Market Closes – December 19, 2014

CBOT futures closed steady to sharply lower. Wheat futures moved lower throughout the day as traders tried to lock in profits ahead of the weekend. The “Russian export restriction” story appears to have been worn out as traders realize that the rising US dollar makes our wheat less competitive. Soybean...

Market Closes – December 18, 2014

CBOT futures closed higher. Soybeans and meal found support from the weekly export sales report for soybean products. January Soybeans are in a minor downtrending channel; $10.60 is a key resistance point to negate a November-December downtrend. Wheat moved to new highs overnight as traders were more...

Market Update – December 18, 2014

CBOT futures are up slightly with wheat once again performing best. The day’s highs came overnight when crude oil was also moving up sharply. However, energy futures have reversed and are posting losses. This seems to have weighed on CBOT futures as well. Weekly export sales were mostly in line with...

Market Closes – December 17, 2014

CBOT futures closed higher with wheat soaring on technical buying which started with continued concerns Russia will limit exports. Corn and soybean futures were little changed even as funds were reportedly net buyers. Soybean futures are weighed down by ideas the South American bean crop is getting bigger...

Market Update – December 17, 2014

CBOT futures are higher across the board with wheat again leading the market. Futures have rallied in tandem with a strong rise in energy and equity markets. Underlying fundamentals haven’t changed. Livestock futures are down sharply as the Feeder Cattle contracts are all down the $3.00 daily limit (for...

Market Closes – December 16, 2014

CBOT futures closed mostly lower and below the midday quotes. Wheat soared early on technical buying but closed well off the highs on profit-taking. Underlying support comes from ideas that Russia will restrict grain exports in some manner due to its economic problems and collapsing currency. The volatility...

Market Update – December 16, 2014

CBOT futures are following the same pattern seen Monday – lower beans, steady corn and soaring wheat. The surge in wheat futures to new highs for this fall’s rally accelerated on technical buying as resistance gave way. As Russia’s currency crashes, there’s increased risk it will restrict grain...

Market Closes – December 15, 2014

The CBOT saw closing prices from sharply higher in wheat to moderately lower in soybean futures. Wheat benefited from good export shipments last week, the bullish momentum from Thurs/Friday’s strong rally, and concerns Russia will limit its wheat exports. Spec funds are reportedly still short CBOT Wheat...

Market Update – December 12, 2014

Corn and wheat futures are sharply higher on a rally that launched at 4:30 a.m. CST. Soybean futures tried to follow corn/wheat higher but lost all of the gains mid-morning before rising again. The 4:30 am timing of the rally indicates the stimulus was a key news item. It’s reported that China may have...

Market Closes – December 11, 2014

CBOT futures closed strongly higher with wheat being the best performer at day’s end. The funds were reportedly buyers in all 5 key commodities. The midday selloff was short-lived with corn and wheat futures rising into the closing bell. Soybean futures saw gains ease as the markets closed. Poor soybean...

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