By: Kelley Fornoff – Soybeans and wheat are slightly higher overnight and seemed to have found some support while corn is slightly lower. At the break, May corn is 0’2 lower at 374’6, May soybeans are 1’0 higher at 1023’4, and May Chicago wheat is 3’4 higher at 454’2. Wheat…
Commentary
Afternoon Market Recap
By: Patrick McRae – Grain markets fell aggressively lower on the day as the fears of South American weather concerns have played their part and are now showing that much of the follow-through buying was weak-handed without additional news to prop the market higher. The Safrina corn crop planting pace…
Commitments of Traders Analysis
By: Jeff Kaprelian – Corn For the week ending last Tuesday commercials were net sellers of 73,210 contracts. They added a few longs, but it was really a huge increase in shorts (79,516) that made the number. No doubt this came from hedge pressure from producers. Funds liquidated 43,225 shorts…