Closing Grain & Soybean Comments - nccoop.com

Closing Grain & Soybean Comments May 23rd, 2018. Corn futures rallied to their highest levels since July, 5/23/2018. finishing 2-4 cents higher on the day. The trend in corn Settle Change Low High remains unquestionably higher as it has since late January. RJO trader, Josh Patience, noted a huge spike in volume at CN18 1:14 pushing prices to new highs late. The corn spreads CZ18 were steady-firmer with the July-Dec settling at 18 cents SN18 carry (in from 18 ) and Dec-July '19 settling at 15 cents SX18 carry (in from 16). Generally higher ag markets, solid old SMN18 crop demand and seasonal May/June/July weather concern BON18 supported prices. WN18 Soybeans led the way higher most of the session and KWN18 finished 8-9 cents higher. Increased optimism that the MWN18 Chinese will again be buying US soybeans soon and strikes in South America supported prices. SN8 has rallied nearly 50 cents in four sessions negating the recently established downtrend. Even with the higher prices, old crop spreads remain weak with July-Nov going home at 9.

RJO’Brien Service is our trade 2 | Page

Loading..

Tags:

  Comments, Closing, Grain, Soybean, Closing grain amp soybean comments

Information

Related search queries