Market Closes – September 22, 2014

CBOT futures closed lower under pressure from harvest progress, dry weather, China economic concerns, and weaker outside markets (equities, energy, Treasury yields). All but soybean oil hit new contract lows.  Corn and wheat futures climbed off the lows during the day session. Today’s USDA Crop Condition...

Market Update – September 22, 2014

CBOT futures are trading lower with the biggest losses in the Soy Complex. General pressure comes from excellent harvest weather and concerns about China’s economy slowing –note the sharp drop in equities, energy futures and Treasury yields. Disappointing US home sales weighed on the market. Soy...

Market Closes – September 19, 2014

Corn, wheat and soybean futures closed sharply lower and at/near the day’s lows as harvest activity picks up and the US dollar resumes its move higher after yesterday’s 1-day setback. December Corn broke to a new contract low; unfortunately, chart support depends on the nearby continuation chart with...

Market Update – September 18, 2014

CBOT futures are lower and near the day’s lowest price. The US dollar is down .3% but this is just a correction in the long-term trend higher. Nearly all commodities are trading lower today with oil and metals down sharply. Gold hit a new low for this move with next support around $1180 on the weekly...

Market Closes – September 15, 2014

CBOT futures started the day lower as frost damage in the northern states was less than feared. Prices then rallied on some corn and soybean export sales. The strong soybean oil market lifted soybean futures. Soybean oil futures rose last week on a stronger palm oil market; today, the bullish NOPA soybean...

Market Update – September 15, 2014

CBOT futures were trading lower earlier today as the weekend frost in the Northern Plains didn’t materialize to any significant degree. But corn and soybeans have rallied this morning on some export sales and a strong price rise in soybean oil (for a second day). Wheat futures are not bouncing back like...

Market Update – September 12, 2014

Corn and soybean futures are little changed at midday with pressure stemming from Thursday’s bearish USDA reports. Soybean futures are getting support from a sharp jump in soybean oil futures (reacting to rising palm oil price). Wheat futures are falling to new contract lows as U.S. wheat is not...

Market Closes – September 11, 2014

Today’s USDA reports confirmed that the corn and soybean crops could be record large. This weighed on prices and pushed them to new record lows. However, prices closed off the lows with approximately 25-50% recoveries. Average yields are not likely to fall from today’s forecasts but harvested acreage...

Market Update – September 11, 2014

CBOT futures are trading lower following release of the USDA Crop Report and WASDE. While there weren’t any big surprises, USDA’s numbers were mostly larger than the “average guess.” Since most believe that big crops get BIGGER as USDA updates its forecasts, prices are under pressure. This has...

Market Closes – September 10, 2014

Corn and soybean futures were little changed at the closing bell ahead of tomorrow’s Crop Report. Nearly everyone expects USDA crop forecasts to be markedly higher than the August estimates. Wheat futures at all 3 exchanges traded at new contract lows. The Russia/Ukraine situation has reportedly calmed...

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