By: Dan Hueber – By no means shocking, it was still a slight surprise to see crop ratings deteriorate for corn and beans quite this early on yesterday’s report. I suspect this helped shore up prices overnight and after the action yesterday, boy did we need it. Spot corn was…
Commentary
Overnight Market Update
By: Kelley Fornoff – Corn and wheat are recovering a bit after yesterday while soybeans are hanging just slightly higher in the overnight. At the break, September corn is 4’2 higher at 351’2 and August soybeans are 0’4 higher at 849’0. September Chicago wheat is 11’6 higher at 492’0, Kansas City…
Afternoon Market Recap
By: Patrick McRae – Grain markets failed on follow through selling once the day session began. Trump tariff conversations have not been showing any signs of easement as Wilbur Ross the US commerce secretary made mention that Trump will not back off regardless of stock market correction. Crop conditions reports…
Commitments of Traders Analysis
By: Jeff Kaprelian – Corn Commercials were net buyers of 77,897 contracts after liquidating positions on both sides of the market. They came out of 96,281 shorts, which to me means they see this price as a point of value. Funds were net sellers of 83,573 after liquidating 60,945 longs…