Corn futures stabilize after sell-off from 18-month high
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Corn prices hold steady after sharp declines
Chicago Board of Trade (CBOT) corn futures rebounded slightly, trading at $4.97-1/4 per bushel after tumbling from a high of $5.14 on Friday.
Improved Crop Weather in South America
Rain forecasts in Argentina and Brazil have eased concerns over drought, reducing fears of lower yields.
Expectations of Increased U.S. Corn Planting
With higher corn prices, U.S. farmers are likely to increase planting, which could boost supply and pressure prices.
Speculative Selling Pressures the Market
Large net long positions in corn futures triggered a speculative sell-off, as funds were net sellers on Friday and Monday.
Wheat Prices Edge Higher
CBOT wheat traded at $5.94 per bushel, supported by a stronger Russian wheat export market due to a firming rouble and lower shipments despite mild winter conditions.
Soybean Prices Rebound
CBOT soybeans rose to $10.52 per bushel, driven by a downward revision of Brazil’s soybean crop forecast to 168.2 million metric tons, though it remains a record-breaking harvest.
Market Outlook
Corn prices remain under pressure from improving global supply conditions, but ongoing speculative positioning and currency fluctuations will likely dictate short-term moves. Wheat and soybeans show signs of resilience amid shifting fundamentals
Chicago Board of Trade (CBOT) corn futures rebounded slightly, trading at $4.97-1/4 per bushel after tumbling from a high of $5.14 on Friday.
Improved Crop Weather in South America
Rain forecasts in Argentina and Brazil have eased concerns over drought, reducing fears of lower yields.
Expectations of Increased U.S. Corn Planting
With higher corn prices, U.S. farmers are likely to increase planting, which could boost supply and pressure prices.
Speculative Selling Pressures the Market
Large net long positions in corn futures triggered a speculative sell-off, as funds were net sellers on Friday and Monday.
Wheat Prices Edge Higher
CBOT wheat traded at $5.94 per bushel, supported by a stronger Russian wheat export market due to a firming rouble and lower shipments despite mild winter conditions.
Soybean Prices Rebound
CBOT soybeans rose to $10.52 per bushel, driven by a downward revision of Brazil’s soybean crop forecast to 168.2 million metric tons, though it remains a record-breaking harvest.
Market Outlook
Corn prices remain under pressure from improving global supply conditions, but ongoing speculative positioning and currency fluctuations will likely dictate short-term moves. Wheat and soybeans show signs of resilience amid shifting fundamentals