Futures got off to a lower and slower start this morning. By the close, futures narrowed the basis in the spot month and firmed the rest of them.
Barchart’s machine learning forecast models are predicting record corn yield, 189 bushels/acre, and record soybean yield, 54 bushels/acre.
Grain and livestock futures were pretty universally higher in Wednesday’s trade. How much upside potential is there?
Taking a look at what is happening in the markets as we enter the last half of July.
Corn prices are steady to 2 cents higher at midday. There was some net new buying on Tuesday, with open interest up 7,011 contracts (mostly December). Overnight buying was tied to derecho wind damage...
All three wheat contracts are higher at midday, but a bit off of the morning highs. Chicago futures are up 6 to 8 cents per bushel. Kansas City contracts are up 6 to 10 cents. MPLS spring wheat futures...
Soybeans are down 3 to up 7 cents around midday on Wednesday, with old crop bids well supported but new crop under some pressure. Soybeans had closed higher on Tuesday. by 1 ¼ to 12 1/2 cents. CME...
Our three reads on real soybean market fundamentals give us a mixed view, including basis in overs versus deferred futures contracts.
Grain futures prices have been consolidating to start the week but are showing signs of a potentially bigger relief rally
Corn is 3 to 4 cents higher in early Wednesday trading. Corn closed out the Turnaround Tuesday session with positive price action. Futures were 2 ½ to 5 ¼ cents higher on the day, spurred by some likely...