The funds started this week with a record-large short position in wheat, a big short in corn and moderate-to-small short positions in soybeans and soymeal. It was all about weather and funds today, and volume was relatively heavy. General Comments It’s been a very long time since a wheat contract traded up the limit, or any other agricultural contract for that matter. KC July wheat flirted with limit up most of the session. Below are the latest trading limits, which are now variable:
Chicago wheat - 30 cents KC wheat - 30 cents Mpls wheat - 60 cents Corn - 25 cents Soybeans - 70 cents Soymeal - $25/ST Soyoil - 2.5 cents/lb.
Cold temperatures followed by heavy snow across approximately 40 percent of Kansas and eastern Colorado...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
