CBOT grain futures are mixed at midday. Trade this morning has been a; “Tale of two markets”. CBOT grain futures were sharply higher overnight on the Russian’s ending of the Black Sea Grain Initiative. The news sent CBOT futures on algo buying related to the headline. The rally persisted into the 8:30 AM reopening with…
CBOT grain futures are mixed at midday as headlines and weather forecasts clash. Selling emerged after the 8:30 AM opening that Turkey’s President Erdogan and Russian President Putin agreed that the Black Sea Grain Corridor should stay open. This news produced a sharp CBOT selloff as the bulls banked short term profits heading into an…
CBOT grain futures are sharply higher at midday with soyoil/soybeans pacing the advance. Corn and wheat futures have followed in the wake of July USDA crop report as the market’s focus shifts to weather/yield and the sharp fall of the US dollar. The volume of CBOT trade is average with brokers suggesting that new money…
CBOT grain futures are sharply lower at midday following a bearish USDA July Crop Report. WASDE decided to cut the US corn yield to 177.5 BPA (down 4.0 BPA) due to record dry May/June but held their soy yield at trend at 52.0 BPA. Although not a surprise, the trade was estimating 2023/24 US soybean…
CBOT grain futures are mostly higher at midday with soybeans/soymeal pacing the advance while soyoil futures correct Monday’s rally to new rally highs. Wheat and corn prices have sagged from a strong opening as Midwest rains and forecast uncertainty regarding Central US heat in late July is being debated by traders. Russian/EU wheat prices are…
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