Today despite Indonesia banning palm oil exports, July soybeans plummeted almost $0.60 from morning session highs.
Today despite Indonesia banning palm oil exports, July soybeans plummeted almost $0.60 from morning session highs.
Wheat futures lose as much as $0.35 during the day session, as premiums to world values are corrected.
Wheat futures caught a lot of selling today, but recovery in soybeans and corn helped limit some losses.
After sharp gains overnight, wheat futures are sharply lower today, while corn gave up strength. Only soybeans are firm on continual Chinese buying.
Corn and soybeans are having a mostly firm day, while wheat futures have double-digit losses on potential rain for the HRW wheat belt.
Corn, soybeans and wheat all went from sharply lower this morning to sharply higher into the noon hour.
Wheat and corn futures are sharply higher today, while soybeans recover from Monday's massive selling.
Large opposing stories have grain markets sharply divided today.
Another crop report is out today as another opportunity for the USDA to try to tamp down on inflation by putting out a negative report. It didn't work.
Wheat futures are carrying the grain market higher as the USDA reveals the second-worst USDA wheat crop ratings on record.