Market Closes – February 10, 2016

Corn and soybean futures closed steady to slightly lower. Markets were pressured by yesterday’s negative USDA supply-demand reports from rising ending stocks forecasts. Corn was hurt by increased ethanol production and record-high ethanol stocks. Chicago Wheat posted gains as funds covered short positions;...

Market Closes – February 5, 2016

CBOT futures closed moderately lower today, confirming the negative price chart action discussed yesterday. Futures remain above some critical support levels (January lows) but don’t have much downside room before possibly triggering more selling by the speculative funds, who reportedly were sizable...

Market Closes – February 4, 2016

Despite a second day of weakness in the US Dollar, CBOT futures closed lower, with the worst declines coming in wheat markets. The weekly export sales report was disappointing for soybeans and wheat; soybeans were a net negative due to export cancellations. Market reports indicate wheat and soybeans had...

Market Closes – February 3, 2016

Even on a day when the US Dollar collapsed (down 1.7%) and crude oil futures soared, CBOT futures were mostly lower on spec fund selling. Weighing on corn futures was a private forecast for higher Argentinean corn production. Increased rain in Argentina pressured corn and soybeans. Cattle futures closed...

Market Closes – February 2, 2016

CBOT futures closed higher, led by the soy complex. Corn and soybean futures traded to new highs and new high closes for 2016. Market support came from significant fund buying covering short positions. Today’s price action occurred even as the stock and energy markets fell sharply. There wasn’t any...

Market Closes – February 1, 2016

CBOT futures closed lower with bigger losses in wheat, which would have been even greater if not for a 2-cent pop in the final minutes of trading. Corn and soybean futures closed near the day’s highs. Although a weaker US dollar was supportive today, the sharp drop in crude oil futures and negative Chinese...

Market Closes – January 29, 2016

CBOT futures closed strongly higher despite a much stronger US Dollar. The US Dollar surged one percent today, erasing all of the dollar weakness posted the first 4 days of the week. It’s only one percent from the 12-month high posted in early December 2015. Other outside markets were supportive as energy...

Market Closes – January 28, 2016

CBOT futures closed lower, led by the soy complex after traders learned that China cancelled a US soybean export order of 14 million bushels. Business should transition to Brazil as harvest picks up. March Soybeans closed below the sideway trading range in place since January 13 and also below the 50-day...

Market Closes – January 21, 2016

CBOT futures reversed yesterday’s price action. Corn closed lower with wheat/soybeans posting small gains. Corn was pressured when the EIA reported a large build in ethanol stocks. The funds were reportedly selling corn futures. CBOT futures were much stronger during the morning before losing significant...

Market Closes – January 20, 2016

CBOT futures closed mostly lower under pressure from the outside markets. Corn managed a penny gain, supported by a few corn export sale announcements the past week. Generally, CBOT futures are weighed down by plentiful supplies and good crops in South America. The 1:00 pm closing prices for cattle were down...

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