Grain futures at the Chicago Board of Trade (CBOT) are expected to decline after the United States Department of Agriculture (USDA) releases its prospective plantings and quarterly grain stocks reports on June 28.
Chicago Board of Trade (CBOT) soybean and corn futures fell on Tuesday as traders assessed the impact of flooding and heat on crops in the central U.S.
Bearish bets in the ICE Futures canola market hit their highest level in three months in mid-June, as speculative fund traders added to their large net short position, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Chicago Board of Trade (CBOT) soybeans rose on Monday as flooding hit the upper Midwest after a weekend of thunderstorms. Corn fell on acreage expectations ahead of a USDA report on Friday and wheat was down with analysts citing U.S. harvest pressure.
Chicago Board of Trade soybean futures strengthened on Friday as some weather models showed heavy rain putting certain U.S. production areas at risk of flooding, though they closed down for the week.
Chicago Board of Trade corn slid on Thursday while soybeans closed at their lowest in two months as forecasts for heavy rains alleviated concerns about a heat wave in the central U.S. stressing crops.
Soybean and corn futures at the Chicago Board of Trade both find themselves in relatively sideways trading ranges watching Midwestern weather forecasts to provide nearby direction.
Chicago Board of Trade corn and soybean futures turned higher on Tuesday, reversing direction after a two-day slide, as investors tracked a heat wave moving across the eastern Corn Belt after the government reported a decline in U.S. crop ratings.
Chicago Board of Trade wheat and soybean futures fell sharply on Monday, with wheat at a near two-month low as fund selling pressure rolled into a short holiday trading week, traders said.
As of June 11, 2024, the net managed money short position in canola futures came in at 99,252 contracts (1,950 long/101,202 short), which was up by roughly 30,000 contracts from the previous week.