Market Update – April 22, 2014

CBOT futures sold off after the pits opened at 930 am CT, bottomed mid-morning and are rebounding from the lows.  Current prices are mixed with the soy complex under pressure.  Corn is finding support from the corn planting progress reported last night by USDA that was far slower than traders expected. The...

Market Closes – April 21, 2014

Grain and oilseed futures closed lower on ideas that weather is/will improve to allow for corn planting and improvement in winter wheat conditions.  Futures sold off aggressively until around 10:30 am CT and began to recover from the lows around 11 am.  Wheat futures did not bounce off the lows as much as...

Market Update – April 21, 2014

Good weekend corn planting progress and rains in the Plains are weighing on futures. Soybeans were higher Sunday night but weakened overnight until 830 am trading began with a sharp drop that continues to grow deeper, as does the losses in the corn and wheat pits. Note the May Corn broke below the 4.95...

Market Closes – April 17, 2014

CBOT futures closed mostly lower going into the 3-day weekend.  Warmer weather should increase corn planting although rainfall is expected to be above normal.  Soy futures dropped on fund selling as traders took profits.  China’s apparent cancellation of soybean imports suggests some caution is...

Market Update – April 17, 2014

Corn and soybean futures traded higher overnight but have been selling off during the morning trade.  Soybeans hit new contract highs before reversing lower. Traders may be lightening their positions ahead of the 3-day Easter weekend. There’s more talk of China defaulting on nearby soybean imports. ...

Market Closes – April 16, 2014

Tonight’s 6-10, 8-14 day NWS outlook shows above normal temperatures east of the Rockies. Above normal rainfall is expected from the central Corn Belt down through central Texas. Visit NWS site. CBOT futures moved sharply in opposite directions as the soybean bulls, including spec funds, charge ahead in...

Market Update – April 16, 2014

CBOT futures are trading mixed like most of Tuesday, with old-crop soybeans performing the best. Corn futures are down on ideas that near-term weather is going to help corn planting advance. Ethanol prices have been dropping this month as supply concerns wane.  Wheat futures are now weaker on lack of...

Market Closes – April 15, 2014

The early morning strength in the soy complex was supercharged at 11 am CT when NOPA released a bullish, better-than-expected soybean crush report – 153.8 million bushels crushed in March is a record high for this month and exceeded average trade guesses at 146 million.  Once the nearby May contract...

Market Update – April 15, 2014

CBOT futures are mixed with old-crop soybean and meal contracts posting strong gains from the ongoing tightness in U.S. supplies until 2014 harvest. Futures have been somewhat volatile this morning as traders try to figure out what factors are most important – such as freeze damage to wheat, cool soil...

Market Closes – April 14, 2014

CBOT futures closed strongly higher on fund buying as rising tensions in the Ukraine concern traders, as does the slow beginning to corn planting, which this week’s cold weather will not improve. Tonight’s sub-freezing temperatures in the central Plains could damage some wheat. Today’s wheat ratings...

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