Futures traders were able to eke out a positive close on what appeared to be mounting input costs and questionable consumer demand.
A monthly Canola chart with Fibonacci Retracement, Moving Averages and Elliott Waves
The wheat complex is rallying double digits on Wednesday. Chicago SRW futures are 16 to 17 cents higher on the day. KC HRW futures are 22 to 33 cents in the green. MPLS spring wheat is up 15 to 16 cents...
Soybeans are up 4 to 6 cents in the front months on Wednesday. New crop is leading the charge, up 12 cents at midday, as the new crop soy/corn ratio has crept down towards 2.33. The cmdtyView national...
Corn futures are trading with 8 to 9 cent gains across most contracts on Wednesday. The CmdtyView national average Cash Corn price is up 8 ½ cents to $4.19. Crude is up $1.50 so far on the day and $6...
Corn prices are 1 to 2 cents back lower on Wednesday morning. Futures rounded out Tuesday trade, with contracts steady to 2 ¼ cents higher, as July slipped ¼ cent. Preliminary open interest was down...
The wheat complex is showing mixed action so far, with the spring wheat leading the way higher. Wheat was under pressure on Tuesday, with losses across the three markets. Chicago SRW futures were 5 ¼...
Soybeans are falling 7 to 8 cents in the nearbys on Wednesday AM trade, with new crop down 2 cents. Futures close out the Tuesday session with most contracts 9 to 10 ½ cents in the green, as front months...
I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. Yesterday, soybean futures sold off at the lowest limit in three years. The market...