Another Putin/Erdogran Wheat Corridor Meeting, USDA Report Ahead; GFS Wetter Nearby; Drier Longer Term CBOT futures are mixed at midday. The summer row crops of corn and soybeans are holding stout while wheat futures sag. The volume of CBOT trade is down from prior days amid the USDA July Report which will be released tomorrow.…
China Rumors, Employment Report, and Forward US/EU Weather Forecasts. CBOT futures are sharply higher with the grains leading the bull parade. China is rumored to be seeking additional wheat in Australian and Canadian markets, while still asking for US offers from the PNW. And pre TRQ demand from private buyers in US corn is ongoing.…
US Grain Demand Rumors, Russian Export Doubt and Crude Oil Recovery. CBOT grain futures are sharply higher at midday in a recovery of the lashing of prior trading days. Improved US export demand, strong domestic biofuel margins and concerning Central US weather forecasts have combined to lift CBOT values. Wheat has paced the recovery with…
AM Rally Failed on Additional Macro Economic Selling! Midday GFS Forecast Warmer/Drier CBOT grain futures are under pressure at midday with an early rally effort failing amid new selling in the energy markets. WTI spot crude oil futures have fallen another $3.00/barrel to $96.00 which pulled a host of raw material markets lower. CBOT grains,…
The Sky is Falling! CBOT futures are sharply lower at midday with corn, soybean and wheat falling to double digit losses as a host of asset classes are in freefall. The US DOW has lost another 700 points amid growth/recession worry while crude oil has fallen to $98/barrel, down a sharp $9.00. Whether it be…
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