Commentary
Cheese availability outstrips buyer pipeline
Class III volume spiked yesterday, nearly doubling Tuesday’s lethargic post-Labor Day trade with 1,419 contracts changing hands. From the start-gate, 2011 Class III had a somewhat weaker bias as buyers found motivating news in short supply. But it wasn’t until sell pressure during the spot session pushed barrels down 3.25 cents that futures lost their footing, trading as much as 50 cents lower intra-day (October). We are seeing that commercial buyer pipeline refill of the past few weeks, which was spurred by the initial decline into the $1.70’s, appears now to be losing steam.
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CBOT corn outlook: Seen up in rebound from Thursdays slide
U.S. corn futures are expected to start higher Friday as the market recovers from a steep slide Thursday.
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U.S. grain and soy review: Profit-taking drags down prices
U.S. grain and soybean futures tumbled Thursday as traders took profits following sharp gains in August.
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Profit-taking weighing on CBOT crop markets
Corn futures are trading lower at midday. Profit-taking after hitting new contract highs earlier this week and strong the dollar index are weighing on futures. Crop yield and production estimate have been declining.
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CBOT corn outlook: Seen lower on worries about slowing demand
U.S. corn futures are expected to start lower Thursday on signs high prices are slowing demand for the grain.
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CBOT corn outlook: Seen weaker in setback from contract highs
U.S. corn futures are expected to start weaker Wednesday as traders take profits following a surge to contract highs.
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CBOT corn outlook: Seen lower as traders books profits
Profit-taking is expected to drive down U.S. corn futures Tuesday as the market pulls back from recent gains.
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CBOT corn outlook: Seen higher on declining output forecasts
U.S. corn futures are expected to start at their highest level in more than two months Monday as declining output expectations fuel buying.
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CBOT corn outlook: Firm on new exports; traders await fed speech
U.S. corn futures are expected to open steady to slightly higher on new export sales reported by the U.S. Department of Agriculture, although the market's direction could be dictated by how financial markets react to an upcoming speech by Federal Reserve Chairman Ben Bernanke.
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CBOT corn outlook: Lower on profit-taking, stagnant demand
U.S. corn futures are expected to open lower Thursday on profit-taking and lackluster demand at current high price levels.
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U.S. grain and soy review: Traders take profits after recent rally
U.S. grain and oilseed futures ended mostly lower Wednesday as traders took profits on long positions amid already high prices and a lack of fresh news.
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