Outside markets were screaming hot today, but most agricultural commodities not so much. Tech companies boosted the Nasdaq by 2.43 percent and pulled along the Dow by nearly 2 percent and the S&P by almost 1.5 percent. But upbeat tech corporate earnings reports had no impact on grains and oilseeds, which are instead spinning down towards previous lows.  Instead, China’s washout of another 233 KMT of corn put a pall over the grain market. It raised the total corn cancellations by China this past week to over a half million tons. An impending huge corn crop and improved moisture conditions weighed down wheat as well. The result was two contract lows (soyoil and HRS), but a more bullish animal protein outlook enabled a new cont...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, China, North America, South America