AgResource Farm Marketing Advice
AgResource Farm Marketing Advice for Tuesday: 1/ Corn Producers: Sell 20% of the 2021 corn crop at $4.24 and 20% at $4.29 basis Dec 2021 corn futures. This would price 60% of the 2021 corn crop. The US sorghum crop is rated at 73% GD/EX, vs. 49% last year and the highest rating since…
CBOT Wheat Falls Sharply to Test Major Chart Support
Sep Chicago wheat ended 15 cents lower and is testing its 100-day moving average. It’s key that $4.86 holds or else a deeper correction lies head. Fresh breaking news is absent. Yet the Northern Hemisphere harvest continues to speed along amid mostly across the US PNW and Western Europe. US wheat harvesting as of Sunday…
Corn Ends Lower on Better than Expected Midwest Rainfall
CBOT corn futures began the week lower and extended losses following better than expected rainfall coverage today in southern IL, IN and OH. Crop ratings did fall to 56% GD/EX, vs. 57% a week ago and expectations for a modest boost. This will provide support overnight, but Central US weather is broadly favorable into the…