Friday was a typical sideways session with Soybeans ending down -6.50 cents, they don’t really know where to go with all this trade talks news and fake news and the don’t manage to escape significantly from the 900 cents levels.
Two-sided session yesterday in the US, Soybeans ended sharply up in the end: +24.00 cents. Corn also rebounded closing up +4.50 cent. Strong export inspections probably triggered more short covering. Wheat purely followed, ending up +7.75 cents in Chicago, +7.50 cents in Kansas, +4.50 cents in Minneapolis.
Friday was still in digestion mode after the USDA WASDE, there’s a lot of risk off as short bets, even if right, would pay off in a few weeks time if not months are good news will now come from plantings and winter weather.
Weak day again as Soybeans closed down -10.75 cents, Corn -1.75 cents, Wheat -4.50 cents in Chicago, -3.25 cents in Kansas and -1.75 cents in Minneapolis. On the other side of the Pond, no exception, market was also very weak with MATIF Milling Wheat down -€0.75 and London Feed -£1.95.
Dull Monday with Soybeans up 0.75 cent and Corn down -1.75 cent. Only wheat was a bit more active, ignoring the scaremongering coming from Australia and Russia and ended down -7.00 cents in Chicago, -6.75 cents in Kansas and -2.25 cents in Minneapolis.
A relatively quiet Friday apart on Soybeans as they rebounded +9.75 cents. They seem to continue their technical retracement after visiting sub 820 cents levels last month.
Typical week Friday, buyers had left for the week-end already! Soybeans moved down -9.50 cents, Corn -8.50 cents, Wheat -4.00 cents in Chicago, -6.00 cents in Kansas and -7.50 cents in Minneapolis.
Market moved down -14.25 cents on Corn yesterday, surprised by the extent of the US yield increase. Wheat moved down -12.00 cents in Chicago, -16.00 cents in Kansas and -10.25 cents in Minneapolis. On the other side of the Pond, London Feed was down -£1.35 and MATIF -€1.75.
Friday’s session was interesting on MATIF Wheat as the usual scams and manipulation have come back in force on the U8 expiry with U8 being down -€17.75. A few happy guys around, the issue, funnily enough, it’s always the same guys!
