** AgResource Daily Cattle Analysis: It was a mixed, but mostly lower day of trade in the cattle markets that left futures lower at the close on Wednesday. A higher open in August cattle found supply that kept steady pressure on the market throughout the day, with support established late in the day against $115.…
** 6:30 AM CST CBOT Prices: July soybeans are down .50 of a cent at $9.1825, July corn is down .75 of a cent at $3.68 while July Chi wheat is down 4.75 cents at $4.5975. ** AgResource AM Grain & Oilseed Comment: Good Morning! Slightly lower are AM CBOT prices in rather average overnight…
Wheat futures fell 6-8 cents as the Russian ruble hit new 4-month lows, and on paper this allows Russian wheat exporters to be more aggressive in the world market. Currencies in Australia and Canada also settled a bit weaker, and today was generally marked by commodity liquidation. However, ARC does not advise chasing breaks…
Corn fell a penny in sub-par volume, and the trade is left pondering the market’s next move. Crude fell $.80/Barrel and continues to flirt with chart-based support. This week’s ethanol update is viewed as slightly negative as production fell and stocks remain perched well above recent years. The Midwest forecast is void of any…
Central US Still Cool, Dry: The US forecast maintains net draws in soil moisture across a vast majority of the country, but also still features below normal temps through the next 10 days, which will act to limit severe crop stress. How this will impact yield is yet uncertain, but June does look to finish…
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