BASIC & RECENT MARKET INFO

Holiday CBOT Trading Hours Friday December 22: normal trading hours Sunday Dec 24: markets closed Monday Dec 25: markets closed Tuesday Dec 26: markets open at 8:30 AM CST. Friday Dec 29: normal trading hours Sunday Dec 31: markets closed Monday Jan 1: markets closed Tuesday Jan 2: markets open at 8:30 AM CST. Highlights Last evening’s GFS model run was drier & Euro model was wetter for the next week in the dry areas of Brazil. The GFS model has been more correct as of the pa

Highlights Early Saturday, it was reported the Wagner Group had “captured” the city of Rostov-on-Don in southern Russia. A convoy of the rebel mercenaries were advancing north toward Moscow from the captured city as Putin vowed to crush the mutiny. At midday yesterday, it was announced the Wagner Group commander, Prigozhin, and Putin’s people had reached an agreement that the charge of treason against Prigozhin would be dropped and he was leaving Russia for Belarus, the co

Highlights Tom Skilling is chief meteorologist at WGN-TV (Chicago). He has been doing WGN weather for 45 years. Back in the day when the CBOT trading was done on the floor of the exchange building with about 4,500 people buying and selling commodities, there were TV sets for everybody to see. When Tom Skilling gave his mid-day weather update at 12:30 PM Central time on WGN, the floor went dead silent as soon as Tom’s face came on the TV screen and it stayed dead quiet until h

Highlights The House of Representatives passed a resolution yesterday to force the adoption of the agreement by the railroads and the unions and passed a second resolution requiring the railroads to allow seven days of sick leave for the union members. The Senate must approve both measures for it to be sent to the White House for Biden to sign. Will the Senate pass the same two bills? Probably. Will Biden sign it? Probably. Will all of the above happen within a matter of days

Highlights Mexico's President Obrador clarified that the GMO corn import ban in 2024 would apply to human consumption corn, but GMO corn would still be allowed for animal feed. About half of Mexico’s corn imports are for human consumption. Expect more changes. Analysts expected the weekly US commercial (non-government owned) crude oil inventory report would show a decline of about 2.5 million barrels. However, the American Petroleum Institute (API) said the draw-down was 7.85

Highlights MATIF stands for Marche A Terme International de France (Paris Futures Exchange) otherwise known as milling quality French wheat futures trading in Paris. Yesterday we showed you the five minute candlestick chart showing MATIF wheat gained about $10 a mt (37 cents a bushel) the last five minutes of Monday’s trading day. Here is the fifteen minute chart after Tuesday’s trading: MATIF wheat gained 3.5% the past two days. On $8 wheat, that is 28 cents a bushel. Yeste

Highlights Will grains and soybeans ever go up? After yesterday, that is the question millions of people want to know. If you just look at CBOT action, yes, yesterday was a very bad day as new lows for the move were made in everything except oats. When CBOT prices are in downtrend, it is because of one or more of the following: Too much supply. USDA’s wheat and corn carryovers reported Wednesday were less than the market expected and the bean carryover was increased from a 17

Highlights Heatwaves are predicted to sweep through northern China the next two weeks with temperatures exceeding 40 degrees Celsius (103 F) in some regions. Italy declared a state of emergency for areas surrounding the River Po, which accounts for roughly a third of the country's agricultural production. The area is suffering its worst drought in 70 years. The US economy may have contracted during the second quarter. With the confirmed contraction of the US economy in the

Highlights USDA announced yesterday morning the sale of 132,000 mts of old crop soybeans to China. USDA plans to issue WHIP+ payments to...

Highlights Today is the last trading day before the first notice day of delivery assignments on the May CBOT agriculture contracts. After...