Tidbits, Spec Funds, Biofuel, Dairy & Farming, Cancellations & Export Sales 5/30/26
- Wright team
- 1 hour ago
- 5 min read
Tidbits
As we recently stated, corn and bean futures decline after the market gets comfortable that those crops will get planted. It is highly probable corn, beans, and wheat will see a gain 50% to 62% of what they have lost since 13 May. That is the standard technical retracement and profit-taking. The longest sunlight day of the year for the Corn Belt is three weeks from Monday. Soil moisture disappears very fast with 16 to 17 hours of daylight and warm to hot day time temperatures.
For the past ten days, several ethanol plants across the Corn Belt invited farmers to bring the corn contracted for June delivery early. It is a lot cheaper for merchandisers to do that than to firm their basis.
Karen Braun notes:
“Funds aggressively offloaded CBOT corn in the week ended May 26, as futures fell on good U.S. weather and Chinese demand concerns. Net long = 211k futures & options contracts.
The week marked funds' largest round (by far) of long liquidation since the March 2025 trade war-driven selloff.”
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