All Members: Morning

Lack of News Produces a Bounce at CBOT

Feb 22, 6:50 am | Morning Commentary

 ** 6:30 AM CST CBOT Prices: March soybeans are up 2.50 cents at $10.2875,  March corn is up 1.50 cents at $3.7025 while March Chi wheat is up 1.50  cents at $4.375. ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT corn, soybean and wheat futures are slightly higher in overnight trade in modest volume. Just over 11,000 contracts of March corn and March soybeans, and nearly 8,000 contracts of March Chi wheat have changed hands. Following 3 days of selling pressure, the CBOT is trying to bounce ahead of the USDA’s Annual Outlook Forum that starts on Thursday in Washington DC.   CBOT open interest declined on Tuesday as traders start to liquidate March futures ahead of the 1st…

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CBOT Catches a Bid With Limited Fresh News

Feb 21, 7:14 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are up 5.50 cents at $10.38,  March corn is up 1.00 cent at $3.6925 while March Chi wheat is down 2.00  cents at $4.39. ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT corn, soy and wheat futures were mixed overnight. Soybean trade volume was large at just over 30,000 contracts in March futures, while the volume in the grains was more routine with just over 18,500 contracts of corn and just over 8,000 contracts of wheat changing hands.   Chinese speculators were the reason behind the CBOT rally as Dalian corn and soybean futures bounced. Why Chinese speculators desired to return to grain and soy futures on overnight is unknown? Some…

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CBOT Retreats Ahead of a Long US Weekend

Feb 17, 7:02 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are down 7.50 cents at $10.365,   March corn is down 3.00 cents at $3.705 while March Chi wheat is down 3.75  cents at $4.44.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT corn, soybean and wheat futures were lower overnight as bearish technical considerations and weakening world grain/oilseed prices pressured valuations. The CBOT will be closed on Monday for the US President’s Day Holiday and most bulls do not want to the take on additional market risk ahead of a long holiday weekend.   The volume of overnight trade expanded to over 18,000 contracts in March corn, over 25,000 contracts in March soybeans, and over 7,900 contracts in March Chi wheat….

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CBOT Relaxes Overnight; Awaiting Fund Managers in the Day Session

Feb 16, 6:43 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are down 5.00 cents at $10.565,  March corn is down 1.25 cents at $3.775 while March Chi wheat is down .50  of a cent at $4.5425.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT corn, soybean and wheat futures are mostly lower in overnight trade. The slightly lower trade has become commonplace in recent days as the market retreats amid a lack of speculative buying. Fund managers position themselves during the day session. In fact, some wait for the old CBOT opening time of 9:30 AM CST!    CBOT open interest totals surged again with Wednesday’s rally. Corn open interest was up an astounding 53,403 contracts, soybeans were up 9,647 contracts, soyoil…

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China Flu and Expanding Brazilian Harvest Pressure CBOT

Feb 15, 6:36 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are down 2.50 cents at $10.425, March corn is down 1.25 cents at $3.73 while March Chi wheat is down 1.50 cents at $4.48.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Mostly lower has been the overnight CBOT trade, but some modest firmness was noted up until the opening of the Chinese futures market. Chinese corn and soymeal values continue to sag on a worsening outlook for avian flu.   The volume of overnight trade has slid from early week levels. Just over 12,000 contracts of March corn, just over 13,000 of March soybeans, and just over 5,500 contracts of March Chi wheat have changed hands.   Preliminary CBOT open…

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CBOT Correction Coming as Funds Slow their Buying Spree?

Feb 14, 7:18 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are down 3.50 cents at $10.5075, March corn is down 2.25 cents at $3.7325 while March Chi wheat is down 4.25 cents at $4.48.  ** AgResource AM Grain & Oilseed Comment:Good Morning & Happy Valentine’s Day! CBOT corn, wheat and soybean futures were lower overnight in a corrective trade of recent gains. Fund buyers are normally absent in the overnight session, but emerge in the normal day time trading hours.   The volume overnight has been solid once again. Over 22,000 contracts of March corn, and over 16,000 contracts of March soybeans, and over 8,000 contracts of March Chi wheat have changed hands.   Preliminary CBOT open interest totals from Monday reflect the…

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CBOT Lower to Start Week, But Chinese Cash Meal Demand is Stout

Feb 13, 7:15 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are down 6.50 cents at $10.525, March corn is down .50 of a cent at $3.74 while March Chi wheat is down 2.75 cents at $4.4625.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Mostly lower has been the overnight CBOT trade in active volume. March soybeans have traded over 21,000 contracts, March corn over 28,000 contracts and March Chi wheat over 11,000 contracts. These volume totals are some of the best in weeks suggesting that current prices offer sales opportunities for producers, while supportive charts is enticing new speculative buying.   China soymeal prices continued to rise to start the week. The most active May Dalian soymeal futures contract rose…

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CBOT Mixed As Traders Assess S American Weather and Demand

Feb 10, 7:23 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are up 4.50 cents at $10.55, March corn is up .50 of a cent at $3.6975 while March Chi wheat is down 1.0 cent at $4.425.  ** AgResource AM Grain & Oilseed Comment: Good Morning! The overnight CBOT trade has been mixed in thinning volume. Soybeans have paced the rally with excessive rain again reported across Argentina, while wheat futures sag as fund short covering slowed. Corn has been caught in between as traders prepare for the weekend. Nearly 10,500 contracts of March corn, and nearly 13,500 contracts of March soybeans have changed hands, well down on recent days.   CBOT open interest totals reflect that corn fell 4,988 contracts, soybeans rose…

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CBOT Slightly lower on CONAB; China Meal Prices Rise

Feb 9, 7:10 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are down 5.50 cents at $10.5325, March corn is down 1.0 cent at $3.6975 while March Chi wheat is down 2.0 cents at $4.305.  ** AgResource AM Grain & Oilseed Comment: Good Morning! Slightly lower has been the overnight CBOT trade as values sag on the profit taking ahead of the USDA Crop Report due out at 11 AM CST. Traders are expecting a positive USDA report with US corn end stocks to decline (better ethanol demand), while US 2016/17 soybean and wheat stocks hold steady.   CBOT open interest totals from Thursday reflect that corn surged 24,351 contracts and soybeans 2,435 contracts, while wheat sagged 1,374 contracts.   Brazil’s CONAB estimated…

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CBOT Awaits USDA/CONAB on Thursday

Feb 8, 6:38 am | Morning Commentary

** 6:30 AM CST CBOT Prices: March soybeans are up 8.25 cents at $10.51, March corn is down .5 of a cent at $3.6775 while March Chi wheat is down .75 of a cent at $4.30.  ** AgResource AM Grain & Oilseed Comment: Good Morning! CBOT prices are mixed with soybeans maintaining their “rally mode” while the grain markets trade quietly on either side of unchanged. The USDA February crop report looms for tomorrow morning with CONAB’s Brazilian crop estimates out beforehand.   The volume of overnight CBOT trade has improved with over 14,000 contracts of March corn, over 20,000 contracts of March soybeans, and over 5,000 contracts of March Chi wheat changing hands.   CBOT preliminary open interest was…

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