AgResource Farm Marketing Advice for Friday: 1/ Corn Producers: Sell 20% of the estimated 2020 corn crop at $4.23. This would price 60% of the anticipated 2020 corn crop. 2/ 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%…
CBOT corn futures ended just above its recent high amid a rising E Midwest cash market – where planting is most behind, and producers are holding onto old crop stocks. Basis in Central OH is attached. Basis has firmed despite the $1.00 rally in futures. End users here are scrambling for supply amid the yield…
CBOT soybean futures traded higher overnight, and extended the gains as funds continued to cover their large net short soybean position. At the close, soybeans were up 9-10 cents. Funds were estimated buyers of 10,000 soybean contracts, putting the estimated weekly total at 33-37,000 contracts. The weekly US Export Sales report continued to reflect…
US wheat futures rallied again, led by Chicago on coming Midwest rain. KC’s premium to CBOT corn rests at just $.34/Bu with interior Kansas cash wheat offers below corn. This will produce higher wheat feed consumption across the Plains. Otherwise, wheat fundamentals remain bearish amid enlarged high protein US production and non-competitive prices in the…
The Central US pattern is little changed from prior runs and the EU and GFS are in better agreement. Heavy rain will impact the Delta and E Corn Belt into mid next week. Totals are estimated at 1-2” across; S IL, IN, OH and MI. Heavier localized totals are possible in OH. This rain is…
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