Market Closes – June 25, 2015

CBOT futures closed sharply higher on huge short-covering by the speculative funds. As futures break through chart resistance levels and wet weather/forecasts portend declining crop condition ratings on Monday, there’s less selling interest. The July Options on grains and oilseeds expire tomorrow so...

Market Closes – June 24, 2015

CBOT futures closed mostly lower after trading higher in the morning. Prices broke from the day’s highs after 12:30 pm CT. Soybean, soymeal and wheat contracts finished near the day’s lows. Soybean oil futures closed strongly but well off the highs set around the pit opening. Traders may become cautious...

Market Closes – June 23, 2015

CBOT futures closed mixed with corn and wheat closing strongly higher against a steady soybean market. This price action trimmed a little off the Bean/Corn ratio. Soybeans opened higher Monday evening but drifted lower overnight, fell abruptly when the pit opened at 930 am CT, then climbed around a dime off...

Market Closes – June 22, 2015

CBOT futures closed higher with about 2 percent gains in corn, wheat and soybeans. Fund buying was responsible for much of the rally as traders expected crop ratings to drop in this afternoon’s report. Both corn and soybeans lost 2 points in the Good/Excellent category. Slow soybean planting, especially in...

Market Closes – June 19, 2015

CBOT futures closed mostly lower today. Except for KC Wheat, futures mostly finished mid-range or lower. Soybean futures traded inside Thursday’s wide ranges. Today the resistance offered by the down-trending channel I mentioned yesterday held July soybeans in check. Monday’s crop condition ratings and...

Market Closes – June 18, 2015

CBOT futures had a mixed close with soybeans and soybean meal performing the strongest. Soybeans supported corn and wheat early but those markets eventually turned down. Wheat closed near the day’s lows. Soybeans are being supported by unplanted acreage and wet conditions, as well as a strong cash basis;...

Market Closes – June 17, 2015

CBOT futures closed higher on continued fund short-covering amid the heavy rainfall forecasts in the southern Corn Belt. Soybeans are the market leader due to unplanted acreage. All three commodities started strong, but corn and wheat turned lower by mid-morning even as soybeans moved higher. At the close,...

Market Closes – June 16, 2015

Soybean futures closed strongly higher on short-covering due to concerns that some acreage won’t get planted and that excessive rainfall this week could hurt. Soybean futures erased the cumulative losses from the past four trading days. The soybean rally also supported corn and wheat futures. With wheat in...

Market Closes – June 15, 2015

Crop futures were under pressure from generally favorable growing conditions in the Corn Belt (the Southeast is under a High pressure blocking rainfall). Soybeans did manage a near steady close on concerns that some acreage won’t get planted in a timely manner. A developing tropical system in the Gulf of...

Market Closes – June 4, 2015

CBOT futures closed higher, and near the day’s highs, except for soybean oil. Futures edged higher overnight and then accelerated upwards when trading reopened at 830 am CDT. News reports blamed wet forecasts which could damage wheat and keep corn/bean acres from reaching their potential. The spec funds...

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