Commodity Index The CCI/CRB is pushing upwards against the late 2019 highs. A weaker US dollar and massive inflow of speculative capital into agriculture futures has occurred in the past 6 weeks. The ag rally has helped keep the CRB against the 2019 highs, even with metal and energy markets stagnating. A weekly close…
AgResource Pre Opening Sunday CBOT Price Calls; Soybeans 2-4 cents lower, corn 1-2 cents lower with wheat futures called 2-3 cents lower. Weekend Weather and CBOT Market Discussion: Opening week calls are slightly lower. The rest of the world will react to Friday’s USDA October Report that showed stability in US corn/soy yields from September…
Commodity Index The CCI/CRB surged to a new rally high surpassing $420 key resistance as a fall in the US dollar along with a rise in ag and energy futures pushed the CRB to its highest level since January. The only remaining resistance rests at $426- the late 2019 high when an influx of funds…
Commodity Index The CCI/CRB consolidated within last week’s price range as raw material and equity markets caught their collective breath heading into the US November election. The late summer rally spurred by a decline in the US dollar, a flash Midwest drought and a risk-on appetite has slowed. Consolidation is forecast with an important USDA…
Commodity Index The CCI/CRB fell sharply on the week and confirmed a seasonal high at 420.00 – which was a retest of the pre Covid-19 high of January. Grain, metal and energy prices paced the decline based on a rising US dollar. A flight back to safety is noted ahead of the US November 3rd…
