Wet Midwest Forecast Adds Concern for Additional Midwest Prevent Plant Acres and Drags on Corn/Soybean Yield

** CBOT corn, soybean and wheat are adding weather premium for future US supply losses. July corn has rubbed up against Wednesday’s high at $3.80 with futures carving out a key reversal. Wheat/soybeans have followed amid new end user pricing and managed money short covering.   Funds have covered an estimated third of their CBOT short…

Ag Market Rallied Slowed but Intact; GFS Stays Wet Though May 31

CBOT ag futures have largely sustained the overnight rally, though after funds bought/covered an estimated 45,000 contracts of corn, 22,000 contracts of soybeans and 10,000 contracts of Chicago wheat, new buying has slowed somewhat. ARC also mentions that RSI has recovered substantially and quickly in spot corn and wheat. However, markets won’t break in the…