The trade's initial reaction to the re-election of former United States President Donald Trump was bearish for soybeans and corn on the Chicago Board of Trade on Nov. 6. Meanwhile, the U.S. Federal Reserve's interest rate announcement on Nov. 7 and the U.S. Department of Agriculture's supply and demand report on Nov. 8 are likely to have a bullish effect on those commodities, said Allendale Inc. president Steve Georgy.
CBOT weekly outlook: Trio of events loom over U.S. soybeans, corn
CBOT soybeans/corn in ‘tug-o-war’
Soybean and corn futures at the Chicago Board of Trade were pressured by losses in crude oil over the past week, but uncovered support and could see some choppiness ahead of the United States election. The commodities were in a 'tug-o-war' as large supplies were countered by good demand.
CBOT Weekly: Corn, soybeans rising, wheat slipping
Corn and soybean prices rose at the Chicago Board of Trade during the week ended Oct. 23, 2024. However, wheat prices went lower during the same week.
CBOT Weekly: Trade too low on U.S. corn, soybeans ahead of S/D report
Estimates for U.S. corn and soybeans are perhaps too low and wheat prices are set to increase due to smaller global supplies.
CBOT Weekly: USDA report, short-covering raising prices
The USDA Quarterly Grain Stocks report as of Sept. 1 caused prices at the Chicago Board of Trade (CBOT) to rise during the week ended Oct. 2, 2024.
Rising CBOT soybeans facing resistance
Optimism over increased Chinese demand along with weather concerns in Brazil gave the Chicago soybean market a boost and triggered some fund short covering over the past week, but the futures will likely face stiff resistance to the upside going forward.
CBOT Weekly: Possible Chinese trade action of little concern
As price movement in soybeans on the Chicago Board of Trade continued to be a tussle between dry conditions in Brazil versus pressure from the United States harvest, Sean Lusk, vice-president of Walsh Commercial Hedging in Chicago, suggested not to pay much attention to any trade action China might soon take against U.S. soybeans.
Trade expects mixed bag in WASDE report
The Chicago Board of Trade (CBOT) will be focusing on the monthly World Agricultural Supply/Demand Estimates (WASDE) from the United States Department of Agriculture (USDA) on Sept. 12.
CBOT Weekly: Soybeans, corn off lows, sideways trade likely through harvest
Soybean, corn and wheat futures in the United States were all showing modest strength in early September, recovering off their August lows as speculators bought back previously sold positions. “We’re seeing a little bit of short covering in these markets and the contract lows, at least over the short term, may be in,” said Terry […] Read more
CBOT Weekly: Wheat set to increase, as soybeans, corn to recede
While the general direction for soybeans and corn on the Chicago Board of Trade is to continue moving lower, United States wheat was on the rise and is to remain so in the coming weeks, according to a trader.
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