Corn futures rallied 6-7 cents, which relative to recent months is quite a bit, and which ARC attributes mostly to fund short covering. Somewhat quietly managed funds have a established a sizeable net short, which as of Sunday evening ARC estimates reached 185,000 contracts, a record for the middle part of October. Producers are harvesting,…
Brazil Very Wet 8-15 Day Period: The EU and GFS models remain in good agreement, and both remain consistent in projecting a more normal monsoonal flow beginning next week. In the near term, dryness issues will prevail, and too much rain will again fall across key areas of Southern Argentina. But confidence is rising with…
Most soybean futures were up 1-2 cents after trading in a relatively narrow 6-8 cent range today. The Dec soymeal contract, however, slipped by just over $1 while soyoil continued its rally and added 0.4 cent to close at 34.56 cents (up nearly 8% since the beginning of the month). Soybean export inspections were…
Ahead of next week’s first GD/EX rating, AgResource breaks down the correlation between autumn crop conditions and production potential.
AgResource Daily Farm Marketing Advice for Monday: 1/Corn Producers: Sell 10% of the estimated ‘18 corn harvest at $4.01 basis Dec 2018 futures. 2/ Corn Producers: Sell 10% of estimated ‘19 corn production at $4.17 basis Dec 2019 futures. 3/ Corn Producers: Sell 15% if the 2017 corn crop is March 2018 corn futures reach…
