AgResource Farm Marketing Advice for Monday: 1/ Corn Producers: Hedge 20% of the 2021 corn crop at $4.24 basis Dec 2021 corn futures. This would price 60% of the 2021 corn crop. 2/ Corn Producers: Sell 15% of your 2019 corn crop if March corn futures reach $4.10. This would push 2019 corn sales to…
Brazilian Forecast Adds Rain to Southern Flooding: The forecast into mid-November is consistent with prior model solutions. High pressure Ridging exits Brazil on the weekend. A more normal flow of moisture resumes thereafter. The attached graphic shows the overnight change in the GFS’s model’s 10-day South American precip forecast. The details of Brazil’s two-week forecast…
Precip Exits Eastern Corn Belt; Lasting Period of Dryness Lies Ahead: Following a rather wet 7-day period across the Southeast and Eastern Midwest, a drier pattern will be established into the middle of November. The two-week % of normal precip forecast is attached. A fast-moving jet stream and lack of upper air humidity will maintain…
CBOT corn futures have struggled on rallies despite a rise in S American cash prices and uncertainty over future export taxes in Ukraine. This struggle has been due to continued elevated competition for world market share which will continue into the first quarter of 2020. The Black Sea corn crop is actively being harvested and…
Soybeans Gain on Friday;Close Lower for the Week: Soybean futures were higher to end the week, with November jumping 7 cents while the rest of the market gained 3-4 cents. The USDA released estimates for US crop production that will be included in the long-term Baseline projections in February. The estimates are formulated following the…
