Next Weekly Newsletter to be Published Wednesday, May 24th
The next edition of AgResource’s Weekly Newsletter will be sent on Wednesday, May 24th.
Fund Position Update
The Commitment of Traders report showed that managed money funds are still holding a short positions in Chicago wheat, corn and soybeans worth 361,817 contracts, an addition of 11,000 contracts from previous week.Managed funds as of last Friday held a combined short position in corn, wheat, soybeans and soy oil worth 367,825 contracts, an increase from the 363,720 contracts of…
Cash Corn Moving in the West; Volume Poor on the CBOT Rally
** The morning has all been about adding weather premium to crop prices as cool to cold temps, and lite rains continue across the Midwest for most of the week. The market is becoming concerned that Central US crops will be latent in development as the calendar rolls forward to June. Trade volume has been…
Periods of Wet Weather Affect The Great Plains through Early June
Anomalous warmth most likely West and East to Gulf region into mid-June. Cool periods Great Plains!
Brazil’s Soybean Export Commitments Reach 40 MMT; But Pace Lagging What is Needed to Meet USDA’s Projection
On May 10, USDA pegged Brazil’s soybean crop at a record 111.6 MMT, up 600,000 MT from their previous projection. In addition, USDA projected local marketing year (Feb-Jan) soybean exports at a record 63.6 MMT, unchanged from their previous projection. For the week May 13-May 19, Brazil exported 2.35 MMT of soybeans. That’s up from last…
