The CBOT turned higher on Tuesday in what was mostly a technically driven corrective bounce. With South America’s weather still not perfect and various harvest/planting delays ongoing, there is a need to maintain some risk premium in prices. At the same time, however, overall supplies (especially for soybeans) seem adequate, and exports are not offering any surprises, so bears are content to hold their positions as well. That meant Tuesday’s grain trade saw higher trade but without conviction or much fundamental support. The only grain markets to see notable strength was an overnight rally in Paris wheat on fears about the Black Sea crop helped the U.S. markets push about 10 cents higher. Of course, if one is looking for a more...

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