Sunday Commentary

CBOT Slightly Higher To Start the Week;Focus on Where the US Rains Fall?

Jul 16, 5:40 pm | Sunday Commentary

** AgResource Pre Opening Sunday Market Calls: Soybeans 1-4 cents higher, corn 1-2 cents higher with wheat called 1-3 cents higher.    ** Sunday Weather & Market Comment Discussion: Opening week CBOT calls are slightly higher as the Central US weather forecast is warmer/drier than what was offered last Friday. However, the extended forecast offers some moderation in temperatures, but still not much rain for the Plains or the SW Midwest and Delta. Thus, it’s a difficult opening week call with funds securing their largest weekly amount of soybeans on record through Tuesday and holding a record net long position in KC wheat. We doubt that it is a gap-and-go kind of start the week that has been enjoyed in…

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