with no deliveries)  to the historically high Midwest…

Funds Return to Selling Ways Amid Friday’s 1st Notice Day in December CBOT Futures; Argentine Ag Forecast Remains Parched

AgResource will not produce a PM wire due to the US Holiday. AgResource  will return on Friday with our AM wire. Have a Blessed Thanksgiving and   all be safe over the coming holiday.   CBOT futures could not hold an early trade optimism rally as fund selling returned. Fund managers are following existing bearish trends until…