Market Closes – April 20, 2015

CBOT futures closed mixed with short-covering supporting the soybean and wheat markets. The funds have large short positions in these commodities. The buying was encouraged by news that China reduced bank reserve requirements in order to stimulate their economy and everyone knows of China’s appetite for...

Market Update – April 20, 2015

The two main factors affecting markets today is China’s reduction in bank reserve requirements meant to stimulate their economy and disappointing rainfall in parts of the Plains wheat country. Soybean and soybean meal futures are the biggest ag commodities to benefit from China’s move. But it has also...

Market Update – April 17, 2015

CBOT futures are slightly higher at midday after testing the downside earlier this morning. Again, there’s little news to move prices as farmers look for opportunities to get corn planted. Some progress is being made in the drier, western part of the Corn Belt. Late-week price action has been positive for...

Market Closes – April 16, 2015

CBOT futures ended the day mixed with small price changes, if any. Market news was minimal. KC and MGEX wheat set new contract lows and closed poorly with rains beginning to fall in parched areas of Kansas. The US Dollar weakened during the afternoon; this week, the US$ has unwound a good part of last...

Market Update – April 16, 2015

CBOT futures are reversing part of yesterday’s price movement. Wheat futures broke hard during the first 1.5 hours of trading this morning but then bounced back – new lows were set in KC and MGEX. Overall, there’s little news today to move the market. Rains are about to start in droughty areas of...

Market Closes – April 15, 2015

Corn and soybean futures closed higher on fund buying, supported by a weaker US Dollar, soaring crude oil futures, higher soybean oil prices and a strong crush report. Today’s gains added to Tuesday’s price increases. Wheat futures made significant losses with closing prices near the day’s lows....

Market Closes – April 14, 2015

CBOT futures closed mixed. Wheat futures were pressured by follow-through selling from Monday’s collapse due to increased moisture conditions in KS/OK/TX. Corn and soybean futures finished about 1 percent higher on technical buying with prices very near key chart support levels. A much weaker US Dollar and...

Market Update – April 14, 2015

CBOT futures are trading mixed with corn and soybeans finding some buying with prices near chart support levels. Traders often refer to “turnaround Tuesday” when prices reverse Monday’s price movement. The US Dollar is down nearly 1 percent and that’s supportive, along with higher energy futures....

Market Closes – April 13, 2015

Forecasts for additional rain in the southern Plains started the selling in the wheat market which then spread to the corn pit. But tonight’s wheat condition report showed some deterioration ahead of the rains. The spec funds have been huge shorts in CBOT Wheat and the market is going their way. Continued...

Market Closes – April 9, 2015

CBOT futures closed near steady in corn to much lower in the soy complex. The USDA reports were pretty much in line with average guesstimates. Soybeans were pressured by this morning’s weekly export sales report that showed net cancellations for Old-Crop soybean sales. Soybean meal futures were especially...

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