Corn futures softened up last week as better weather started to appear on intermediate-term forecasts. This is undoubtedly good news for what is in the ground, but there is still an enormous amount of uncertainty regarding how many acres got in the ground.
Corn futures and soybeans continue slow summer trade. The weather in grains premium did not show up overnight. China talks Monday.
Corn futures and soybeans continue to chop around as participants wait for new news to give the market a new direction. We would not be surprised to see the market hold bid into the weekend where we may get weather premium and trade talk premium.
We aren’t holding our breath for a trade deal but acknowledge that continuing talks is a good thing and a deal will be done at some point, even if that means years from now.
Selling pressure persisted in wheat as harvest pressure continues. Crop Progress report out.
Corn futures finished last week’s trade in the red as better weather lessens the concerns of yield loss for what is in the ground.
The Commodity Futures Commission's weekly Commitment of Traders gives a snapshot view of how Leveraged Funds and Managed Money is positioned in US Futures and commodity markets. These are typically hedge funds, CTAs, CPOs and various types of money managers.
Improving weather forecast triggered a technical breakdown in yesterday’s session. Soybeans were the surprise of the day, rallying off of technical support on little new news.
The grain markets continue to be trade off of the ever-changing weather forecasts, keeping volatility alive and well. As stated in previous reports over the last week, both the bulls and bears will have days of vindication in the coming weeks and months.
Grain futures see choppy market with weather trade.