Soybeans Explode Higher After Another Round of Analyst Cuts to SA Production; Corn Takes Back Yesterday’s Losses and Wheat Tries to Stabilize After the Blood Bath
New SH2 contract highs on a late surge in prices from lower to +11 finish. Weather forecasts returning to hot and dry for Arg and S Brazil now, not much else for news.
Wheat Tanks to End The Month After Russia/Ukraine Weekend News Fails to Provide a Spark; Corn Follows Wheat; Soybeans Firm as Fresh SA Production Estimates Decline Further
Smaller S American crop expectations on worsening Arg and S Brazil forecasts again, global oilseeds futures continue to push higher overnight as a result.
World soyoil/palmoil markets blowing up, Dalian corn calms down, US soybeans on new highs, the rest of it took a breather. Egypt tendered for wheat again.