Tuesday sees follow-through buying after Friday's crop report. Corn neared $4.80 before retreating, soybeans hit $10.64, while Argentina's heat and delayed rains influence crop forecasts.

Corn futures saw a Turnaround Tuesday pull back, as futures fell 1 to 2 cents in the nearbys on the session. The national average Cash Corn price from cmdtyView was down 2 ¼ cents at $4.40. Weekly EIA data will be out on Wednesday morning, with most expecting to see...

Wheat posted mixed action on Tuesday, hard red contracts the weakest and soft market the strongest. Chicago SRW futures were up 1 to 2 cents on the session. KC HRW settled with fractional losses on Tuesday. MPLS spring wheat futures were down 3 to 4 cents in most front months...

The soybean market posted 5 to 6 cent lower trade in most nearby contracts on Tuesday, as January expired up 1 ½ cents. CmdtyView’s national front month Cash Bean price was down 6 cents at $9.88. Soymeal futures were back down 30 cents to $2/ton on the day. Soy Oil...

Sideways Chop Fest for Now

What I do know is that backgrounders and under are going to have a very difficult time managing the future.  The positive basis is a curse for backgrounders at the moment with many more cattle to sell in the spring, but the highest price today.

The USDA cut its corn crop production estimate, sending March corn futures to a nearly seven-month high on Monday.

Corn futures are posting 1 to 2 cents losses at midday on Turnaround Tuesday, pulling back from early morning strength. The national average Cash Corn price from cmdtyView is down 2 cents at $4.40 1/4. Commitment of Traders data showed a managed money spec funds adding 24,540 contracts to their...

The soybean market is trading with 1 to 5 cent losses so far on Tuesday. January futures expire today. CmdtyView’s national front month Cash Bean price is down 1 3/4 cents at $9.92 1/4. Soymeal futures are back down $2.20/ton on the day. Soy Oil futures are 22 points higher...

Wheat is showing mixed action so far on Tuesday at midday, with the winter wheats leading the bull’s charge. Chicago SRW futures are up 1 to 2 cents at midday. KC HRW are trading with 2 to 3 gains on Tuesday. MPLS spring wheat futures are steady to fractionally lower...

Wheat is showing slightly higher action so far on Tuesday morning. The wheat market was in rally mode on Monday, joining in on the rest of the grains. Chicago SRW futures were up double digits, with gains of 12 to 14 ¼ cents at midday. KC HRW posted 9 to...

The soybean market is trading with 2 to 6 cent losses so far on Tuesday. Soybeans put on a rally on Monday, as buying fallout from Friday’s USDA reports continued. Contracts were up another 20 to 28 cents across most contracts. Preliminary open interest showed a rotation of ownership, up...