The CBOT was mixed on Tuesday with the Juneteenth holiday on Wednesday blunting trading volume and overall price action. Corn and soybeans settled higher amid modest declines in crop ratings and emerging technical support while the wheat market ignored hot, dry conditions in eastern Europe and Russia to score another day of declines. The NOPA crush report was supportive for the soy complex and helped all three legs of the crush move higher while corn and wheat futures lacked much fundamental input. Funds were net buyers across the soy complex but were mostly neutral corn and are thought to have sold another 5-6,000 contracts of wheat. Thursday’s post-holiday trade looks bearish for wheat while corn and the soy complex could see linger...
From WPI Consulting
Accountability and a comprehensive approach to export programming
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