Market Closes – May 18, 2015

CBOT futures closed higher but well off the day’s highs which were set around 10:30 am CDT for corn and wheat, but early morning in soybeans. Corn and wheat futures closed the trading day with gains shrinking. Wheat performed best with short-covering boosting the price on fears of frost or freeze damage in...

Market Update – May 18, 2015

CBOT futures are nearly all higher lead by sharp advances in wheat caused by short-covering and new buying related to unfavorable weather. The southern Plains have gone from drought to excessive wetness in areas which may degrade the quality of the upcoming harvest. The Dakotas are threatened by frost or...

Market Update – May 15, 2015

CBOT futures are mostly lower. Futures traded higher overnight but have mostly been moving downward since sunrise. Corn, beans and meal are near the day’s lows; wheat is 3-4 cents off the bottom. Outside markets are slightly negative and traders may be taking some profits going into the weekend. Soybean...

Market Closes – May 14, 2015

Wheat futures soared today and lifted corn, oats and rice futures. Aggressive short-covering in wheat futures accelerated as buy-stops were hit when key moving averages were exceeded. Some factors which encouraged buying include concerns that a strong El Nino will hurt Australian wheat production, that...

Market Update – May 14, 2015

CBOT futures are trading mixed with wheat futures soaring on aggressive short-covering. Corn is supported and soybeans are weighed down by this morning’s INFORMA’s updated acreage estimates which suggest less corn and more soybean acres. The wheat rally was supported by recent weakness in the US dollar...

Market Closes – May 13, 2015

CBOT futures closed little changed on the day after trading both sides. The USDA report’s effect has mostly run its course and now traders are watching weather forecasts, planting progress, and the US$ value. The large spec funds can move the markets if they push hard in one direction. The specs are record...

Market Update – May 13, 2015

CBOT futures are mixed with some reversal of Tuesday’s price direction. Corn is holding steady as prices sit near critical chart support. Wheat is lower, unwinding some of Tuesday’s rally that probably wasn’t warranted by the USDA reports. Soybeans are up slightly but downside risk is not far away....

Market Closes – May 12, 2015

Following the USDA WASDE Report at Noon EDT, CBOT futures made some major moves. The most significant factors appear to have been the 2015/16 Ending Stocks estimate of 500 million bushels and a larger-than-expected World Ending Stocks estimate of 96.2 mmt for 2015/16. July Soybeans quickly dropped 13 cents...

Market Update – May 12, 2015

CBOT futures are trading mixed following the Noon EDT release of USDA’s WASDE Report. Initial reaction is weighing the soy complex down, but lifting corn and wheat futures. World soybean stocks will grow from 85.5 mmt to 96.2 mmt in 2015/16. 2014-15 End Stocks Today’s USDA Average Trade...

Market Closes – May 11, 2015

CBOT futures closed mostly lower but by small amounts ahead of Tuesday’s midday USDA report updating forecasts of supply-demand factors for 2014/15 and 2015/16. Fast planting progress for corn and soybeans along with recent rainfall are weighing on prices. Friday’s CFTC report for positions early last...

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