World Perspectives
feed-grains soy-oilseeds wheat

AM Outlook - Major Reversal Coming

GOOD MORNING, The lack of significant heat across the US and a perceived break-down in Chinese/US trade talks combined to create long liquidation in corn and wheat, while adding to net short positions in the soy complex.  Meal and bean charts have broken into new low territory, soyoil remains rangebound.  Higher oilshare is a key feature as it derives its strength more from a lower meal market than higher soyoil values.  This morning while wheat and beans post new lows, oilshare is trending towards its monthly high at 31.90%.   There may be the general perception by the funds that they do not want to be holding long positions as we head into the start of early harvest.  Funds have been selling in sizeable vol...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.3125/bushel, up $0.0375 from yesterday's close.  Mar 26 Wheat closed at $5.525/bushel, up $0.1525 from yesterday's close.  Mar 26 Soybeans closed at $11.3725/bushel, up $0.1325 from yesterday's close.  Mar 26 Soymeal closed at $307.9/short ton, up $4.9 fr...

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