CBOT futures are mixed at midday with corn higher while the soybean market sags to test $12.50 while wheat prices drop along with Paris futures. Fund managers are adding to their net short soybean position via the charts while cash rumors abound that China is back asking for US SRW Gulf wheat offers. China appears…
CBOT futures are mixed at midday with soybeans/soymeal higher while corn/wheat and soyoil trade in the red. Soyoil futures have been pushed to sharp losses on the ongoing oil share unwind. December soyoil is back to testing $50-52 cent chart support, a level where the rally started back in June. Corn, wheat, and soybean futures…
The overnight CBOT grain rally did not carry through to the upside and follow the sharp rise in world energy prices. The bio crops of corn/soyoil have come under the most selling pressure at midday. Soyoil futures have fallen to fresh lows for this decline as corn has retreated 3-4 cents from like gains overnight.…
A far larger than expected September US non-farm payroll gain of 336,000 has helped to pressure CBOT grain futures. The heady September payroll gain and upward revision of more than 100,000 jobs in August showed that the US economy is hanging tough, despite rising interest rates. The October unemployment rate of 3.8%, was up .1%…
CBOT grain markets are higher at midday with corn reaching above its 50-day moving average for the 1st time since July 28th. Wheat futures have pushed to new weekly highs on the news that the Russian Gov’t pegged their 2023 wheat crop at 90 MMTs following a Rosstat stocks report that showed less than expected…
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