Corn futures

January soybean futures were making a push higher into the final hour of trade but hit a snag when reports from Washington said “US-CHINA TRADE TALK HIT SNAG OVER FARM PURCHASE”.
Corn futures were softer to start the week as market participants continued to digest Friday’s delayed WASDE report. The delay provided a pop from algo buying but was short-lived as participants realized it wasn’t a bullish report.
Corn drifted lower yesterday on another lackluster export sales number, 487,900 metric tons. This was up from the 4-week average and within the range of expectations, but the bull camp NEEDS to see....
Oliver Sloup breaks down the trading day before WASDE report in grain futures markets.
The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.
Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.
December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent.
January soybeans were under pressure in the first half of last week’s trade on the cancellation of this month’s global summit in Chile, due to protests in Santiago. Both sides seemed hopeful that they would have been able to sign a Phase 1 deal at the summit.
Chicago wheat took a hard hit yesterday, much of what was likely technical selling. Export sales yesterday morning came in at 493,800 metric tons, up 31% from the 4-week average.
January soybean futures were a laagered yesterday as optimism around a phase-1 trade deal diminished after the Summit in Chile was canceled, due to protests in Santiago.