** AgResource Daily Farm Marketing Advice for Tuesday: 1/ Corn Producers: Sell another 10% of the estimated ‘18 corn harvest at $4.01 basis Dec 2018 futures. 2/ Corn Producers: Sell 10% of estimated 2019 corn production at $4.17 basis Dec 2019 futures. 3/ Corn Producers: Sell 15% if the 2017 corn crop is March 2018…
Corn Ends Lower On Harvest Pressure
A more active Midwest harvest and the continued reports of better than expected yields, along with slowing US export demand pressured CBOT corn futures to a lower close. Funds ended the day as net sellers of 5,400 contracts of futures with December pinned against $3.50. US corn exports for the week ending October 12th…
Wheat Slides In Technical Trade
US wheat futures failed to sustain an early rally effort and closed lower. Fund short covering ended at mid morning and selling pressure returned amid weakening global wheat prices. Australian wheat values dropped on improved weather for Southern New South Wales and Victoria, while traders turned their attention to the Algerian tender and what price…
Afternoon Weather Update
** South American Weather Discussion: The International Research Institute (IRI) for Climate and Society has released their monthly forecast for the November to April timeframe. IRI has a nice track record of long range climate forecasts, and this forecast included the prospect of a developing La Nina. The South American forecast called for expanding rains…
Soybean Crush Rate in September
NOPA reported a monthly crush of 136.4 Mil Bu for the month of September, towards the low end of trade estimates, but still the largest reported crush total for September in 10 years. Processing margins were above both last year and the 5 year average and processors were well supplied, with September 1st stocks known…
