Market Closes – April 5, 2016

CBOT futures closed mixed in corrective trade. Corn edged higher as it continues to bounce back from the sharp losses posted Thursday in response to USDA’s Prospective Plantings Report. May Corn is 9 cents above last week’s low. Soybean futures dropped one percent on pressure from the losses in soybean...

Market Closes – April 4, 2016

Soybean futures closed lower on pressure from disappointing export shipments last week and fund selling (they carry a large long position). There was little news to drive corn and wheat futures. Traders will closely watch weather outlooks for potential impacts on planting conditions along with the new-crop...

Market Closes – March 31, 2016

CBOT futures closed mixed – to the extreme – all in response to the midday USDA Prospective Plantings Report. Corn futures crashed by over 4% following USDA saying 2016 acreage will be 93.6 million versus the average trade guess of about 90 million (the highest guess was 91.0). The funds reportedly sold...

Market Closes – March 30, 2016

CBOT futures closed lower to sharply lower (wheat, corn) as traders locked in profits ahead of tomorrow’s key USDA reports. Futures headed lower when trade opened at 830 am and just kept dropping and finished near the day’s lows. Also pressuring wheat futures was the extended forecast for rain in the...

Market Closes – March 29, 2016

CBOT futures closed higher, supported by a significant drop in the US Dollar’s value that resulted from Federal Reserve Chair Yellen’s comments that suggest the FOMC will remain “dovish” and not raise interest rates for some time. US equities rallied strongly and Treasury yields fell sharply as a...

Market Closes – March 28, 2016

CBOT futures closed mixed with wheat performing the best, along with soybean oil. Markets moved higher on Sunday evening. Corn and soybeans weakened overnight with the daily lows coming near the 830 am market re-opening. Wheat futures rallied strongly and lifted corn and soybeans. Futures topped out around...

Market Closes – March 24, 2016

CBOT futures closed steady to higher with corn and soybean futures erasing yesterday’s losses. Soybean futures were supported by better export prospects due to troubles in Brazil and continuation of the strength in soybean meal futures (which was up strongly on unwinding of the soymeal/soybean oil spread)....

Market Closes – March 22, 2016

Corn and wheat futures closed near unchanged, but soybean prices gained a nice one percent today. All were higher until mid-morning when prices dropped. While soybean futures recovered to close high-range, corn and wheat did not finish strong. Soybeans were supported by fund buying (they are now long...

Market Closes – March 21, 2016

CBOT futures closed higher with corn ending near the day’s highs. Wheat moved higher Sunday evening when markets opened on concerns that some of the HRW wheat crop had been damaged by freezing temperatures. Corn and soybean futures traded lower overnight but rallied at the 830 am electronic opening as...

Market Closes – March 16, 2016

CBOT futures closed mixed. Corn and soybean futures were down through mid-morning before rallying with closes near the day’s highs. Wheat futures posted modest losses which were near the day’s lows. Soybean oil’s strength relative to soybean meal continued for another day. There’s little fundamental...

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