AgResource Weekly Newsletter, Oct 22
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Great Plains Cold ALERT for Next Week
Incoming severe cold is increasingly likely for next week in the Great Plains.
CBOT Falters on Brazilian New Crop Sales Amid China’s 10 MMTs of Duty Free US Soybean Imports; Traders Want Cash Confirmation of China Demand
** AgResource Farm Marketing Advice for Tuseday: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…
China’s Soybean Crush Margins Up on Higher Prices for Soymeal and Soyoil. Talk of 10 MMT Quota for Tariff-Free Imports.
Summary: China’s “spot” soybean crushing margin today was 32 Yuan/MT, up 29 Yuan from a week ago. The “forward” margin was 152 Yuan/MT, up 89 Yuan from the prior week. Also, the forward margin was 100 Yuan above what it was a year ago. In the October WASDE, the USDA lowered left its projection for China’s…
